20 Forbury Street, Lakelands WA 6180

Vacant boutique development land | 15.5 hectare parcel | Near coastline | Mandurah council area This property is a substantial landholding within a defined boutique estate, presenting a rare development-scale opportunity atypical for residential markets. Its size and location in The Gardens at Lakelands, surrounded by conserved woodlands and minutes from the coast, positions it for a buyer seeking a strategic land bank or a bespoke, low-density project, rather than a standard home build. The offering serves a capital-rich investor or developer, not a typical homebuyer. The primary risk is the illiquidity and holding cost inherent in a large, unserviced parcel, requiring significant capital outlay before any return. The opportunity lies in subdividing or developing at a premium, leveraging the estate’s curated character. Given the scale, this is a long-term strategic holding; its value will be dictated by rezoning potential and infrastructure rollout, not conventional housing market movements. Recent comparable sales data is limited for a parcel of this scale. The sale of this specific lot for $308,000 in August 2025 provides a direct benchmark, though it reflects a per-hectare value not comparable to standard residential lots. The nearby sale of 34 Forbury Street, also vacant land within the same development, confirms ongoing transaction activity in the estate. This context suggests the boutique development is achieving sales, but the atypical size of this lot makes direct value inference challenging without detailed feasibility assessment.