24/03/2011 - 00:00

Partner sought for Eglington project

24/03/2011 - 00:00

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LANDCORP is seeking a development partner for the northern 120 hectares of its Eglinton landholding in Perth’s fast developing northern corridor.

Partner sought for Eglington project

LANDCORP is seeking a development partner for the northern 120 hectares of its Eglinton landholding in Perth’s fast developing northern corridor.

The announcement last week by Land Minister Brendon Grylls follows the selection in July of Lend Lease to form a joint venture with LandCorp on the 224ha development of Alkimos town and subdivisions.

Like the Alkimos deal, the chosen partner will be involved in master planning for the Eglinton project, which sits on the eastern side of Marmion Avenue next to Martin Copley’s 561ha Eglinton Estate, which has the coastal element of that part of the northern corridor.

The state says the successful partner will finalise a local structure plan for Eglinton, while providing 50 per cent of the cost of that plan, and manage the development and sales of the northern 120ha of the project.

The move to develop Eglinton shows how rapidly the opening up of the region has developed.

Peet is already offering blocks in its Shorehaven development between Alkimos and Eglinton.

Further north, groups such as Australand and the Capricorn Village Joint Venture are also rapidly developing their land.

The speed of the development is necessary to meet the demand of Perth’s population growth, but the sudden emergence of subdivisions on the coastal plain is causing other headaches for government.

The timing and placement of train stations along the development corridor is a touchy subject for some developers, which view such major public infrastructure as critical to the shape of their projects, if not the marketability.

The Public Transport Authority is due to finish a review of what is required through to Yanchep in the near future.

The PTA’s decision making is even impacting on other arms of government such as LandCorp.

For instance, LandCorp’s planned second partnering opportunity for the southern 120ha portion of its Eglinton landholding will not take place until planning for the Eglinton district centre and train station is further advanced.

When fully developed, the LandCorp portion of Eglinton will deliver around 3,000 housing lots.

Expressions of interest for the first partnership close on May 5 and a preferred development partner will be announced in October.

LandCorp general manager metropolitan Luke Willcock said the project would assist with land supply and help meet the strong residential demand in the North West Corridor.

“We want to see Eglinton emerge as an attractive, affordable, self sustaining community which embodies robust designs with the flexibility to adapt to changing demographics and lifestyles,” he said.

“The Eglinton development will provide a diversity of housing choices and community facilities that embraces the Urban Development Institute of Australia’s (UDIA) EnviroDevelopment standards.

“Our aspirations for Eglinton include great community facilities and open spaces with easy access to the attractive coastal environment.”

 

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