Abadeen is teaming up with Garry Brown-Neaves, John Meredith and other investors to deliver 3,000 lots in North Ellenbrook.
Abadeen is entering the Western Australian market with a multimillion-dollar purchase of land in North Ellenbrook, where it plans to deliver 3,000 residential lots.
The NSW developer has partnered with John Meredith’s Bravestar, Garry Brown-Neave’s BN Investments and Gus Mackellar’s Property Bank Australia to acquire more than 200 hectares of land in Bullsbrook, Business News can reveal.
RP Data shows that Abadeen North Ellenbrook Pty Ltd purchased seven separate lots totalling 192 hectares from various owners in Bullsbrook for a combined $108 million.
Abadeen confirmed that it has purchase rights over an additional 41 hectares, which would bring its total landholding in the area to 233ha.
The company would not disclose the purchase price of the additional 41 hectares, but it is estimated that it would cost approximately $23 million.
Australian Securities and Investments Commission documents show that Abadeen North Ellenbrook is owned by NE Land Holdings No 1 Pty Ltd.
The ownership of that entity is split between various owners, including Garry Brown-Neaves and his wife Diane, NSW investor Tania Rees and Abadeen Communities.
Property Bank Australia managing director Gus MacKellar, Bravestar Group managing director John Meredith, formerly of Andrew and Nicola Forrest’s Fiveight, will also have ownership stakes in the land.
Abadeen is set to develop 3,000 lots in North Ellenbrook. Photo: Abadeen
Property records show that Maralla Holdings sold a majority of the initial 192ha, with private landholders Franciscus Sibbel and Jacqueline Edwards selling the balance.
ASIC shows that Kerry and Dominic Maddestra, and Dale Deeks jointly own Maralla Holdings.
Abadeen was established 25 years ago and has developed apartments, land estates and commercial buildings across NSW, Victoria and Queensland.
Abadeen founder and executive chairman Justin Brown said he looked forward to entering WA via this project.
“We are very attracted to the fundamentals of the Perth market underpinned by WA’s strong economic growth and employment outlook which all bodes very well for sustained growth and future demand for residential housing,” he said.
“We look forward to helping the WA government bring forward much needed housing supply to help with affordability for local families.”
The land is currently zoned urban deferred and Abadeen anticipates that will change to urban later this year.
The developer plans to deliver 3,000 dwellings, as well as a town centre, schools and recreational spaces on the land, with construction expected to start by the end of 2028.
The project sits within the broader North Ellenbrook precinct, which is expected to comprise more than 12,000 lots in coming years.
Garry Brown-Neaves is about a 30 per cent owner of the intial land to be developed by Abadeen.
The land will add to Mr Brown-Neaves’ extensive portfolio, with he and former business partner Dale Alcock owning a considerable landholding in North Ellenbrook for about three decades.
The pair is slowly adding to that land bank and plans to develop it soon, via ABN Group’s land development arm Parcel Property.
The Urban Development Institute has identified North Ellenbrook as a key growth corridor, as well as Yanchep and Eglinton, Mundijong, Karnup and Baldivis.
Other major players in the area include Stockland, Hesperia, Satterley and Wolfdene.
