Subdivision’s 263 lots puts in on radar for national and overseas developers.
Colliers International is bracing for a record response to a campaign to sell an approved residential subdivision in Byford, one of WA’s fastest growing suburbs.
In the first week the expression of interest campaign generated 44 inquiries with calls coming in from local, national and overseas buyers.
“Developers are moving quickly on this sale because it’s a ready-to-go subdivision in a high-growth area and residential sales on this scale are in short supply,” said Colliers International’s Erwin Edlinger.
“We were expecting a strong response but the level of interest, especially from overseas developers exceeded expectations.”
The 19.7ha property at Lot 1 Abernethy Road contains 263 lots in various sizes for single residential dwellings and will be pitched to the land development sector where developers are known to be expanding land banks for subdivisions in the medium-term.
The property is close to the Byford Village Shopping Centre and across the road from Byford Secondary College, an independent public school which opened in 2014.
Mr Edlinger said Byford had also been earmarked for a rail extension starting in 2021 under the State Government’s Metronet rail network. The proposed train station is about 200m from the residential site.
“Byford is at the base of the Darling Ranges and the lifestyle it offers has been popular with home buyers,” he said.
“There has been a big migration to this area, including young families and retirees and a future rail line will complete its liveability.”
Mr Edlinger said the land would be sold via an expression of interest campaign targeting Australian and overseas developers, including those with a counter cyclical interest in the market.
The campaign will close on November 9.