CANBERRA Investment Corporation has bought a 30% interest in a 16 stage residential subdivision in Port Geographe, Western Australia.
The Port Geographe project is a joint venture, formed in 2004, between Macquarie Bank, WA developer Luke Saraceni’s Saraceni Properties and Axiom Properties.
Stages one to six of the 598 lot Port Geographe residential subdivision, which includes 396 canal lots, are already 100% pre-sold and construction across those stages is well advanced. Settlement of stages one and two is likely to commence in February 2008.
CIC’s managing director Col Alexander said the company’s investment in this project furthered its push towards geographic diversification.
Australian Property Journal
