A high density mixed commercial /
retail and residential estate covering 2.73 hectares and
close to a future rail station. This estate will commence
residential sales in 2007. SPM recently received subdivision
approvals for the development. Projected profits are approximately
50% higher than forecast at purchase due to a combination
of cost savings in estate design, negotiated savings in
off site works and higher selling prices. The Property
was purchased at a price of $1.38m in January 2005 and
was valued at $3.4m in 2007.
Avignon Henley Brook WA
A mixed residential/ special rural
estate covering 40 hectares and yielding more than 400
lots. This project was acquired in December 2005, having
been identified by SPM Project Marketing. It is proposed
that sales will commence in 2008.
The project is managed by SPM for the owner, WRF Property
LTD (WRF). WRF raised funds and purchased the land via
a public capital raising.
Avalon
at Baldivis, Smirk Rd, Baldivis
This 470 lot residential estate
is situated in Smirk Road Baldivis. Develeopment of
the site is well underway with bulk earthworks having
commenced in October 2007. Presales are excepted to
commence in February 2008 with lot prices are expected
to average around $210,000. The estate will include
a primary school site, a community and child care centre
sites and local centre site. Avalon estate will feature
extensive public open space with 6 parks planned within
the 470 lot estate.
The Mews At Southern River, Southern
River WA
A potential
300 lot estate over 12 existing titles.
Development should commence in early 2008. SPM is leading
a team of consultants including town planners, engineers,
contamination experts, hydrologists and botanists to progress
rezonings and environmental studies in the area. SPM has
recently received EPA consent to advertise the rezoning
of the land, having also achieved a lifting of Urban Deferment
to Urban in the Metropolitan Region Scheme.
Rowley Rd, Darling Downs
This project
comprising approximately 150 future lots was initially
zoned Urban under the MRS and Rural under the Shire of
Serpentine Jarrahdale when sourced by SPM in 2005. SPM
have since been successful in arranging for the shire
to initiate a scheme amendment to have this land rezoned
from rural to development zone under the current town
planning scheme. This scheme amendment is now being advertised
concurrently with preparation of a detailed structure
plan for the land. Development is expected to commence
in 2008/09.
Surf Drive, Secret Harbour
Located between
Rockingham and Mandurah this development will comprise
approximately 55 lots and adjoins the new Lark Hill sporting
& recreation development currently being undertaken.
It will be situated within 2 km of the beach. The subdivision
is part of a larger development area with comprehensive
planning undertaken by City of Rockingham and featuring
a number of parks. Some lots in this subdivision will
be directly adjacent to proposed parks.
The development will be comprised of both cottage lots
and larger parcels of land, ranging in size from 300 to
600 square metres, and zoned from R30 to R20.
Birchley Rd, Beeliar
Located 20
km south of the Perth CBD and approximately 5 km from
the new Coogee marina development with ocean views achievable
from a number of lots.
10 lots in total are being developed with construction
due to commence in July, 2007 with completion expected
November 2007. All lots are suitable for duplex developments.
The lots will be close to a public open space area with
some lots being adjacent.
Tindal Avenue, Beeliar
Located on
the high portion of Beeliar with some proposed lots having
potential views to the City and the Ocean.
In this project, SPM has been successful in modifying
the City of Cockburn Structure Plan for the area in order
to provide an increase in lot yield.
SPM has obtained a subdivision approval in order to proceed
with
the development of the land into 34 lots.
