Goldfields expands into WA with Margaret River house and land site acquisition
National property developer Goldfields is further expanding its extensive portfolio, announcing its first acquisition in Western Australia and the opening of a new Goldfields office in Perth.
The newly acquired 400-lot site was purchased for $8 million and is four kilometres from the centre of the Margaret River township. It will be Goldfields’ first development beyond Australia’s eastern seaboard.
The site, at 211 Darch Road, Margaret River, is set to become a masterplanned residential community, with construction due to commence in the fourth quarter of this year. It is well-positioned to benefit from strong demand as Western Australia prepares to welcome back domestic and international migrants in the future.
Lachlan Thompson, Chief Executive Officer of Goldfields, said the team had been looking for areas with strong development potential on the western coast of Australia.
“We’ve made no secret of our appetite for growth and our expansion into WA further strengthens our national pipeline," Thompson said.
“We’ve identified significant growth opportunities in Margaret River, due to favourable economic conditions, employment expansion and significantly constrained land supply in the area.
“We are delighted to have a permanent presence on the west coast in addition to major ongoing projects in Victoria, New South Wales, Queensland and South Australia."
Gareth Wilson, General Manager WA at Goldfields, noted recent growth in Margaret River and surrounds created an attractive development opportunity.
“Popularity in the South-West is stronger than ever and as a result Margaret River has seen an unprecedented growth in property sales and prices over the past two years," Wilson noted.
“Margaret River’s unique lifestyle offering and the strong Western Australian economy have created demand in the area, not only from the local population, but also holiday makers and investors.
“The picturesque site is surrounded by world-famous surf beaches, renowned wineries and is a short drive into Margaret River township. Not only will this new community help to meet the demand for housing, but it will also offer purchasers an affordable opportunity to improve their lifestyle in the South-West,” Mr Wilson said.
Goldfields also recently branched out in to Brisbane, submitting plans for a 20-level tower in Milton, the riverside suburb in the inner western ring of the city.
Goldfields Chief Executive, Lachlan Thompson, told Urban that the time was right to go in to the Brisbane apartment market.
“As a national property developer, we are constantly looking for areas that offer strong development potential and we were impressed with Milton’s amenity and connectivity to all things lifestyle related," Thompson said.