Major development parcel comes to market in Mandurah
The Australian leading commercial real estate company Colliers International are selling a large parcel of land two blocks from the beach in Mandurah.
The 15,793 sqm vacant land, split over two adjacent blocks, is expected to capture interest from tourist and residential developers.
Located an hour south of Perth, the separate blocks comprise of 170 Mandurah Terrace and the former Lucky Caravan Park at 20 Henson Street.
Both properties are zoned urban under the Peel Region Scheme which allows for residential development, employment and retail use.
However, additional permitted uses under the City of Mandurah Town planning scheme allow for commercial and tourist development.
Colliers International director of investment services Nicholas Agapitos said the properties were the largest parcel of land to come to the market in Mandurah in some time, and had a flexible range of uses.
“There is an existing approval for a tourist development on the site and Mandurah remains a hotspot for overnight and short-stay accommodation," he said.
The Peel region recently recorded a 13-year high in domestic overnight visitors, with approximately 540,000 domestic overnight trips.
The development approval allows for 47 residential apartments, 165 tourist units and 10 ground-floor commercial tenancies. Approval was also granted for a 12-storey tower on the site and 477 parking bays.
Offers for the properties close December 21.
