September 2023 Celsius Land Update
The Perth land market performed strongly in the first quarter of this financial year; continuing a noticeable improvement in sales volumes since April 2023. There has been some modest price growth in the land market over this time; however these increases generally have not caught up to the increase in civil construction and capital costs experienced over the past 18 months, which have compressed margins.
Celsius Land is excited for its first land release at Piara Waters on 13 October, with 38 lots being released for sale to our VIP list of inquirers. Earthworks on the first stage are complete, providing the opportunity for the VIP inquirers to walk over the finished lot levels before the release; with civil works (sewer, water, roads etc.) due to commence later in October.
Champion Lakes is also progressing with the engineering design due for completion by 29 September. A decision will be made on tendering the first stage of civil works after the costing for the project has been updated.
From 14-16 September Celsius was in Exmouth for the official opening of 21 Cooyou Close, being 24 units leased to PHI Aviation, developed by the Fowler Group and Celsius. The completion of 21 Cooyou Close was an example of what can be done in a short period by a committed team, with the building contract signed on 4 July 2022. The project was developed by the Fowler Group and Celsius, and had a team of consultants, led by Plus Architecture, and builder that was passionate about the delivery of housing in a regional area in desperate need of housing.
Whilst in Exmouth the Fowler Group and Celsius held community consultation on Superlot D, a 17 hectare site on the Exmouth marina. We enjoyed the opportunity to meet with the local community, who are very passionate about housing for locals in Exmouth, regarding options for the development of Superlot D to deliver much needed housing.
Regards,
Brenton