WA residential development site for sale

The sale campaign for a Two Rocks residential development site spanning 38ha has been restarted in its prime coastal Perth northern suburbs location. CBRE’s Ryan McGinnity has been appointed to manage the sale of the landholding, located at 99 Reef Break Drive, Two Rocks. The campaign follows the original sales process, which was paused in 2020 following the initial onset of COVID-19. The property, which forms the balance of the original The Reef estate, is minutes to the Two Rocks Marina and shopping precinct. The estate is designed to benefit from ocean views, with the land rising from west to east. It will be in close proximity to the future Yanchep Train Station. Mr McGinnity noted many developers are now running low of house and land packages or lots to sell. “In the past eight weeks, nine of the 30 single residential lots remaining within the estate have been sold and enquiries continue to be received. "With the opportunity to develop approximately 640 coastal lots, we expect genuine interest from local and national developers.” Two Rocks – together with Eglinton, Alkimos and Yanchep at the northern edge of the city’s expanding north-west urban growth corridor – is tipped to cater for over 50% of the City of Wanneroo’s population growth in the next 20 years. “With the northern suburb’s population expected to exceed 350,000 people by 2036, the State Government is focused on providing adequate infrastructure to enable affordable coastal living,” Mr McGinnity said.