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OVER 11,000 HECTARES OF LAND…

PERTH, 1 June 2021 – One of the largest private land holdings within 100km north of the Perth CBD and less than 50km from the northern metro suburb of Two Rocks has been placed on the market.

Axia Corporate Property and JLL have been jointly appointed to exclusively market a generational land holding which has been in the same Texan ownership for over 40 years.

This impressive landholding of over 11,000 hectares (27,000 acres) was amassed by Texan-born entrepreneur and philanthropist Joseph Matthews.

On Mr Matthews passing in 2020, the proceeds of the sale of the property fall to his not-for-profit charity the Karakin Foundation which assists adults with intellectual disabilities, provides educational scholarships and provides specially adapted homes for US veterans with a disability. In recent years, the foundation expanded its focus to providing clean drinking water and healthcare facilities in the developing nations of South East Asia and Africa.

With offers for the property expected to well exceed AUD$40million, the sale will effectively represent a significant charitable donation and the eventual buyer will therefore have the dual benefits of procuring a substantial and dynamic property holding and making a sizable contribution to a very worthy course.

Considered the largest single land holding in the district, this property stretches from the idyllic fishing and holiday community of Lancelin South to the locality of Breton Bay and has an incredible 21-kilometre frontage to the heavily travelled Indian Ocean Road.

The dominant portion of the property comprises three distinct tenements being ‘Karakin, San Angelo and Baramba Farms’ combining to create approximately 8,700 hectares (21,500 acres) of productive broadacre farmland. The farmland portion of the property benefits from reliable rainfall and fertile sandy loam soils, which have over the years primarily supported intensive agriculture, cultivation of cereal and legume crops and grazing of livestock.

The combined holding also features an additional circa 1,900 hectares of rural and coastal conservation land with much of this land having potential for other rural pursuits and even possible resource extraction enterprises (subject to further investigation and approval).

Ever the futurist Mr Matthews had visions of a massive expansion of the Lancelin residential community. Over the years he successfully secured planning approval for the subdivision of the 300 lot Seaview Park rural residential estate. He later secured approval for the master planned ‘Lancelin South’ development which is envisaged to eventually deliver an entire new community of up to 4,000 residential lots covering an area of approximately 540 hectares.

The 50 lot Stage 1, including estate entry statement, sale office, and extensive initial potable water and sewer infrastructure for Lancelin South has already been fully constructed at a cost of over AUD$5,000,000. Of the lots already created, some 22 are on-hand and sale ready. The incoming purchaser can therefore seamlessly continue the project and generate almost immediate sales revenue.

Aside from establishing a new residential community with home sites ranging from 500sqm to 5,000sqm, Lancelin South is planned to include 122 light industrial lots, 3 primary schools, a secondary school, a retail town centre, extensive parklands, and direct pedestrian and cycle connections to the pristine beach, Lancelin townsite and the nearby Lancelin Golf Club.

The holding also includes 5 residual rural lifestyle lots within and adjacent to Seaview Park estate ranging in area from approximately 1ha to 6.3ha and these lots are also sale ready.

The seller has entrusted this vast farming and development opportunity to a specialist team which includes Axia Managing Director, Wayne Mitsikas and Axia Special Projects Director, John Garland, JLL Director of Sales & Investments Sean Flynn, and JLL Directors of Agribusiness Clayton Smith and Geoff Warriner.

According to Axia Corporate Property’s Wayne Mitsikas and John Garland, such an opportunity to find a significant coastal related land offering of this scale, only 1 hour from Perth’s CBD, is exceptionally rare.

Mr Mitsikas and Mr Garland say the landholding presents excellent opportunities to further develop the farming operation, and subdivision areas, or to simply landbank as a future investment.

Clayton Smith of JLL’s Agribusiness team said he sees a very big future for Karakin, San Angelo and Baramba Farms with their proximity to the Perth metro area and its export infrastructure, and with favourable rains, high stock carrying capacity, productive soils and multiple titles.

“We see plenty of scope for various rural pursuits here including the possibility of reintroducing intensive agriculture and expect the market will eagerly pursue this opportunity,” Mr Smith added.

Sean Flynn of JLL said that like many near Perth metro regional locations, Lancelin has seen an uplift in buyer activity, with several of the lots at Lancelin South currently being considered by potential purchasers.

“We see this as a structural change as buyers seek to relocate to the outskirts of major cities and nearby rural communities that offer a viable commute and an ocean-based lifestyle” said Mr Flynn.

“This private land holding has the added benefit of being only 2km from Lancelin with direct access to a pristine beach, some of WA’s best cray and deep-sea fishing and a golf course literally next door,” he added.

Axia Corporate Property and JLL are offering the property for sale by Expressions of Interest closing 14th of July 2021.