Forward planning reaps railway benefits for The Village at Wellard

Careful master-planning and community design will see The Village at Wellard reap the maximum benefits from the new Perth to Mandurah railway.

The 2700-lot community is a joint venture between Peet Limited and the Department of Housing and Works and is the first walkable transit-oriented development to be built on the Southern Suburbs Railway.

Proving how important the estate is to the Perth to Mandurah line, Wellard Station was the new train’s only stop during its first journey from Mandurah to Perth on 23 December last year.

It was a day of celebration with more than 1,000 Wellard residents enjoying a free community event to commemorate the opening of the new train station as well as the arrival of the first train.

Peet Limited Managing Director Brendan Gore said the new train line is a key component of the estate’s transit-oriented design and will provide numerous benefits to residents and the surrounding community.

"Through careful planning, nearly all of The Village at Wellard homes will be within a 10-minute walk of the train station, making it an attractive transport alternative whether commuting for work or visiting family and friends,” Mr Gore said.

“The community has been designed to be environmentally sustainable on every level – from the protection of the surrounding environment to energy and water usage in the estate’s homes.”

Wellard resident James Manning said the train will make a huge difference for him commuting to the city each day for work.

“Catching the train to and from work each day is great, but it is so convenient to have the train station just a few minutes walk from home,” Mr Manning said. “

It is estimated that the new train line will carry 50,000 passengers a day to and from Mandurah and Perth. As well as Wellard, it will stop at the southern suburbs of Bull Creek, Murdoch, Cockburn, Kwinana, Rockingham, Warnbro and Mandurah.

There are currently a variety of homesite options available for people interested in joining The Village at Wellard community.

The most recent release included the first land south of the railway line in Wellard. The lots, located on Beauchamp Loop and Halstead Turn, range in size from 362sqm to 840sqm and are all within a few minutes walk of the new Wellard Train Station, the bus station and future café strip, shops and medical facilities.

There are also some very affordable titled lots available in the Village Rise, Leda which has been made even more attractive with the Smart Buy incentive available on selected lots for a limited time only. This provides buyers with a $10,000 ‘finishing touches’ bonus as well as a generous front garden landscaping package, side and rear fencing, and retaining walls where necessary.

For more information or to pick up a train time-table visit The Village at Wellard Sales and Information Office on the corner of Runnymede Gate and Cliveden Avenue, Wellard which is open on Monday and Tuesday from 2pm to 5pm, Wednesday 3.30pm to 5pm as well as Saturday and Sunday from 1pm to 5pm.

New opportunities to secure Peet land in the first release for 2008

Generous stretches of parkland linked by tree-lined streets and spacious elevated homesites are attracting buyers to Ashton Heights Private Estate.

In response to strong demand, Peet Limited has brought forward the sale of Releases 21 and 22 providing new opportunities to secure homesites at the estate.

Ideally located on elevated land in the middle of the already well-established Tapping area, the estate offers views of the valley and the Darling Range and is also positioned to receive cooling breezes during summer.

The first release for 2008 includes 23 homesites. The family-sized lots range in size from 562sqm to 739sqm and all have generous frontages. Prices range from $249,000 to $275,000, averaging $261,000.

These premium homesites are just a short stroll to one of five parks in the estate. An added attraction for buyers is Peet Limited’s incentive package which provides quality boundary fencing and a front garden landscaping package including design consultation with a landscape architect.

Ashton Heights Private Estate has been designed in accordance with GreenSmart sustainability principles. The estate offers various garden landscape options as a water-wise initiative, which means the addition of water-wise irrigation and other recognised methods of optimising garden water use can be incorporated in your landscaping package.

Peet Limited Managing Director Brendan Gore said he expected a good response to these first releases for 2008.

“Ashton Heights started with resounding success back in 2004. Construction has progressed significantly since the first release and buyers are now attracted to the magnificent setting provided here,” said Mr Gore.

Releases 21 and 22 will be available on site from 9.00am Saturday 19 January, on a first-come, first-served basis. At the time of signing up, purchasers will only need a deposit of $1,000 with the remainder due on settlement.

To be part of the Ashton Heights first release of 2008, interested buyers should contact Chris Menzies, Estate Sales Manager on 9206 4919.

The Ashton Heights Sales Office is located just off Yandella Promenade, Tapping and is open Monday and Tuesday, 2:00pm to 5:00pm and Wednesday from 3:30pm to 5:00pm as well as Saturday and Sunday from 1:00pm to 5:00pm.

Alternatively you keep up-to-date with future release by registering your interest at www.ashtonheights.com.au

Peet completes $300 million wholesale land syndicate

• Peet establishes institutional distribution capability
• Acquisition of coastal residential zoned project at Alkimos – 40 kilometres north of Perth, Western Australia
• Expected Project duration of approximately 12 years with total land sales revenue estimated at approximately $1.4 billion
• Peet Limited to act as Development and Marketing Manager
• Land bank rises to around 38,000 lots with an on-completion value of $7.6 billion

National land syndicator, asset and fund manager, Peet Limited, today announced the successful launch of its wholesale funds management business with the completion of a $300 million wholesale land syndicate.

The Peet Wholesale Land Syndicate represents a significant expansion of Peet's existing funds management platform and has been established to acquire and develop a coastal residential zoned project at Alkimos with ocean frontage, 40 kilometres north of Perth. The property has a potential yield of some 2,800 lots.

The majority of the syndicate capital raising has been subscribed for by institutional investors, with Peet Limited ultimately taking a 10 per cent interest in the syndicate. There will be opportunities for Peet's syndicate investors to participate in this exciting project through a Peet Alkimos syndicate to be launched later this financial year.

"Diversifying our capital sources to include institutional investors allows us to further leverage our business model, enabling us to participate in a larger and more diverse range of opportunities," said Peet Limited Managing Director, Brendan Gore.

MTAA Super and The Myer Family Company Pty Ltd will be cornerstone institutional investors. Commenting on the MTAA decision to invest in the Alkimos project, Fund Principal Executive Officer Michael Delaney said "We were attracted to the opportunity by its location, planning and, of course, the potential returns to our members."

"The Fund has been actively seeking quality opportunities to invest in Western Australian property and the opportunity to participate in a project with a group having the experience and reputation of Peet Limited is consistent with the investment philosophy of the Fund and continues the diversification of the Fund's property portfolio." MTAA was advised by its mandated property consultants J G Service.

Commenting for The Myer Family Company, Chief Investment Officer John Eliopoulos said "The company has had a long and successful relationship with Peet Limited and we are delighted to be again involved in another exciting project for the company and for clients of the Myer Family Office."

Mr Gore said that "Peet Limited is very pleased to partner with institutions such as MTAA and The Myer Family Company on this very exciting and important project and we look forward to an ongoing and mutually beneficial relationship."

"Establishing the Peet Wholesale Land Syndicate, and an institutional distribution capability, has been a key strategic goal for the company over the past 12 months. We are delighted to provide our investors, both new and existing, with exposure to such a strategic and rare opportunity," Mr Gore added.

The 243-hectare residential zoned property has 1.7 kilometres of ocean frontage within the Alkimos Eglinton project, a planned growth area in Perth's northern coastal metropolitan corridor. Land in the corridor is tightly held and opportunities to acquire significant coastal parcels anywhere between Yanchep in the north and Mandurah in the south are rare.

"We believe the site represents what may be the last opportunity to acquire a significant coastal parcel of land between Yanchep and Mandurah," Mr Gore commented.

The purchase is timely given plans to open up Perth's northern corridor even further with the current extension of Marmion Avenue though the property, and beyond to Yanchep, expected to be completed by August 2008.

"This really is a unique coastal property acquisition – arguably the only opportunity for a new major coastal residential estate within 40 kilometres of a capital city in Australia," he said.

Based on current estimates, the project is expected to have a duration of approximately 12 years and yield total land sales revenue of approximately $1.4 billion.

Peet Limited – which already has a long history and impressive track record in Perth's northern suburbs – will act as Development and Marketing Manager for the project.

The new Alkimos property is north of Burns Beach Estate which is managed by Peet Limited and was awarded for excellence in the Outstanding Coastal Development, Innovation and/or Design category of Coastwest's recent WA Coastal Awards. The Burns Beach Estate has been developed and marketed by Peet on behalf of syndicate investors for many years.

Mr Gore said that the wholesale syndicate received strong interest from the wholesale market. "Investors were seeking a quality manager with a strong brand and delivery capability," he said.

UBS acted as Lead Manager on the Institutional Offering for the Peet Wholesale Property Syndicate. The Institutional Banking Division of the National Australia Bank, nabCapital, has arranged and underwritten a multi-tiered debt solution to assist with the acquisition of the Alkimos Eglinton project and the ongoing funding requirements for the Wholesale Syndicate.

"This is a significant and exciting transaction for Peet and, given our 112-year relationship, we are extremely pleased to have been able to support them in successfully securing the Project," said nabCapital's Head of Corporate Finance, Robert Armstrong.

"The strength of the relationship has allowed us to work closely with the Peet team to structure a debt and equity solution that meets the needs of all stakeholders," he said.

Peet Limited has the third largest land bank of any ASX listed property group. The Alkimos land acquisition brings its land bank to around 38,000 lots with an estimated on-completion value in excess of $7.6 billion (if sold at today's prices).

Peet's Managing Director said the company would be launching new funds to both retail and wholesale investors in the future, and had appointed a new Head of Funds Management to drive this important business area.

"Peet will continue to leverage its integrated business platform to deliver innovative and strong performing products for syndicate investors, and generate new income streams for our shareholders," said Mr Gore.

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