Point Grey is 15Km from Mandurah which has been amongst the fastest grwoing areas of WA and have quite a few similarities with Point Grey. The potential of the project is mind blowing keeping in mind all the approvals and Marina.
The prices for different lots in Mandurah do range from 100k to 800k depending on the size of the lot. The 100k lots are smaller in size something like 300sqm and far from beach. The bigger and better lots are quite expensive.
PBD has valued point grey 1.3b+++ end value and I dont doubt it. Simply, property in WA is very expensive and beach suburbs are extremely hot. Marina also plays a significant role for example the average house in Mindarie has lost 100-200k since WA gov announced that they will hold Marina for the time being.
The other projects do add value as well particularly Milton and Bursewood both are valued close to 3c per share. All in all, it looks really interesting.
Cheers
Point Grey, page-5
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