Franco family bolsters Bullsbrook portfolio

The Franco family has purchased a second parcel of land in Bullsbrook for $3.35 million, marking the family’s second acquisition in the area this month.

Mario, Robert and Michael Franco, via Mimaro Group, purchased a 40-hectare property at 916 Cooper Road from former AFL and WAFL footballer Wayne Otway and his partner Jane.

This followed the Francos purchase of adjoining 848 Cooper Road for $2.8 million at a court ordered auction earlier this month.

Both properties are zoned rural and have been identified as suitable for industrial expansion in the local structure plan.

The family, which founded Fero Group in 1972, also own 13.96ha at Lot 61 Railway Parade in Bullsbrook, which they bought for $495,000 in 2006.

Effective Property Solutions managing director Erwin Edlinger brokered the deal.

The property was previously on the market with a local residential agent for offers above $5 million.