Stockland has made a $91 million investment across 4,600 lots of land in Perth which will enable three new liveable, affordable residential communities.
There's a promising sign for the future of Perth's housing market with Stockland acquiring a $91 Million investment across 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 livable, affordable residential communities over the long term”.
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 livable 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.
Stockland has invested and operated in WA for 16 years with a current portfolio of assets worth $1 billion which includes:
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