Double Beach Estate, one of Western Australia’s last mega land holdings, has hit the market.

Ray White’s Brett Wilkins and Andrew Woodley-Page are managing the sales campaign, which is being conducted via an expression of interest.

Located in Geraldton, the 975-hectare coastal property boasts 3.5 kilometres of frontage to the Indian Ocean and another 3.5 kilometres to the Greenough River.

Mr Wilkins describes the estate as a "unique and truly world-class coastal land holding with elevated sweeping ocean views, easy access to pristine beaches, and extensive frontage to the picturesque Greenough River."

Geraldton, the second largest population center outside Perth, serves as the hub of the Midwest region, which has a thriving job market and industries generating a Gross Regional Product (GRP) of over $7 billion annually. The area also has $12 billion in allocated investment from the WA State Government.

The sellers acquired and rezoned the 18 lots over approximately 20 years to enable the development of a master-planned community under the Geraldton structure plan. The property includes an operating caravan park, a sand mine, and the site of the once-renowned Greenough River Resort.

Mr Woodley-Page highlighted the vast development opportunities available for incoming investors.

“The Estate’s zoning allows for a broad rollout of development opportunities including residential, resort and tourism, a marina and canals, a major regional shopping center, and supporting commercial uses,” he says. A previous Master Plan included 14,000 residential lots, with 900 currently having subdivision approval from the WA Planning Commission, and 100 lots being shovel-ready.

If fully developed, Double Beach Estate could significantly increase Geraldton’s population. The master plan's 14,000 proposed lots could potentially house 35,000 people, nearly doubling the current population of just over 40,000. This development would add to the town’s existing stock of about 18,000 homes, according to the last census.

Mr Woodley-Page said this potential expansion comes at a critical time when the supply of land in the Perth metropolitan area has reached its lowest level in nearly 20 years, as noted by the Urban Development Institute of WA. The new community also aligns with forecasts from regional airline Nexus, which established a base in Geraldton last year, predicting the town will become a major fly-in, fly-out hub for resources projects in the Pilbara, along with Broome.

Owner Bayform Holdings lists four Perth-based investors—Francesco Agnello, Leone Agnello, Steven Masel, and Tony Masel—as directors. The estate's potential as a hydrogen hub was highlighted in October 2022, with the State Government noting interest from six proponents in establishing renewable energy-based projects at the Oakajee Strategic Industrial Area. However, development at Oakajee has no firm timeline, according to WA Ports Minister David Michael. Oakajee is one of 13 sites set to share the Cook Government’s $500 million fund to fast-track clean energy and major industrial projects.

Double Beach Estate represents a significant and transformative opportunity for investors looking to capitalize on one of Western Australia’s last remaining large-scale land holdings.