The 243.55 hectare site is located at Alkimos, approximately 40km north of Perth and provides over 1.7km of Indian Ocean frontage.

The property was sold in an “Off Market” transaction brokered by Miles Rowe of Savills Perth.  Paul Craig from Savills introduced the buyer.

The property is zoned for Urban Development Under the current Metropolitan Region Scheme (MRS). Under City of Wanneroo DPS No 2 the majority of the land is zoned for urban development. A District Structure Plan has recently been lodged for advertising encompassing the entire Alkimos Eglinton district

 The current northern boundary of Marmion Avenue is located approximately 5 kilometres south of the subject property, and this is planned to be extended through to and past the subject property within the next 18 months. 

It is envisaged that the subject property has the potential to be developed as a prominent residential subdivision with a potential estimated lot yield of some 2,800 residential lots.

Mr Rowe said this is the best large beachfront residential development site in Western Australia and probably Australia. 

“The topography of the land slopes up from Alkimos beach for approximately 2 km, and will therefore provide Indian Ocean views for a significant number of residential blocks.  In addition the Alkimos shipwreck is located just off the coast, providing a further point of interest” he said.

Savills believes this is a record price paid for a single englobo residential development site in Western Australia and the second highest price for a real estate asset in the state.
 
Mr Rowe noted the extension of Marmion Avenue through the subject property to Yanchep 5 km to the north which is estimated to be completed mid 2008, will open up the property for subdivision.

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