National residential developer Stockland plans to develop 100 new townhouses on a newly-acquired 2.84-hectare site in Perth.
The developer acquired the site for $17.9 million.
Located 4.5km north of the Perth CBD, Stockland says its Glendalough townhouse development aligns with the Western Australian government’s focus on encouraging development close to existing infrastructure, and contributing to the state’s planning target of 47 per cent of the city’s growth in inner-urban locations.
“This site is an important opportunity to help deliver on the ‘missing middle’ in Perth’s inner suburbs, increasing choice for home-buyers through well-designed terrace homes, close to everything the city has to offer,” Stockland WA general manager Col Dutton said.
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The concept of the “missing middle” has garnered more attention recently, defined by smaller dwellings in close proximity to central business districts.
Cutting back on the land needed to construct large houses and leaning more towards medium-density housing has provided what governments believe is a reasonable compromise to residents’ desires to live not only comfortably but conveniently.
New South Wales has faced similar challenges, where only recently the NSW government released new codes and guidelines to help ease and streamline the development process for medium dwellings, in an effort to respond to the growing need for new homes.
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Subject to approvals, Stockland’s “terrace homes” will be set in a walkable community setting, featuring 2,500 square metres of parklands, including large mature trees, just 600 metres from Glendalough train station.
Stockland’s Glendalough site purchase follows a $91 million acquisition of more than 4,600 residential land lots over three sites last year.
This acquisition marks the sixth standalone medium density site acquired by Stockland since setting its medium-density strategy, with purchases across Victoria, Queensland and Western Australia, further adding to a future pipeline of more than 3,000 terrace homes.