At its meeting on 11 October 2022, the City of Wanneroo Council adopted the Neerabup Industrial Area Lot 9100 Business Plan for advertising in accordance with section 3.59 of the Local Government Act 1995.
A financial analysis and multi-criteria analysis was completed in June 2022 to assess various development and delivery options for Lot 9100, identifying a preferred option based on financial return and alignment to the City’s strategic objectives for the site and the broader NIA.
The following development and delivery options were analysed:
- Develop lots and sell;
- Develop lots and lease as ground leases;
- Develop lots and sell some lots and lease other lots as ground leases; Develop lots and sell most lots but also retain five lots and develop the improvements on those 5 lots and then lease those five lots; and
- Sell the englobo development site.
The preferred delivery option recommended is Option 1 (Develop and Sell), whereby the City develops the site into 41 subdivided lots, and then sells the lots to market. This is recommended as the preferred delivery option as it:
- Provides the best financial return to the City;
- Ranks highest in the Multi Criteria Analysis; and
- Is the lowest risk in terms of being a standard subdivision and freehold sale of land.
Based on the financial analysis, a Business Plan for Major Land Transaction Neerabup Industrial Area Lot 9100 was prepared in accordance with Section 3.59 of the Local Government Act 1995 and corresponding Regulations. It outlines the proposed land development and subdivision of Lot 9100 within the NIA with the subdivisional land to be sold to market for the purpose of industrial use.
Please refer to the full Council report for details.