CBRE are pleased to offer to the market an approved residential subdivision at Lot 808 (1993) Albany Highway Maddington.
Situated 17kms east of the Perth CBD, this 5.5Ha* site is a true infill opportunity encompassed by a mixture of new and established residential dwellings, all in close proximity to both the Maddington and Gosnells Train Stations, as well as the Gosnells Town Centre.
With a subdivision approval in place for 62 green title residential lots averaging 254 sqm, and a balance land holding of 1.45Ha’s, this site offers purchasers an opportunity to immediately build and release lots to a strong West Australian market – The Urban Development Institute (UDIA) recorded 3,322 new lot sales in the June quarter 2020, the most on record.
More recently approval has been given for 57 survey strata lots on the balance of land (1.45ha's*), thus creating a 119 Lot subdivision.
Adding to the immediate development opportunity are significant refunds available to the developer from the local authority under the City of Gosnells Outline Development Plan (ODP). The ODP requires the provision of additional public open space to be provided within the approval, with this additional POS to be compensated under a fixed pricing agreement. (Buyers should make their own enquiries with City of Gosnells)
This potential refund, along with the ready to go nature of the development, makes this an opportunity that all small to medium developers should consider.
• Stage 1 Approval for 62 lots plus 1.45hectares
• Survey strata approval on the 1.45ha's* of 57 lots
• Forecast population growth - 23% by 2036
• 1.5km to Gosnells Town Centre, 1.3km to Maddington train station, 2km to Maddington Central shopping centre.
The property is being sold via an Offers to Purchase.
Please contact the agents for further information.
Remember to mention you found this property on DevelopmentReady.com.au