The strip from Perth to Mandurah along the Old Coast Rd is beginning to take shape. Careful buying may be lucrative.
(ASX:MGR) has a development services agreement with Binningup Nominees to transform over 270 hectares into a coastal community. The Binningup Beach site features ove 3kms of frontage to the Indian Ocean, a nine-hole golf course and mature trees. The site is expected to furnish 2,000 dwellings with a mixture of land lots, light-weight housing and apartments. The golf course will be extended to 18 holes and provide opportunities for resort style accommodation. Binningup Beach is 140 kilometres south of Perth. Work should start in 2009 and the project duration is expected to be 20 years.
MGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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