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. White & Partners recognised an opportunity in Glenwood to acquire and deliver 46 residential lots on a 4.95 ha site from a distressed vendor.
Whilst the onset of the GFC meant that there was abundant land supply, the site benefited from being within close proximity to the M7 motorway, Norwest Business Park, schools and the main Glenwood shopping village.
White & Partners pursued the delivery of combined house and land packages by working closely with major home builders: Clarendon, Metricon and Castle Homes. House and land packages were offered on lots ranging between 350sqm and 500sqm. 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.
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.