Two urban development sites in Perth’s northern growth corridor for sale

Perth, Australia – Two sites in Perth’s rapidly evolving northern growth corridor are up for sale, offering buyers the opportunity to secure a substantial landholding ripe for development.

The properties at 38 and 54 Lakeview Street in Mariginiup have a combined land area of approximately 12.23 hectares – one sized at 8.22 hectares and the other at 4.01 hectares.

They are strategically positioned within the East Wanneroo urban growth corridor and Precinct 15 of the East Wanneroo District Structure Plan, which allows for future residential-led urban development.

The larger parcel at 38 Lakeview Street is proposed to be zoned as the town centre for the larger precinct, which would allow for retail and commercial space to be developed on the site, with the balance residential.

Located approximately 33 kilometres north of the Perth CBD and 13 kilometres east of Joondalup, the sites are surrounded by significant residential development activity, including Stockland's Grevillea Estate to the north and Hesperia's Botania Park to the south.

The properties are being offered for sale individually or in-one-line via an Expressions of Interest campaign being managed by Knight Frank agents Tony Delich and Zach Schreier on behalf of Balanced Securities.

Mr Delich said the offering provided developers, land investors and strategic buyers with the opportunity to secure a significant landholding within one of Perth’s major urban growth areas, at a time of constrained land supply and continued demand for new residential development.

“The broader precinct is undergoing a transition from its historical rural character to residential, with several nearby residential projects progressing through planning and development,” he said.

“These properties represent one of the few remaining opportunities to secure a large-scale landholding within the heart of the emerging East Wanneroo development corridor.

"With much of the surrounding precinct already owned or controlled by developers, opportunities to acquire land of this scale and strategic significance are becoming increasingly rare.

"The City of Wanneroo has recently been recognised as the state’s most active local government for subdivision applications and this offering has the potential to add to the supply of lots in the near term."

Mr Schreier said the location combined strategic planning upside with immediate access to established amenity.

"The sites are ideally positioned near established communities including Wanneroo, Tapping, Ashby and Banksia Grove, providing convenient access to schools, retail centres, recreation facilities and community services," he said.

"The opportunity is further strengthened by its proximity to Wanneroo Town Centre and Joondalup, which provide major employment, health and retail infrastructure for Perth's northern suburbs.

"As development continues to progress throughout the East Wanneroo corridor, opportunities of this scale are expected to become increasingly difficult to replicate."

The Expressions of Interest campaign for 38 and 54 Lakeview Street, Mariginiup will close at 3pm (AWST) on Thursday, October 29.

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For further information, please contact:
Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across more than 50 territories and more than 20,000 people. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.