Elevated coastal mixed-use development site up for grabs

Ray White Commercial (WA) has been appointed to sell a prime hilltop development site adjoining the Connolly Shopping Centre at the entrance to the Joondalup Resort with spectacular aspects overlooking the golf course.

3 Glenelg Place, Connolly, is near the corner of Country Club Boulevard and Hodges Drive and is strategically positioned between the freeway and the new Ocean Reef Marina.

With a freestanding site area of 2,052sq m* zoned Mixed Use (R80), the property has approval for a four-storey complex of 27 residential apartments with secure basement parking, within an exclusive private setting.

Buyers can benefit from a holding income forecast to exceed $120,000 p.a. generated by the existing nine-unit complex which operates as The Pelicans Nest short stay apartments.

Michael Milne and Lachlan Burrows of Ray White Commercial (WA) anticipate considerable buyer interest – especially from developer groups.

“The property is exceptionally well-positioned in a strong demographic location close to Joondalup Gate and the freeway to the east, and within minutes of the new Ocean Reef Marina,” Mr Milne said.

“The new Ocean Reef Marina (under construction) will have the capacity for 750 boats and 12,000sq m* of commercial space that includes retail shops, bars, restaurants, cafes, hotel accommodation, and a raft of public amenities.”

The property is being offered for sale by expressions of interest closing Wednesday 20 January 2021, unless sold prior.

*Approximately.