The South West village of Cowaramup is gearing up for a spate of residential development activity as a handful of long-term land owners in the area prepare to subdivide their properties.
The South West village of Cowaramup is gearing up for a spate of residential development activity as a handful of long-term land owners in the area prepare to subdivide their properties.
Located 12 kilometres north of Margaret River along Bussell Highway, the village of more than 700 residents has almost doubled in population in the past five years after staged releases of two residential estates. Its population is forecast to hit 3,000 residents within the next 15 years, once long-awaited land hits the market.
Long-term resident and Down South Realty principal Rod Duggan told WA Business News one of the oldest residential estates in East Cowaramup, Cowara Heights, belonging to his family, was undergoing a new re-zoning.
Mr Duggan said an undetermined number of lots ranging from 550 square metres to 800 square metres in a stage four release would likely be available for pre-sale within 12 months.
“Sales of Cowara Heights were slow to begin with but over the past 18 months any properties coming up for re-sale have been snapped up fast…I’ve never seen things move so quickly since I began Cowaramup Agencies in 1980,” he said.
Fellow Down South Realty principal and local identity Neil Earl said his family had owned land in the area for the past 100 years and planned to release land by October.
The family has just received approval to subdivide around 50 hectares of land south east of town and plan to create 250 lots at their Cowaramup Country Estate, which will be released in stages beginning with the pre-sale of 100 lots.
A number of commercial lots along Bussell Highway will also be available.
“Cowaramup has a great community spirit and will grow into a really nice town. Development has been stymied in the past because there hasn’t been enough land released or infrastructure to do it,” Mr Earl said.
The estate will be fully serviced with underground power, town water and deep sewerage and will be developed around parkland featuring a vegetated stream and recreation oval.
To the west of Cowaramup, developers of the sought after Parkwater Estate are seeking approval for a new subdivision.
The 400ha parcel was acquired in the early 1990s by Topsouth Holdings, a group of investors who have since sold over 260 lots in the eco-friendly estate.
It is understood a number of large lots between 800sq m and 2,000sq m could be ready as early as September.
Mr Duggan believes the up-coming residential subdivisions in Cowaramup will ease some of the pressure on housing in Margaret River and generate more commercial development activity along the town’s high street.
“The high street will build up within four to five years and eventually you’ll see a supermarket, restaurants, fashion outlets and travel agencies,” he said.
