Margaret River’s Spindrift opens land sale with strong local interest, developers Goldfields say

Margaret River’s newest subdivision is showing strong sales interest as the first blocks went on the market this week. Spindrift, which encompasses Brookfield’s future development zone, will ultimately house another potential 1000 residents on 423 lots bought by developers Goldfields earlier this year for about $8 million. As reported by the Times, site works were already under way and local realtor Brook Palmateer said Goldfields was buoyed by immediate interest in the land release. The associate director at Acton Belle Property said local homebuyers seeking to build were a strong presence. “That early interest has been all the greater because there are very few blocks on the market in the region,” he said. “Everything has sold, there is hardly anything titled on the market, and the only things that are titled at the moment are on very steep blocks that are harder and more expensive to build on. “We have a significant lack of stock at this price point for people to choose from, across the whole South West region, but particularly in Margaret River.” Sales interest was on a par with subdivisions in metropolitan Perth, he said. The first blocks were for sale at $194,500, but bigger blocks would be about $232,500. Goldfields WA general manager Gareth Wilson said the estate would build two main entries off Andrews Way and contained 4.87ha of public open space as well as the retained Brookfield Forest. “One of these (public open spaces) will extend the existing Abelia Avenue reserve and a northern public open space will feature a living stream and will be revegetated with native species planting,” Mr Wilson said. “There are no commercial sites proposed on the masterplan.” While there were no specific affordable housing measures, there were some smaller blocks at the lower price point measuring above 300sqm. “Spindrift will provide a broad range of land sizes that will cater to a diverse range of purchasers and will add much needed land supply to the Margaret River market which has been starved for some time,” he said. Spindrift was first off the rank, but another 470 lots was in the pipeline across the road at the proposed ex-Weightman Farm project now owned by the Yolk Property Group. In November last year, the Times reported Yolk’s plan involved a possible village development with clubhouse and green belt, which could feature WA’s first “build to rent” incentive scheme. Yolk’s Tao Bourton said summer was the prime time for advancing the housing project, but site works would not start until next year if the structure plan was not finalised and approved before the end of this summer.