Ariella Private Estate in Brabham is set to expand after acquiring adjacent land

28 March 2019

We’re pleased to announce our acquisition of a 20.2-hectare site directly adjacent to our best-selling project, Ariella Private Estate in Brabham, Western Australia.

This means the project is set to welcome another 400 families into its community over the next 4 years which is already home to 300+ families since the project’s launch in 2015. 

Within the north-east growth corridor of the Perth metropolitan area, Brabham has been a high performing area, with relatively low supply and strong, consistent demand. Brabham is 20km from the Perth CBD on the fringe of the Swan Valley region and among some of Perth’s most popular wineries, restaurants, parks and reserves. 

Cedar Woods Western Australian State Manager, Ben Rosser, said the purchase was consistent with the Company’s history of counter-cyclical acquisitions and capitalised on significant benefits by being adjacent to an existing estate of the Company.

“The timing of this acquisition is ideal in terms of both the point in the property cycle and in enabling the extension of the highly successful Ariella project, the Company’s strongest performing in a national portfolio of 34 developments. This purchase will enable the realisation of significant efficiencies that would not be achieved if the land had been purchased as a stand-alone parcel.”

The land was purchased for $28.25 million, with payment on deferred terms and settlement in July 2019, from private landowners Minx Pty Ltd and West Swan Pty Ltd, and is anticipated to contribute to earnings from FY21.

The property is zoned Urban and is expected to yield approximately 380 lots. It is close to major transport routes via Lord Street and will appeal primarily to first and second homebuyers.

Ben Rosser said Cedar Woods is actively pursuing well-located sites and the creation of quality development and community outcomes.

“Cedar Woods has a strong balance sheet, with ample capacity to fund new acquisitions and existing projects and is actively evaluating both land and built-form opportunities across multiple states."