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LandCorp selling splurge continues

LANDCORP has continued its selling splurge in the northern suburbs with the sale of a further five lots in Clarkson’s Ocean Keys development.

The latest land sales totalled more than $7.5 million with Bunnings and Caltex among the commercial site buyers.

Bunnings Building Supplies bought a 3.075 hectare site on the corner of Marmion Avenue and Neerabup Road for just over $4 million.

Bunnings Building Supplies properties manager Keith Somers said the company had been keen to buy the site because of the northern corridor’s expanding population base.

“We are in the early planning stages for a new warehouse but anticipate being open in Clarkson by 2002,” Mr Somers said.

Caltex spent $1.5 million on a 4,784 square metre site on which it plans to build a service station, Starmart convenience store and family restaurant within the next twelve months.

Caltex’s WA property development manager Barrie Norton said early development of the site would enable the company to offer people working on building sites a range of convenience items.

The other three lots, ranging in size from 4,784 square metes to 2,352 square metres, were sold for almost $2 million for the development of fast food outlets and other retail options.

The sale follows Coles Myer’s October purchase of the 7.63 hectare Ocean Keys shopping centre site for $12.5 million.

A third Ocean Keys land release is due to take place in February with tenders closing in March.

Selling agent Knight Frank director Martin Reeson said four sites, each about 4,500 square metres, would be zoned mixed business.

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