Australia’s leading developer of masterplanned communities, Stockland, has acquired more than 4,600 residential lots over three sites, strategically located in the fast-growing north-west, north-east and south-west metropolitan corridors of Perth, WA.
The acquisition includes a 40 hectare parcel of land in Sinagra for $53 million; 334 hectares of land in Baldivis for $27 million; and 11 hectares of land in Brabham for $11 million.
Stockland Group Executive and CEO of Residential, Andrew Whitson, said: “We’ve seen early signs of improved economic conditions in WA, particularly in Perth, and this additional land will enable us to plan for three new liveable, affordable residential communities over the long term.
“These acquisitions set us up well to take advantage of future demand in the coming years,” Mr Whitson said.
Stockland General Manager for Western Australia, Col Dutton said: “We are committed to helping more Western Australians move into their own homes by creating a diverse range of liveable and affordable housing options at our connected masterplanned communities. These three sites are well located near existing or planned community infrastructure including transport, retail centres, schools and parks.
“In Brabham, the additional 200 lots adjoin our existing Whiteman Edge project, which enables us to leverage planned infrastructure including a retail town centre, future primary school and the planned Ellenbrook rail line, part of the MetroNet project.
“The Sinagra site has capacity for nearly 700 home sites, with a large proportion offering views across Lake Joondalup and the surrounding natural landscape, and includes plans for a new primary school.
“At Baldivis, our plans for a new residential community will include around 3,700 homes conveniently located just off the Kwinana Freeway within 3km of Wellard Rail Station. The site is a 30 minute drive to more than 100,000 jobs, including major employment areas in Rockingham, Kwinana, Henderson and Bibra Lake.”
Stockland has invested and operated in WA for 16 years with a current portfolio of assets worth $1 billion which includes: