Our client has requested that the details of their activities in the Peel Region remain confidential and we respect their wishes, we are however able to advise that we act as commercial counsel on this asset.

This project is located 40 km south of Mandurah CBD, and 108 km south of the Perth CBD. The existing townsite, established in the mid 1950's, is a seaside hamlet with a recreational focus and is renowned as a weekend getaway and a valued place for fishing.

The property is over 800ha in area and forms part of the Peel Region, one of the fastest growing regions in Australia (3.1% annual growth over past 10 years) and is a logical growth corridor for future urban development of the Perth outer metropolitan region. The property is subject to a complete development program including the creation of a totally master planning community. Regional justification for development of this property extends to the following points:

• The completion of the Perth - Bunbury Highway
• It has a unique seaside community
• Development of the property/project is supported by state & regional policies
• Provision of community facilities & services will improve the current level of civic amenities to the region

Conservation and enhancement of the environment forms an integral part of the future development of the site and will be guided by defined urban growth limits and extensive environmental investigations.

Other factors considered in this investment were the findings from "Perth Coastal Planning Strategy - Community Survey Report which noted that coastal locations have the highest demand for housing in WA and over 70% of new lots in Perth are being created in coastal locations. The report also noted that low cost camping and affordable tourism sites are under provided around the state.