22 Redgate Road Witchcliffe, MARGARET RIVERLow to Mid $2M Range
Listing type: For Sale
Plot Size 21.61
Property type: House
RUN THE RULER OVER THIS WITCHCLIFFE OPPORTUNITY
Potential development site, prime location in Witchcliffe.
It’s hardly a secret anymore, Witchcliffe is well and truly on the move as an ideal destination to establish a down south getaway in a burgeoning country community. Conveniently located less than 10 minutes south of Margaret River with access to the famous Margaret River wine region and pristine surf coast, its easy to see why Witchcliffe is fast becoming a desirable address.
There have been a number of successful land releases along Redgate Road over previous years and more recently the release of blocks at the Witchcliffe eco-village which has attracted serious capital investment around the immediate Witchcliffe town site.
22 Redgate Road is 21.6ha and sits in a prime location to benefit from all this activity. This attractive rural property has been held in the same family for generations and is almost directly adjacent to the Witchcliffe town site, only buffered by bushland reserve. One of the most aesthetic holdings along Redgate Road, this site could produce some of the most desirable home sites with bushland backdrops, native winter creek line and within an easy walk to the main street cafes.
This property has had an Endorsed Structure Plan in place since 2010 for smaller blocks dependent on waste water infrastructure coming to Witchcliffe, which has not eventuated. In the meantime the release of larger lot subdivisions close by on Redgate Road has proven that demand for big blocks is a more desirable outcome.
Here is the opportunity. A well respected independent town planner who has been working closely with the family over the past decade has more recently made progress with authorities to pursue a new structure plan based on larger blocks with onsite waste water treatment. Similar to other successful land releases in the immediate vicinity on Redgate Road. A draft concept plan indicating approximately 30 lots ranging in size from 2,000sqm to over 3,000sqm is on the drawing board. Timelines and outcomes are dependent on due process, however with a few independent inquiries you will be well informed and can make a calculated assessment for yourself.
The Grandparents who own this title will sell now if the price is right, giving you the opportunity to progress a new Structure Plan through to potential land sales. Consider a syndicate of business partners, family members or friends to chip in and share in the opportunity.
In the meantime there are three existing dwellings currently leased for modest amounts to reliable family members and tenants collectively for just under $1,000 per week. These could become weekenders for new owners or happily tick away producing reliable income.
22 Redgate Road would also make a fantastic lifestyle investment set in a rural environment. Consider designing a generational family home for everyone to enjoy now and progress development down the track. Or simply land bank and pass onto the next generation as part of your succession planning so the kids can reap the rewards from your foresight.
One thing is for sure, the expansion of Witchcliffe is well underway, don’t get left behind on this one.
Call your Down South Specialist, David Cross on 0439 496 926 to organise a private inspection.