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A large portfolio of properties making up a parcel of land that was earmarked for an ambitious plan to create a high-end tourism and lifestyle destination for 4,500 residents has hit the market and is expected to attract interest from international and local developers.
Effective Property Solutions has signed a contract to sell nine lots totalling almost 200 hectares at Gidgegannup, 40 kilometres north-east of Perth.
The large tract of land in Gidgegannup is expected to be popular with developers.
In 2002, the Port of Perth purchased 483 hectares of the town for $80 million, and the area was designated as a satellite town to accommodate Perth’s growing population.
In 2009, the developer submitted a master plan to the local council and the WA Planning Commission that called for nearly 2000 lots, bed and breakfast facilities, a farmers market, a nursing home and a village centre with a specialty shop selling local produce.
But Ollie Salimi, head of property investments at Effective Property Solutions, said Port Bouvard had failed to reach a deal for the 483-hectare site, which was sold to a private consortium of business owners in 2019 following the death of its owner, Perth property tycoon Michael Coleman.
“This significant development site is zoned for urban use under the Metropolitan Area Plan and for general rural and rural residential use under the Swan City Town Plan,” he said.
“The sites were part of an ambitious plan by former listed property developer Port Bouvard to create a tourism, holiday and lifestyle destination for up to 4500 residents within the rural town of Gidgegannup.”
Mr Salemi said he believed there would be strong interest in the land in the scenic Perth Hills area.
“We expect it to see strong demand from rural residential developers in Western Australia and Australia, and we suspect it will also attract interest from overseas developers as this large tract of rural land is ripe for successful urban development,” he said.
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