08/06/2004 - 22:00

Buyers snap-up rail estate

08/06/2004 - 22:00

Bookmark

Save articles for future reference.
Buyers snap-up rail estate

HOME buyers and investors camped out overnight to secure their piece of The Village at Wellard development on May 28, with all 47 first-release blocks selling by the end of the next day.

The village is a 2,700-lot ‘transit oriented development’ joint venture between the State Government and Peet and Co, situated adjacent to the future Perth-to-Mandurah rail line.

Planning and Infrastructure Minister Alannah MacTiernan said strong buyer demand was a vote of confidence in the passenger rail project.

“This is the first truly transit oriented development in the southern suburbs,” Ms MacTiernan said. “The Village at Wellard will ultimately accommodate a population of about 8,500, who will be less than 30 minutes train travelling time to Perth, 10 minutes to Rockingham and 20 minutes from Mandurah.”

Peet and Co managing director Warwick Hemsley said the company was delighted with the success, and that it highlighted the strong interest in estates served by rail.

“This is a long-term project and there appears to be considerable unsatisfied demand,” he told WA Business News.

“The next release of land will hopefully be within the next month.”

Peet and Co received registrations of interest from more than 350 potential buyers looking at the Wellard Village.

Peet and Co is project manager for Lakelands Estate, also located in close proximity to the new Perth-Mandurah railway. The estate’s fifth stage pre-release was recently sold out.

Nine stations are to be constructed south of the Narrows Bridge as part of the State Government’s Southern Suburbs Railway to Mandurah, with contracts to build the stations to be awarded later this year.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options