Port Bouvard has bought a development site in Dawesville, Western Australia for $2.95 million.
The transaction is the first purchase for Port Bouvard after embarking on a new strategy to regrow its property portfolio last month.
The land is purchased subject only to approval by the Western Australian Planning Commission of a subdivision plan.
The company is working to a program of receiving the planning approval, developing and marketing the proposed lots within 12 months.
Port Bouvard said since its strategic announcement in July 2006, the company has received a number of other opportunities, which it is currently evaluating.
By Kathryn O’Meara
