The $2.7 million acquisition paves the way for a 22-townhouse project.
Locus Development Group is set to build a townhouse project in Stirling, following the $2.7 million purchase of a development site.
The Subiaco-based developer bought 8 Osborne Place Stirling from a consortium of owners, in a bid to expands its town home portfolio.
The acquisition, made via an Australian Tax Office receivership sale, paves the way for 22 two-storey homes to be built on the 3,700sqm site, pending planning approval.
Locus Development Group director Damian Long said the site, which lay within the City of Stirling local planning strategy, would enable the company to progress its business model.
“This acquisition aligns perfectly with our vision of creating exceptional living spaces that cater to the needs and aspirations of modern families,” he said.
“We are dedicated to developing properties that not only meet the highest standards of quality but also contribute positively to the local community."
Locus is working with local authorities to devise a planning application for the site, with approval for the project expected in February 2024 and construction for mid-2025.
Locus Development Group has townhouse projects in Victoria Park and Wembley and is planning a development in Fremantle.
Axia Corporate Property brokered the deal.
