Large Lancelin landholding hits market, north of Perth

With Mr Matthews passing last year, the proceeds of the sale of the property fall to his not-for-profit charity, the Karakin Foundation, which assists adults with intellectual disabilities, offers educational scholarships and provides specially adapted homes for US veterans with a disability.

Around 100 kilometres from the Perth CBD, the property stretches from the fishing and holiday community of Lancelin South to Breton Bay and has a 21-kilometre frontage to the Indian Ocean Road.

Axia Corporate Property’s Wayne Mitsikas and John Garland and JLL’s Sean Flynn, Clayton Smith and Geoff Warriner have been appointed to broker the holding.

The bulk of the property comprises the Karakin, San Angelo and Baramba Farms, which combined comprise around 8700 hectares ofproductive broad-acre farmland. Reliable rainfall and fertile sandy loam soils have underpinned the cultivation of cereal and legume crops along with grazing.

The holding also included around 1900 hectares of rural and coastal conservation land. Much of that portion has the potential for other rural pursuits and resource extraction enterprises.

While under Mr Matthews’ control, planning approval was granted for the subdivision of the 300-lot Seaview Park rural residential estate.

Approval was subsequently gained for the master-planned Lancelin South development, with up to 4000 residential lots across 540 hectares. The first 50-lot stage of that project is underway with infrastructure installed and 22 lots ready for sale.