Strong interest in prime Bunbury land

Thursday, 24 August 2017  

Prime development sites in Bunbury have attracted strong interest from potential investors following an expression of interest campaign run by Colliers International on behalf of the City.

The sites have been selected for their development potential and any projects built on them will play a key role in promoting Bunbury as an important regional commercial centre in Western Australia.

In total, five sites were marketed throughout Australia – all in waterfront locations – and the interest received will result in further negotiations that are hoped to lead to final sales through a closed tender process.

Any sales would be subject to agreements that would require development of the sites. The land offered for sale  included the ocean-side Lot 891 Clifton Street, a portion of Lot 3 Blair Street opposite the Leschenault Inlet, Lot 1881 Koombana Drive, and two Ocean Drive sites.

Bunbury Mayor Gary Brennan said the interest received showed that Bunbury had a lot to offer potential developers and investors.

“The fact that we have had such a strong response is recognition that Bunbury is a desirable place to invest,” Mr Brennan said.

“There are several new developments already under way and the development of these prime sites would continue to enhance Bunbury’s prosperity.”

Colliers International Director Investment Services Nicholas Agapitos said there had been a strong response to the call for expressions of interest with offers received for multiple sites.

“These sites will inject much-needed tourism, apartment and mixed-use projects into Bunbury and will help in the activation of the City’s waterfront and CBD,” Mr Agapitos said.

Discussions regarding the sites will continue over the coming months.