DEVELOPER Port Bouvard Limited has sold its remaining home site at Princeton Private Estate, Stirling, two years ahead of schedule. The developer has released and sold 117 home sites worth about $41 million through Satterleys Real Estate during the past eight months. Port Bouvard purchased the original site in 2000 and begun Perth’s biggest landfill project, with almost 40 hectares of land being reclaimed over the life of the development. The first two stages of the site were released for sale in mid 2002, totalling 115 lots with an average size of 410 square metres, priced at an average of $200,000. In October 2005, Stage 11 was released consisting of 74 home sites, ranging in size from 393sq m to 596sq m with an average price of $357,432. Port Bouvard managing director Ross Neumann said the average growth within the estate had been 25.5 per cent per annum, which in most cases was ahead of the WA average. “Since launching the award winning estate in 2000, 640 lots representing approximately $220 million have been sold,” he said. “With the completion of the main central lake and its surrounding parklands and recreational facilities, such as the lakeside cabana picnic area and children’s playground, we have seen an upswing in buyer interest and sales.”
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