The onset of the GFC made it implausible for developers to offer house and land packages separately, as lending to home buyers and demand for vacant land both reduced significantly. The GFC also caused an abundant land supply, but this site benefited from proximity to the M7 motorway, Norwest Business Park, schools and the main Glenwood shopping village.
White & Partners recognised an opportunity in Glenwood to acquire and deliver 46 residential lots on a 4.95ha site from a distressed vendor. The delivery of the house and land packages was achieved by working closely with major home builders Clarendon, Metricon and Castle Homes. Despite operating in an environment where buyers and banks were hesitant about the cost of building a house after purchasing land, all lots were delivered within 18 months.
White & Partners initiated an extensive marketing plan, including constant engagement with buyers to tailor the offer of incentives and the construction of various types of specification homes on site. Within 3 months, 100% of sales had been achieved.