Sold
22 Redgate Road, Witchcliffe, Margaret River WA 6285
Sold price: $2,575,000
Sold: 14 Jan 2022
Sold
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7 Bedrooms
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3 Bathrooms
House
View
PRIME DEVELOPMENT/ RURAL LIFESTYLE WITH 3 HOUSES
On offer is a rare opportunity to secure a potential 32-lot development opportunity in the rapidly expanding Witchcliffe township, a satellite suburb of Margaret River in the pristine wine growing region of south west Western Australia.
Developers note, this 21ha property has received the support of the Augusta Margaret River Shire Council on the 22nd September 2021 supporting the new structure plan to develop 32 Lots starting at 2,000sqm similar to surrounding land releases. The structure plan has been submitted to the Western Australian Planning Commission for their endorsement.
With the Development Approval process under way a window of opportunity is currently open for a short time. With generational family succession planning occurring, the decision to sell has been made. The Commission's endorsement is expected in the next few months.
This is definitely one of the most picturesque land holdings immediately adjacent to the Witchcliffe townsite separated only by bushland reserve and the "Rails to Trails" which continue into Margaret River just 10km away.
The natural beauty of this holding is enhanced by the attractive bushland backdrop to the east and north of the proposed Lots, in addition to the natural water system that runs along the western boundary. Presentation of resulting Lots will be superior to any previously offered in the immediate area, nestled in an attractive natural setting with a 2-minute walk to the main street, these Lots should be some of the most sought after in the area.
Three modest dwellings are currently rented giving you some cashflow whilst finalising the development, or could provide great weekend getaways if you were to acquire as a land bank.
The Witchcliffe precinct is fast establishing itself as a desirable Margaret River lifestyle location, and for good reason. Wineries, pristine beaches, bike trails, and healthy living are on offer in a small country town setting. Recent sales of large lots being snapped up pre-release, on an adjoining Redgate Rd property is evidence of this heightened demand for the area. Lot 12 is positioned extremely well to take advantage of all that has come before it.
As an astute Developer you will understand that in order to take advantage of the hot market conditions down south, selling Lots subject to Titles being issued post WAPC approval and following due process could be feasible. 70% of lots next door are sold or under offer subject to development approvals and titles being issued at time of writing.
Super convenient. Take a very short walk to the main street with cafes, bakery, wine cellar door, liquor store with more to come over time as Witchcliffe continues to flourish. For those who like to cycle the purpose built "Rails to Trails" adjoining the property gets you into Margaret River in under 30 minutes. Also a great base to load the beach gear into the car and head to one of the many pristine coastal locations. Iconic Redgate Beach is less than a 10-minute drive for fishing, surfing or walking the stunning coastline along the Cape to Cape track.
It's obvious why Witchcliffe is fast becoming an affordable lifestyle destination, not only to live but also establish a down south getaway for internationals, east coasters and Perth buyers alike.
The resulting Lots will be a very attractive proposition to a wide buyer profile.
As a passive lifestyle investor looking to put your foot on a generational asset with some cash flow in place, the longer-term land bank is also very attractive.
Consider a syndicate of family or friends, formulate an entry and exit strategy, and enjoy this picturesque property with multiple dwellings with a plan in place to maximise the return when the market peaks.
With demand for lots likely to continue to come from international buyers, east coasters, sand gropers and Margaret River locals looking to escape to a country setting on a generous sized block, options are many, don't delay, get your syndicate together today, do your due diligence and secure this exciting opportunity.
Call David Cross for an Information Memorandum on 0439 496 926.
Property snapshot by reiwa.com
This property at 22 Redgate Road, Witchcliffe, Margaret River is a seven bedroom, three bathroom house sold by David Cross at JMW Real Estate on 14 Jan 2022.
Looking to buy a similar property in the area? View other seven bedroom properties for sale in Margaret River or see other recently sold properties in Margaret River.
Margaret River overview
The townsite of Margaret River is located in the south west agricultural area, 277 kilometres south southwest of Perth and 48 kilometres south southwest of Busselton. It is located on the Margaret River from which it derives its name. The precise origin of the naming of the river is not known, but it was possibly named by John Bussell in honour of Margaret Wyche, a friend in England who was expected to follow the Bussell's to Australia. The name is first shown on a map of the region published in 1839.
In 1910 the Margaret River Progress Association wrote to the Minister for Lands requesting a townsite be declared at "the Upper Margaret Bridge". The reason given was that "the district is likely to be dotted with public buildings several miles apart in the near future if a townsite is not made available shortly". The District Surveyor who inspected the area preferred an area near the lower bridge on Caves Road, but this land was not available. Lots were surveyed in 1912, and the Townsite of Margaret River gazetted in 1913. In 1918 the name of the townsite was changed to "Margaret", but it was changed back to Margaret River in 1927, due to local usage of the name always being Margaret River.
Margaret River quick stats
High end
$825k
Median
$720k
Low end
$625k
10.9 %
Annual growth
$720k
Annual median sales price
$700pw
Annual median rental price
