Perth based development company Golden Group has picked up 1,492 hectares at Whitby and Nambeelup for almost $100 million.
Golden Group will acquire a 574ha site at Whitby, in the Perth foothills around 15 kilometres south of Armadale, and 918ha in Nambeelup, which is around 10km east of Mandurah.
The deals were negotiated by Jones Lang La Salle managing director John Williams, who estimated the Whitby land alone to be capable of yielding 4,000 lots.
Golden Group managing director Andrew Sugiaputra said the landholdings were significant strategic investments for the group.
“We have tremendous confidence in the long term growth of the Perth residential market,” Mr Sugiaputra said.
“These sites are in established growth corridors and most importantly, they are of a scale that will allow Golden Group to masterplan the estates.”
“Golden Group will complete the planning processes for both sites, and will in parallel invest considerable time in ensuring all aspects of design set new benchmarks in amenity.”
Golden Group was recently announced as Perth Racing’s joint venture partner for the $3.5 billion redevelopment of the land around Belmont Racecourse.
The group has total land projects approaching $5 billion and controls more than 2,500 hectares of residential land in Western Australia and Victoria.
