A residential development site in Perth’s booming northern growth corridor is expected to be met with strong demand as it comes up for sale. 

The 3.84 hectare site at 110 Caporn Street in Wanneroo was formerly used as a market garden, but is  now cleared. 

It benefits from the local Caporn Street Structure Plan, which allows for residential subdivision, similar  to the adjoining suburb of Sinagra, and will likely yield around 70 residential lots, subject to council  approval.  

The property is being taken to the market via an Expressions of Interest campaign run by Tony Delich and Cory Dell’Olio of Knight Frank. 

Mr Dell’Olio said the site was expected to generate significant buyer interest due to the current shortage  of residential development opportunities in Perth. 

“There is a shortage of homes in Perth – just like everywhere else in Australia – with strong demand  outweighing the availability of housing and leading to rent and price growth, with the latter being the  highest in Perth out of anywhere else in Australia,” he said. 

“Residential developments projects are therefore to be met with strong demand from end users looking  for more stock, but there is also a lack of development sites available. 

“In particular, there is limited supply of new land releases in this precinct around Wanneroo. 

“The development site fronting Caporn Street will be the first release subdivision opportunity under the  East Wanneroo District Structure Plan, with the State Government recognising its potential to deliver  more housing in Perth’s northern corridor.” 

Mr Delich said Wanneroo was a popular suburb in the booming northern corridor of Perth. 

“We expect buyers to pounce on this opportunity as it is not only a sought after asset type but it is a  well-positioned site close to lifestyle amenity and transportation links,” he said. 

“The site borders other high demand suburbs such as Sinagra, Tapping and Banksia Grove.

“The site at 110 Caporn Street is surrounded by the established new suburb of Sinagra and local  amenities including the nearby Ashby Village Shopping Centre and an abundance of parkland.  

“In addition, the site will ultimately have the added benefit of being adjacent to a proposed high school  and primary school.” 

Wanneroo is approximately 25km north from the Perth CBD and 5km east from the bustling Joondalup  Town Centre. 

Caporn Street Is a key connecting road joining Pinjar Road (which connects from Wanneroo Road) to the west to Franklin Road to the east. Convenient access to both Mitchell Freeway via Ocean Reef  Road that connects from both Wanneroo Road and Franklin road is another key attribute to the  location. 

The Expressions of Interest campaign for the property will close at 3pm AWST on Wednesday, August  14. 

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