NOW SELLING LOT 7 TAVERN SITE Information Memorandum VASSE VILLAGE CENTRE, WESTERN AUSTRALIA
WHERE IS VASSE? Vasse is an award-winning estate situated 10km west of Busselton at the junction of the Busselton Bypass and Bussell Highway, within the City of Busselton. Known as the development hub of the region, Vasse as a community and town centre is providing exceptional growth in the supply of residential and commercial land and building construction. Its evolution is significantly boosting the local economy, population growth and employment opportunities within the region. Accompanying road and infrastructure construction is programmed to run continuously over the next 8 to 10 years ensuring Vasse is the central link between Busselton, Margaret River and Dunsborough, approximately 230km south of Perth. Perth 2.5 hours DUNSBOROUGH Margaret River 30 minutes 1
THE TAVERN OPPORTUNITY - LOT 7 Suitable organisations are now being sought to buy this outstanding Tavern opportunity at Vasse Village Centre by way of Expressions of Interest. As the gateway to the internationally renown South West region, Vasse Village Centre will form part of a thriving tourist destination and growing cultural, retail and commercial hub for the greater community. This site is prominently located at the entry to the Village Centre directly opposite Coles Express service station and will form an iconic showpiece to the Estate servicing local residents, surrounding communities and South West s thriving tourism industry. Note: The sale of the property is subject to obtaining associated Liquor Licensing approvals. The developer has created Development Guidelines for the Vasse Village Centre and whilst these will not specifically apply to the Tavern built form, materials and colours will form an important element of the building approval process. The developer anticipates a significant and distinctive structure being constructed on the Tavern Site. Lot 7 2
OVERVIEW OF VASSE ESTATE Vasse has been meticulously planned, designed and built to suit the requirements of a modern lifestyle without losing the tranquility and natural surrounds that make the South West of Western Australia such an appealing place to live, work and play. Future Vasse Bypass When fully developed Vasse will comprise approximately 2,100 residential lots spread across three interlinked estates. In addition, there will be 130 light industrial lots, two primary schools, a public high school, private school, National Lifestyle Village, the proposed new Southwest Institute of Technology (SWIT), parks and sports fields and the Rails to Trails greenbelt, a 40 metre wide linear park that passes through Vasse, ultimately connecting Busselton to Augusta. At the heart of Vasse is the new Vasse Village Centre with its entry incorporating the proposed new Tavern Site, the perfect place to meet, shop and enjoy the renowned produce of the surrounding region whether a resident of the area or just passing through. LIGHT INDUSTRIAL ESTATE RAILS FOR TRAILS DAWSON ESTATE FUTURE PRIMARY SCHOOL SITE CAPE NATURALISTE COLLEGE Bussell Highway ARMSTRONG ESTATE NEW VILLAGE CENTRE VASSE PRIMARY SCHOOL BIRCHFIELDS ESTATE Busselton Bypass These are just some of the reasons why Vasse is one of the most attractive places to live, visit and invest. VASSE IS THE perfect place TO live, work AND play Vasse Estate Master Plan 3
Future Vasse Bypass TOWN CENTRE Vasse Village Centre will be developed as an iconic South West tourism destination and will provide five hectares of retail & commercial space and showrooms upon completion. It will comprise a Main Street Coles supermarket, cafés, restaurants, specialty shops, Medical Centre & Pharmacy, professional offices and highway fast food. PROPOSED SWIT CAMPUS The National Broadband Network (NBN) is available and connected to Vasse. It provides local businesses and visitors the luxury of conducting business or browsing using the fastest service in the country, creating immense opportunities. The New Vasse Village Centre Tavern Site Fast Food Fast Food Bussell Highway The Vasse Joint Venture Partners are renowned for exceptional attention to street scape and public space presentation, picturesque boulevards, distinctive public artwork, natural beauty, use of local materials, feature stone work, and country charm. With these features and design elements to be continued through the Village main street and Piazza interface, Vasse Village will be a vibrant, high-quality retail precinct servicing the needs of locals and the extensive tourist traffic passing through Vasse at the gateway to the Margaret River region. Already committed and due to open in 2016 / early 2017: - Full range 3,500m² Coles Supermarket - Coles Express service station - Vasse Medical Centre - Napoleon Promenade specialty retail - National Lifestyle Village VASSE: AN ideal place TO invest 4
MEDICAL CENTRE ARTIST IMPRESSION VASSE ESTATE MASTER PLANNED COMMUNITY HIGHLIGHTS 3 NEW RESIDENTIAL ESTATES, 5,000 RESIDENTS AND PROVIDING MORE THAN 1,000 JOBS DEVELOPMENT COMPLETED OR UNDER CONSTRUCTION 2,100 home sites Birchfields Estate - 550 residential lots, approximately 500 houses complete Village Centre, providing retail, commercial & showroom opportunities Light industrial park of 130 lots Private and public secondary colleges Two public schools Vasse Primary School - 600 students Cape Naturaliste Secondary College - 600 students Dawson Estate - 180 lots constructed, third stage of 200 lots under construction Village Centre Stage I - construction completed on the first 10 lots National Lifestyle Village Coles Supermarket and Coles Express service station, completion early 2017 Sports and recreation facilities High speed NBN to Dawson residential Estate and the new Village Centre Proposed site for SWIT (South West Institute of Technology) Rails to Trails - a continuous 108km green belt connecting Busselton and Augusta. It is expected to become one of the South West regions most significant walking and cycling treks in the coming years National Broadband Network (NBN) available and connected (download up to 95.65mb/s, upload up to 38.29 mb/s, ping 6ms) Proposed Village Centre Public WiFi Source: ABS; URBIS 5
GATEWAY TO THE SOUTH WEST Vasse is ideally located and positioned to benefit from continuing popularity and growth of the South West region including Busselton, Margaret River, Dunsborough and Augusta. Every year, in excess of 500,000 people are attracted to Busselton with more than 400,000 annual visitors passing through Vasse on the way to Dunsborough, Margaret River and Augusta utilising the Busselton Bypass and Bussell Highway. As the only Town Centre situated on the Bypass roads, Vasse Village Centre will be the first Town Centre between Perth, Dunsborough and Margaret River, this together with its highly envious position and prominent exposure, it is not difficult to see why Vasse Village Centre is considered to be the most advanced satellite development in Busselton and one of the most significant developments to the South West Region, poised for exemplary long term growth. 6
TRAFFIC STATISTICS The location will benefit from consistently growing traffic and improvements to road infrastructure including the committed construction of the Vasse Bypass that will provide additional access and vehicle rotation throughout the Village Centre. Construction of the Vasse Bypass has commenced with a programmed completion date of early 2016. This will become part of the proposed bypass road to Dunsborough. Traffic count estimates are detailed below. Current traffic flows adjacent to the new Village Centre development on Bussell Highway Weekdays 7,100 vehicles per day (both directions) 3260 VILLAGE CENTRE ACCESS RD VASSE BYPASS 7810 7810 BUSSELL HWY 14750 Long weekends/fridays 8,840 vehicles per day Future traffic projections (2031) 16,330 vehicles per day on Bussell Highway 17,900 vehicles per day on Vasse Bypass 10,990 vehicles per day on Napoleon Promenade 28,520 vehicles per day on Bussell Highway (at Bypass round about) NAPOLEON PROMENADE 4910 BUSSELL HWY 10920 BUSSELTON BYPASS 15820 Source: Uloth & Associates Vasse Village Traffic Flow Report June 2014 BUSSELL HWY 8180 ORLANDO BOULEVARD 2630 2016 Vasse Village Centre Daily Traffic Flows wth Bypass Extension 7
All traffic to the regions main attractions and towns including Dunsborough, Yallingup, Margaret River and Augusta pass through this major intersection providing access and exposure to the new Vasse Village Town Centre Tavern Site. 8
POPULATION STATS A Vasse Town Centre Retail Study indicates that the current trade area accounts for around 16% of the Busselton population (approx. 5,500 people). The area has grown significantly in recent years with growth expected to continue at a strong level (8.4% between 2013-2016, and 6.4% from 2016-2021). Key Features of the Region based on the latest Census 2011 figures are: The primary Vasse Trade area is attracting young families earning above average incomes - average household income is 6% above the nonmetropolitan WA average and 19% higher than the balance of Busselton 18% of the Vasse population is over 50, compared to 38% in Busselton and 31% in Dunsborough 60% of the population comprises of singles/couples without children or single person households Evidence shows that the trade area is relatively affluent and would support a higher than average expenditure on food, beverage and other discretionary shopping As the estate and population age matures, retail spending is expected to further improve. HOUSEHOLD INCOME Primary Trade Area Secondary Trade Area Main Trade Area Mon-Metro WA Average Household Income $88,014 $72,897 $75,585 $83,018 Per Capita Income (Persons aged 15-64) (%) Avg. Per Capita Income (aged 15-64) $49,136 $46,158 $46,781 $52,500 AGE DISTRIBUTION Average Age 29.5 42.2 39.7 36.7 Aged 0-14 29% 19% 21% 21% Aged 15-19 5% 6% 6% 6% Aged 20-34 27% 14% 16% 19% Aged 35-49 22% 20% 20% 22% Aged 50-64 12% 20% 18% 19% Aged 65+ 5% 21% 19% 13% HOUSEHOLD COMPOSITION Average Household Size 2.8 2.5 2.5 2.5 Couples with no children 30% 36% 35% 30% Family (with children) 52% 39% 41% 41% POPULATION 2013 2016 2021 2026 Group Household 4% 2% 2% 3% Lone Person 14% 23% 21% 24% HOUSING TENURE Main Trade Area 5,470 6,970 9,490 11,020 Owner 14% 36% 32% 31% ANNUAL POPULATION GROWTH % 2007-13 2013-16 2016-21 2021-26 Purchaser 63% 30% 36% 31% Renter 23% 28% 27% 36% LABOUR FORCE Main Trade Area 7.5% 8.4% 6.4% 3.0% Total Busselton 3.9% 3.9% 3.4% 2.9% Labour Force Participation 77% 59% 63% 69% % Unemployed 5% 3% 4% 4% Source: ABS; URBIS 9
96.8 84.4 46.5 7 20.7 23.9 20.12 SITE DETAILS - TAVERN Site Areas: Lot 7: 2,605m 2 BALANCE OF LOT 51 17.2261ha (TOTAL 18.1696ha) 17.8 13.9 26.2 9.1 12.3 14.4 51 25.2366ha BYPASS 30.9 Frontage: 57.1 m - Napoleon Promenade 2.8 m Truncation Access: Bussell Highway to Napolean Promenade Specifical Encumbrances Rights or Interests: Reciprocal parking with developer to construct a portion of the car park area (refer to diagram Village Centre Access & Parking ) Costs of capital participation to be recoverable from the proprietor of Lot 7 Right of Carriageways Site specific signage and Building and Development Design Guidelines to apply to each site FUTURE STAGE 26.5 8.5 24 20.6 17 17 8 12 7 24.4 28.8 21 11 4892m² 53.9 42.5 16.5 30 19.4 35 166 74.4 22.5 23 10 1478m² 1.1 276.2 12 3352m² 17.5 7 15.6 37 8.5 6.5 16.8 11.5 7.8 8 8 18 595m² 6.2 68.7 4 18 7 9 1288m² 23 7 1100m² (2605m²) 37.2 44 36.2 10 37.5 25 42 6.7 10 77.5 Tavern Parking 5.2 31 6.8 19.9 16.5 13 20 2916m² 14.2 8 1161m² 33.7 4.1 29 1 35.5 10 11 5.3 6.3 26 2.8 56.1 38.5 15 20.7 14 1659m² 1 1.4143ha 2 374m² 25 2.8 2.3 30.2 15 23 53.8 Tavern Site 7 1505m² (2605m²) 67.3 30 15 1565m² 25 20.1 3 300m² 18.7 57.1 4.7 10.6 NAPOLEON PROMENADE 50.5 4.2 16 1467m² 2.8 14.3 15 144.5 30 30 30.2 30.2 2 6 18 18 12 4 18 6 12 5 1 13 14 15 14 505 16 18 10 "RAILS TO TRAILS" 3 3 3 3 7 9 7 17 8 17 17 17 17 17 17 17 13 5 5 23 9.2 30.5 47.3 VASSE BYPASS 17 1389m² 30.6 4.2 20.1 30.1 22.8 227.9 6 2096m² 25.4 38.1 4 2146m² 5 2105m² 111.2 68.8 Napoleon Promenade 13 8.5 20.5 4.2 9.9 40.2 74.6 21.2 85 16.6 18 3100m² 55.5 Fast Food Fast Food 36.5 Reserve for recreation and drainage 6018m² 30.7 67.2 1.6 7.2 BUSSELL HIGHWAY 4 16 4 6 2.8 34 17.8 24.8 38.6 113.7 88.8 18 18 14 14 14 BUSSELL HIGHWAY EY 1 14 8 10 2 10 8 9 11
VILLAGE CENTRE ACCESS & PARKING Future Vasse Bypass Recipricol Parking Constructed by Developer Traffic flow Easements, Crossovers & Right of Carriageways Fast Food Exit Only Napoleon Promenade Fast Food Tavern Parking Tavern Site Bussell Highway 11
SALE PROCESS Expressions of Interest are now sought for this exceptional Town Centre Tavern Site opportunity. Respondents must address the evaluation criteria set out within the Expressions of Interest document attached as Appendix A. Following the Expressions of Interest evaluation process, the developer will invite a short list of proponents to provide detailed proposals including binding financial offers. CONTACT DETAILS For further information in relation to Vasse and these exceptional opportunities, please contact the nominated representatives of Hanson Property Group and Lease Equity. Geoff Hanson E: geoff@hansonproperty.com.au M: 0418 926 290 T: 08 9755 8234 Sam Hanson E: sam@hansonproperty.com.au M: 0418 926 964 T: 08 9755 8234 Luke Pavlos E: lukep@lease-equity.com.au M: 0420 880 880 T: 08 9426 1777 Jim Tsagalis E: jimt@lease-equity.com.au M: 0411 760 760 T: 08 9426 1777 visit the website: www.vasse.com.au 12
REPORT ACKNOWLEDGEMENTS (i) Using the median growth band from the Western Australian Planning Commission report titled Western Australia Tomorrow Population Report No 7 2006 to 2026 (WA Tomorrow Report). (ii) ABS Census of Population and Housing 2011. (iii) Report completed by Urbis in February 2014. (iv) Uloth & Associates Vasse Village Traffic Flow Report in June 2014. Disclaimer The information and illustrations set out in this document are indicative only and are subject to change without notice and therefore should not be relied upon or used in any way. The Vasse Development Partners and its agents make no representations or warranties as to the accuracy of any projections, information, illustration, description or statement contained in this document and shall have no liability whatsoever for any loss or damage which may be suffered to any person who relies wholly or partly upon the information provided. Each interested party must make its own independent assessment and investigation of the business opportunity. 13
APPENDIX A - EXPRESSIONS OF INTEREST FORM Lot 7 Vasse Village Centre 14
EXPRESSION OF INTEREST FORM For the purchase of (Tavern Site) Lot 7 Vasse Village Centre Additional information, which supports or clarifies a Registrant s submission may be annexed to this Expressions of Interest form. REQUIRED INFORMATION You are required to submit the following information: QUALIFICATIONS 1. Details of the legal entity being proposed as Registrant, including ABN and registered address if applicable. Please provide detailed information of company structure including its relationship to other companies, and details of any trusts included in the proposed legal entity. 2. A description of the type/style of business to be operated from the Property including services, products etc that you may bring to the Vasse Commercial Village. 3. Background information on your operations including number of premise elsewhere, years of experience in the industry, size and financial standing of the group and details of key personnel. Registrant s Details Name of company/individual: Street Address: ABN: Telephone Registrant s Solicitor Company: Street Address: Street Address: Telephone Proposed Purchase Terms Purchase Price (state if GST inclusive or exclusive): $ Deposit (%): Settlement Period: Special Conditions (if any):
Page 2 of 2 Visuals of the Premise Photographs or sketches of your other operations which best exemplify what is proposed for this site e.g. external signage, design, quality of fittings etc. The Owners have created Development Guidelines for the Vasse Village Centre and whilst these will not specifically apply to the Tavern built form, materials and colours will form an important element of the building approval process. The developer anticipates a significant and distinctive structure being constructed on the Tavern Site. Licence and Other Requirements The sale of the property is subject to obtaining associated Liquor Licensing approvals. I/We the Registrant hereby submit our Expression of Interest......./.../ 20... Signed for an behalf of the Registrant... Name of Signatory (please print) Invitation to Treat Please note that there is no obligation on the part of Lease Equity and Hanson Property Group ( the Agents ), or Perron Developments Pty Ltd and Stawell Pty Ltd (the Owners ) to progress any of the submissions and all parties identified by the Agents as preferred are subject to approval by the Owners. The Agent s and The Owners have the right to: Use their absolute discretion in the selection of the preferred purchaser; Make an offer including terms in their absolute discretion Amend an offer following discussions with the preferred purchaser. Withdraw from discussions at any stage. Whilst every attempt has been made to provide accurate information to the invited parties, The Agents and Owners take no responsibility for any costs incurred by those parties making submissions arising from errors or omissions in the information provided. Furthermore, the party making a submission acknowledges that it does so entirely at its own cost in all events.
4 Egyptian Street, Vasse, WA 6280 PO Box 139 Vasse, WA 6280 Level 1, 604 Hay Street, Perth (Cnr Barrack St) WA 6000 PO Box Z5633, St Georges Terrace Perth WA 6831 Tel: +61 (08) 9755 8234 Fax: +61 (08) 9755 8480 Email: info@hansonproperty.com.au Tel: +61 (08) 9426 1777 Fax: +61 (08) 9486 7677 Email: GreaterValue@lease-equity.com.au www.hansonproperty.com.au www.lease-equity.com.au 17