Fiveight invests in major residential development site in Harvey growth corridor
Fiveight is committed to reactivating plans to transform a 260ha coastal site in Binningup, in WA’s South West, into a vibrant community after purchasing it earlier this month.
The site, which is adjacent to the existing Binningup township, is located just 25 minutes north of Bunbury and 1.5 hours south of Perth in one of the fasting growing shires in Western Australia.
It features 2.2km of beach frontage and is well known because of its existing nine-hole golf course. It has potential to include a mix of residential, retail and leisure uses.
Head of Fiveight John Meredith said the proposed development had a 30-year timescale and has the potential to create a vibrant and sustainable new community with enviable lifestyle opportunities.
“This is Fiveight’s first acquisition of a greenfield land development and a project that represents significant strategic importance within the popular South West tourist region of WA,” Mr Meredith said.
“We know that demand for quality housing is on the rise and will only become more vital as the area grows and develops over time. Our mission is to own, develop and invest in meaningful places that connect, and we believe that Binningup offers huge potential to do deliver on this commitment.
“Although this project has a long horizon, we are committed to working closely with residents and community organisations to develop a sustainable, long-term plan for the site, one that will create a vibrant, socially connected local community that people will be proud to call home. And one that creates positive opportunities for future residents of Binningup while bolstering the amenity and infrastructure for those who already call it home.”
Mr Meredith said a key priority would be to explore ways to re-open the nine-hole golf course—an important asset to the Binningup area—which has been neglected and no longer operational.
“We are working with consultants and contractors to explore how we can re-open this facility as soon as possible,” he said.
Fiveight will soon announce a series of community consultations with stakeholders and interested parties to move the discussion forward.
Local residents have been invited to sign up to a newsletter that will keep them informed about the proposal and consultation process.
