August 2022 Celsius Land Project Update
Arabian Court Unit Trust
Following a recommendation for approval by the Shire of Armadale in late June 2022, the Western Australian Planning Commission is now considering approval of the Arabian Court local structure plan. Celsius is also preparing the subdivision application which is due for lodgement in September 2022. The project feasibility will also be reviewed in September 2022 prior to a decision being made on whether to proceed to engineering design.
Jayes Road Unit Trust
The Local Structure Plan is currently being advertised, with advertising closing on 10 September 2022. An earthworks development application was lodged for approval in July 2022, with advertising completed in August 2022 and a decision expected in the coming month. Subject to the outcomes of the above planning processes, an early earthworks package will be considered on the basis a reasonable contract price can be achieved.
Celsius Land is also continuing to manage two regional projects, one which is under construction in Exmouth and one where structure planning will soon commence.
Market conditions from previous months have continued with limited resources currently available for construction and some modest price growth for residential land.
Regards,
Brenton