- Located in Moore River South
- Has 5.7km of ocean frontage and 1.9km of river frontage
- The property has several approvals
A 2,103-hectare parcel of land just south of Western Australia’s Moore River is being brought to the market after the Plunkett family put it up for sale 50 years after it was acquired.
The Plunkett family are known in WA for being the founders of construction company Plunkett Homes.
The property is being marketed as a potential model for sustainable development. The site comes with development approval for a 10MW solar array to augment the grid power supply, and has an established and proven groundwater source and on-site sewerage treatment.
It also has an approved master plan community that could one day incorporate housing for approximately 5,000 residents as well as retail, mixed business, tourism and public recreation components.
The property is being brought to market by JLL Directors of Capital Markets (WA), Sean Flynn and Nigel Freshwater, and Core Land’s Directors Kane Malcomson and Trent Malcomson.
Flynn sees the offering as a prime investment opportunity.
“Moore River South is offered to the market at a time when developers can position themselves for the next property market upswing, taking full advantage of WA’s compelling housing affordability story, and booming resource-driven economic conditions.
He sees Moore River South as a new day-trip recreational destination as Perth continues its trajectory of urban sprawl.
The plot of land is situated 80 kilometres north of Perth and boasts 5.7 kilometres of ocean frontage as well as 1.9 kilometres of river frontage.
Malcomson says the property’s immense size, ocean and river interface and views, and ready-to-develop nature, will see it attract attention from local and international investors.
“Properties of this scale and quality across both the Australian and broader Australasian market are incredibly rare,” Mr Malcomson says.
“We’re effectively offering one of the state’s largest land residential subdivision platforms with the right to own and operate the communities servicing infrastructure and an operating cattle grazing business.
JLL said the accessibility and interconnectedness of Moore River South will benefit from major state infrastructure projects that will significantly improve accessibility to the Perth CBD, City of Wanneroo and the City of Joondalup which are Perth’s key employment hubs stretching from Perth across the northern suburbs. Construction on both the Mitchell Freeway extension and Yanchep Rail extension is underway, with both infrastructure upgrades scheduled to for completion later in 2023.
The offers-to-purchase campaign closes Thursday 25th May 2pm AWST.
