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Qube’s latest residential acquisition in Wanneroo. Image: Supplied.
  • Located in Wanneroo
  • House prices floating around $500,000 in the suburb
  • Qube looking to expand to the east coast

Perth-based Qube Property Group recently announced another acquisition, hot off the heels of its Canning Vale industrial acquisition.

The 7.3 hectare site located in Wanneroo is bordered by Caporn Street and Saponara Drive. The land is expected to become 110 residential lots, subject to receiving all of the relevant approvals.

Mr Hector said that QUBE had benefited strongly from improved local market conditions and ongoing low interest rates which had fuelled investor appetite for property assets across the commercial, industrial, and residential sector.

“The success of our recent capital raisings, and the evident investor appetite for assets such as these, is of course due in part to strong growth in the property sector across the board but also evidence of the high level of support we continue to enjoy from our investor base.

“We have been around for over 25 years now, with many long term and loyal investors who continue to partner with us based on our strong track record of delivery over a sustained period,” he said.

Caporn-st-amenity
Image: Supplied.

The company is also looking forward to 2022, hoping to expand into the east coast market.

“While Perth is certainly maturing as a market and attracting significant interest from east coast investors, we are also actively looking to markets which deliver value and long-term growth for our investors.

“Once we can get on a plane to the east coast, we plan to actively expand our asset base beyond Western Australia and reconnect more directly with potential investors on the east coast.”

Profile: Wanneroo

Total stock on market for the Wanneroo postcode 6065 in November was 559 properties, according to SQM Research.

SQM Research puts stock on market for the month of November in Perth City at 757, and North West Perth at 6,144.

Pricing for homes in Wanneroo is around $500,000, with the Perth City price for all houses at $891,000, and North West Perth just under $836,000.

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