2 Fomiatti Street Ashby WA 6065

Mixed-use pre-construction | 51 units & 7 commercial | Bushfire overlay | No flood/heritage | FTTP/5G coverage This property presents a forward position in a suburb undergoing intensification, anchored by its commercial component which diversifies income risk and capitalises on permissive zoning. The scale of the development, as a mid-rise precinct, signals institutional-grade density that typically stabilises long-term values, best serving a patient capital buyer comfortable with a pre-construction timeline and oversight requirements. The existing house offers immediate, though likely transitional, holding income on a lot whose value is already substantiated by the approved development potential. Proceed with the understanding that pre-construction status carries planning and delivery risk, with costs embedded in potential delays and specification variances. The commercial logic lies in securing a unit within a catalyst project before completion premiums apply, but requires thorough due diligence on the developer’s execution capability. Acquire for a long-term hold to realise the uplift from area transformation, using a Propcred report to pressure-test the viability assessment, clarify bushfire mitigation costs, and secure development-compatible insurance. * **54 Fomiatti Street:** Sold for $640,000 in Nov 2024. This sale, showing strong annual growth from its 2013 purchase, demonstrates solid long-term capital appreciation in the immediate locale, providing a credible benchmark for established housing values that the new development will aim to exceed.