29 Apr Revival of Moore River South Sale Bid
JLL have relaunched the Moore River South sale process, targetting international investors and developers, and are hopefull the property will reach $60 million. The 2103ha property is being billed as having the potential to be a self-sustaining urban area because any developer would have the licenses needed to operate water and sewerage services, plus a 10MW solar farm.
The facts that Moore River Company are not developing the property themselves, and the Property has been on the market 4 years without a sale would suggest the proposed development has become too costly to develop. The Statutory Planning Committee has imposed very onerous conditions.
Two separate roads into the property will need to be constructed to mitigate extreme bushfire risk; this will be hugely expensive. Added to this is the costly arrangements for the supply of power and water. These costs would be passed on to prospective buyers, who would also have to meet the additional high costs of building in a bushfire prone area. Should the development go ahead, it will be hard to attract buyers to purchase individual lots with such expensive building costs.
In addition, a high level flora assessment will need to be made to confirm or deny the presence of threatened ecological communities in areas classified as Woodland or Shrubland. If a threatened ecological community is found, a referral will be required under the Environmental Protection Biodivesity and Conservation Act (1999). This could impede development of stage 4.
FOMRE believes the proposed development is a no brainer; their concerns are outlined in the following video:
FOMRE’s Concerns with Proposed Development at Moore River South
FOMRE continues to oppose this development at every opportunity.
Revival of Moore River Bid (Article in West Australian West May 1, 2018) can be seen on the following link
Further media artcles in the West Australian can be seen below:
Business News May 1, 2019
Correspondence May3, 2019