Perth, Western Australia (Old Edition) Home Write a Letter Time Out Special Coverage Crime & Justice Classifieds Search Real Estate Trades & Services Submit About Contact Us Advertising Legal	$1m for a drive-in block? Blocks in a new Swanbourne subdivision are expected to sell for about $1 million at auction on September 9. Claremont council expects to make almost $16 million from the first auction of land, in the former Lakeway Drive-In site. Thirteen blocks, ranging from 430sq.m to 600sq.m, will be up for sale. Land in the 39-lot development should sell for an average of $2500 a square metre, said selling agent Graeme Kiddey, of Knight Frank. "It all depends on the location of the blocks," he said. "The four overlooking Lake Claremont are regarded as the cream of the crop." More than 500 people have registered their interest in the subdivision. The auction will be held on site at 11am. For more information phone Mr Kiddey on 9325 2533. Other auctions may be held this year and in March 2009. Mr Kiddey said a downturn in the property market would not affect the auction results. "It has taken the land speculators out of the market, but not the genuine homebuyers," he said. "Design guidelines require substantial commencement of a dwelling within two years, which basically means the slab has to be down." He said although there was now a choice of vacant land in the western suburbs, Lakeway was different from subdivisions in City Beach and Churchlands. -Julie Bailey Do you have something to say? Write to us and we may publish your letter next week. BACK TO TOP < PREVIOUS - HOME - NEXT> Copyright © 1996 - 2009 Post Newspapers Pty Ltd. All rights reserved.