Media release - 1^st July, 2014

Raine & Horne Commercial WA has been appointed joint exclusive sales agents for a unique 2.37 hectare development site in Onslow, a coastal town in north western Australia, which is the Liquefied Natural Gas (LNG) hub of Western Australia.

The unique site is located at Lot 381 Third Avenue, Onslow, the highest point in the town, and is expected to sell for a significant seven or eight figure sum to a local or overseas-based investor or developer eager for a property within easy access of the region’s LNG riches.

According to selling agent and Raine & Horne Commercial WA Director Anthony Vulinovich, Onslow’s prospects appear to be very positive, especially in light of the September 2013 opening of the Macedon LNG plant, which is a A$1.5 billion BHP Billiton and Apache Energy joint venture. This project is expected to supply 20% of Western Australia’s domestic gas requirements for the next 20 years.

The nearby Chevron-led A$29 billion Wheatstone project is also on track and includes an on-shore gas processing facility located only 12 kilometres from Onslow at the Ashburton North Strategic Industrial Area. This LNG project is heralded as one of Australia’s largest resource projects.

Further underlining the town’s prospects, a number of major firms have established a presence in Onslow, including BlueScope Steel, Hanson Concrete, McMahon Burnett Transport, Pilbara Access, Thrifty, Access Hire, Blackwoods, Toll Ipec, GCS, Veolia, Enzed, Boral and Pilewest.

The Onslow site is zoned tourism under the Shire of Ashburton TPS, allowing for workforce accommodation, while discretionary approval is in place for grouped and multiple dwellings, workforce accommodation and commercial uses.

“This property has many potential uses and different investors will see different opportunities, however employee accommodation would be one suitable use for this site given its proximity to the centre of Onslow and the sweeping elevated views overlooking the picturesque Beadon Bay,” said Mr Vulinovich.

“There is more strategically placed land for industrial subdivision near the airport that will allow for town-based workforce growth among the LNG and associated industry providers,” said Mr Vulinovich, who recently undertook a commercial study of the Onslow Town Centre to analyse local business platforms and potential demand for industrial/commercial assets pending a possible industrial land release at Onslow Aerodrome.

“Close to the town centre, there is a lack of land zoned for industrial accommodation. When this becomes available, we believe worker accommodation will also be in demand, and our site can cater for a single or multi-stage accommodation development.

“Australia-wide and in particular for WA, this property represents a very rare investment opportunity, being a 23,700 sqm site incorporating elevation, size, access, and viability to develop product with a market that could simply be massive now, while the future scope is unlimited.”

The private syndicate selling the property includes Pearse Herbert, who was born and bred in Onslow and has witnessed the transformation of the town, starting with his upbringing on several stations in the area, including Cane River Station and Peedamulla Station,  as well as his career in mining, and now as a retired local land owner.

Mr Herbert said, “I have seen this town change over a lifetime, and the next phase is exciting. I believe we will see more happen on the back of Wheatstone given the vast resources here.

“I’m planning to stay here in Onslow, but this unique site has so much built development potential it’s time to make it available to the market and see what can be produced on such a unique land holding.”

The town is also set for an injection of millions of dollars into its infrastructure, according to Mr Vulinovich.

“Access to Onslow is only going to get better for business and travel commuters, as well as mining contractors, with the 2015 start of the $30 million Onslow Aerodrome project,” said Mr Vulinovich.

“Onslow is at an exciting stage in its development and given its proximity to future projects slated for the Carnarvon Basin, it’s even more exciting when a rare blank canvas such as Third Street becomes available.”

The site is being sold by Offers to Purchase closing Wednesday 23rd July, 2014 at 4.00pm (WST). For further information please contact: Anthony Vulinovich on 0411 516 343 or 08 9380 4500.

-ENDS-

For further media information contact:

Anthony Vulinovich, Director, Raine & Horne Commercial WA on 0411 516 343

Andrew Harrington, National Marketing & Communications Coordinator on 02 9258 5400