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Nicole Lockwood monogram
Executive Update

WABi Land Pursuit

Mapping the Perth · Peel field after one week in pursuit.
Date
8 May 2026
Prepared for
The WABi executive team
Prepared by
Lockwood Advisory · The Legacy Impact Studio
Nicole Lockwood · Personal Practice
01 / 19
WABi Land Pursuit · Executive Update
The Brief
01 · The Brief

What WABi is asking for

Consolidate operations into one site with an automated facility. Lease structure with an option to buy. Land between Perth and Peel: preference for the Western Trade Coast.

Square metres
15 to 20k
Single contiguous site
2-year option
Lease + option
to buy structure
Western Trade Coast
WTC
preferred corridor
Zoning negotiable
Open
willing to work approvals
Anchor parcels
02
identified · both Dalison Ave
Nicole Lockwood · Personal Practice
02 / 19
WABi Land Pursuit · Executive Update
The Field
02 · The Field

Four opportunity areas across the corridor

Geographic spread is the story. Latitude 32 / Western Trade Coast is the preferred corridor but stock is genuinely scarce. The other three corridors give us optionality if WTC doesn't unlock in time.

Neerabup · Meridian Park · north of Perth
Western Trade Coast · Wattleup · Henderson · Latitude 32
Forrestdale & Doobarda · south-east inland
Peel Business Park · Stakehill · further south
Perth Mandurah N NEERABUP WESTERN TRADE COAST FORRESTDALE · DOOBARDA PEEL BUSINESS PARK
Nicole Lockwood · Personal Practice
03 / 19
WABi Land Pursuit · Executive Update
Western Trade Coast
03 · Western Trade Coast

The preferred corridor and its constraints

Two parcels on Dalison Ave Wattleup meet WABi's brief. Both sit inside the corridor that the executive team has prioritised, but the path to either parcel runs through approval and ownership questions, not pure availability.

Dalison Ave sits in Development Area 5. Structure planning will be released shortly: timing not yet confirmed.

Latitude 32 stock is genuinely limited. Most of what was on the market a year ago has been taken up.

DevelopmentWA's next release is DA02, the Wattleup Precinct on the corner of Wattleup Road and Rockingham Road. Earthworks are underway. Lots from 4,000 sqm to 2 ha. First release won't be until mid-2027.

Given the limited WTC options, the next strongest pathways are Peel Business Park, Forrestdale, and Neerabup.

Nicole Lockwood · Personal Practice
04 / 19
WABi Land Pursuit · Executive Update
Lot 20 Dalison
04 · Lot 20 Dalison Ave, Wattleup

Lot 20 Dalison Ave

Wattleup · Western Trade Coast
On-Spec · pending DA5

A clean state-led pathway. DevelopmentWA will bring this parcel to market as part of the broader Wattleup Precinct release, sequenced behind the DA5 structure plan approval. The advantage is process clarity: the disadvantage is that timing sits with the regulator.

Perth Mandurah N NEERABUP WESTERN TRADE COAST FORRESTDALE · DOOBARDA PEEL BUSINESS PARK
Lot 20 sits inside DA5, awaiting structure plan release.
Nicole Lockwood · Personal Practice
05 / 19
WABi Land Pursuit · Executive Update
Lot 20 Dalison
04 · Lot 20 Dalison Ave, Wattleup

Lot 20 Dalison Ave

On-Spec · pending DA5
Owner
DevelopmentWA
Path
Will be developed and sold as part of the Wattleup Precinct release
Trigger
DA5 structure plan approval (timing not yet confirmed)
Pursuit Status
Pursuit status · Nicole to update post-call
Nicole Lockwood · Personal Practice
06 / 19
WABi Land Pursuit · Executive Update
Lots 37 & 38 Dalison
05 · Lots 37 & 38 Dalison Ave, Wattleup

Lots 37 & 38 Dalison Ave

Wattleup · Western Trade Coast
Type Match · multi-stakeholder

A real opportunity wrapped in a real complication. The estate is split across six siblings with mixed appetites to sell. Federal habitat designation around the bird trees makes approvals slow. Even with willing sellers, the block requires significant earthworks before it can take a building. The recent Lot 51 comp gives us a market anchor, circa $200/sqm, but the path here is patient relationship work, not a transactional pursuit.

Perth Mandurah N NEERABUP WESTERN TRADE COAST FORRESTDALE · DOOBARDA PEEL BUSINESS PARK
Same DA5 corridor as Lot 20, different ownership story.
Nicole Lockwood · Personal Practice
07 / 19
WABi Land Pursuit · Executive Update
Lots 37 & 38 Dalison
05 · Lots 37 & 38 Dalison Ave, Wattleup

Lots 37 & 38 Dalison Ave

Type Match · multi-stakeholder
Owner
Deceased estate · 6 siblings (split appetite)
Constraint
Federal habitat · bird trees on site
Site
Block height needs to drop 8 to 12 m before development
Trigger
Structure plan completion (unknown timeframe)
Comparable
Lot 51 · 2.74 ha general industrial sold ~$200/sqm on 7 Feb 26
Pursuit Status
Pursuit status · Nicole to update post-call with siblings
Nicole Lockwood · Personal Practice
08 / 19
WABi Land Pursuit · Executive Update
Neerabup
06 · Neerabup · Meridian Park

Meridian Park

Neerabup · north of Perth
Potential Path · 2026 release

The strongest near-term institutional release outside the WTC. Meridian Park is the proven precinct: Built has just announced an automation facility here, which de-risks the location story for WABi's board. The lot sizes will need amalgamation to hit the brief, but the developer has signalled openness to that. North-of-Perth is a different geography from WABi's preferred corridor: that trade-off is the live conversation.

Perth Mandurah N NEERABUP WESTERN TRADE COAST FORRESTDALE · DOOBARDA PEEL BUSINESS PARK
Stage 12 release lands Q3 2026: the closest near-term institutional fit.
Nicole Lockwood · Personal Practice
09 / 19
WABi Land Pursuit · Executive Update
Neerabup
06 · Neerabup · Meridian Park

Meridian Park

Potential Path · 2026 release
Release
Stage 12 · corner of Mather Drive & Pederick Road
To market
Q3 2026 · titles expected Q3 2027
Lot range
2,241 sqm to 1.3543 ha · amalgamation possible
Reference
Recently announced Built automation facility · same precinct
Pursuit Status
Pursuit status · Nicole to update post DevelopmentWA call
Nicole Lockwood · Personal Practice
10 / 19
WABi Land Pursuit · Executive Update
Peel Business Park
07 · Peel Business Park · Lakes Road, Stakehill

Peel Business Park

Lakes Road, Stakehill · south of Perth
Potential Path · Sep / Oct release

The most actionable institutional release in the next quarter. Lots scaling up to 16,000 sqm sit just inside the lower bound of WABi's brief: the upper end of the lot range is functionally on-spec. Same DevelopmentWA cadence as Wattleup, which means the relationship work being done on Lot 20 carries forward here. Worth registering interest now for the September window.

Perth Mandurah N NEERABUP WESTERN TRADE COAST FORRESTDALE · DOOBARDA PEEL BUSINESS PARK
Lots release Sep / Oct 2026: register interest pre-allocation.
Nicole Lockwood · Personal Practice
11 / 19
WABi Land Pursuit · Executive Update
Peel Business Park
07 · Peel Business Park · Lakes Road, Stakehill

Peel Business Park

Potential Path · Sep / Oct release
Release
16 industrial / service commercial lots
Timing
September / October 2026 (this year)
Lot range
Just under 2,000 sqm to 16,000 sqm
Pathway
DevelopmentWA · same family as the Lot 20 conversation
Pursuit Status
Pursuit status · Nicole to update post DevelopmentWA call
Nicole Lockwood · Personal Practice
12 / 19
WABi Land Pursuit · Executive Update
Forrestdale & Doobarda
08 · Forrestdale & Doobarda

Forrestdale Business Park & Catalpa, Doobarda

Two adjacent precincts inland from the WTC.
Potential Path · multi-track

Two adjacent threads. Catalpa Industrial Estate in Doobarda is a recently established business park where PrixCar, Auto Care, and others have already established. The developer continues to release additional sites: there may be a fit there for WABi's automated facility.

The second thread runs through Forrestdale Business Park, where several major landowners are active in the precinct. Direct conversations with those owners are the off-market route into a parcel that may not be advertised.

Catalpa Industrial Estate aerial
Catalpa Industrial Estate · recent aerial.
Nicole Lockwood · Personal Practice
13 / 19
WABi Land Pursuit · Executive Update
Forrestdale & Doobarda
08 · Forrestdale & Doobarda

Forrestdale Business Park & Catalpa, Doobarda

Two adjacent precincts inland from the WTC.
Potential Path · multi-track
Lead 1
Catalpa Industrial Estate developer (active releases)
Lead 2
Forrestdale BP major landowners (off-market)
Tenants
PrixCar · Auto Care · others established
Pursuit Status
Nicole to update post Catalpa developer + Forrestdale landowner conversations.
Forrestdale Business Park and Catalpa map context
Forrestdale Business Park & Catalpa · map context.
Nicole Lockwood · Personal Practice
14 / 19
WABi Land Pursuit · Executive Update
Other Opportunities
09 · Other Opportunities

In motion · three additional conversations

These are open relationships rather than discrete listings. Worth keeping warm because they unlock parcels that are not visible to any agent network.

01

City of Rockingham

Local government · ongoing discussion about parcels and approvals across the broader Rockingham industrial footprint.

02

City of Kwinana

Local government · coordination across the Kwinana industrial precinct, including buffer-zone parcels not on the open market.

03

Poynton Stavrianou

Active broker relationship · covers off-market introductions across the south-metro corridor.

Pursuit Status
Nicole to update post each conversation.
Nicole Lockwood · Personal Practice
15 / 19
WABi Land Pursuit · Executive Update
Potential Leads to Pursue
10 · Potential Leads to Pursue

Three additional listings to pursue

Sit alongside the work already in motion. Each is a live listing with a named contact: additive to the leads above, not replacing them.

Lot 26 Wattleup Road, Wattleup

  • 2.0 ha (20,000 sqm) · exact spec match
  • Listed for lease · same Wattleup corridor as the Dalison parcels
  • Michael Danagher · Ray White Commercial WA · 0403 049 989

28 Thomas Road, Kwinana Beach

  • 21,999 sqm · single contiguous parcel
  • Listed for lease · institutional owner (Realside Ovest)
  • Savills WA · listing agent

Pinjarra Industrial Estate

  • Next-stage release in preparation · further south
  • Same DevelopmentWA family as the Peel Business Park conversation
  • Mike Rowe · Realmark Commercial · 0408 470 074
Nicole Lockwood · Personal Practice
16 / 19
WABi Land Pursuit · Executive Update
What WABi is Building
10 · What WABi is Building

The site this is all in service of

Every conversation in this presentation is in service of putting this on the ground. The shed below sits at the heart of the 15,000 sqm site, surrounded by the WABi box yard. This is what 15,000 sqm becomes.

WABi Shed preliminary sketch design
WABi Shed · preliminary sketch design (Apr 2026).
WABi Yard floor plan for the 15,000 sqm site
Floor plan · 150 m × 100 m site, 40 WABi boxes around the central shed.
Nicole Lockwood · Personal Practice
17 / 19
Nicole Lockwood monogram
WABi Land Pursuit · Executive Update
Where Next
11 · After one week in pursuit

Which corridor
does WABi want to land in?

02
anchor parcels identified inside the preferred corridor: Lot 20 and Lots 37 & 38 Dalison Ave. Both progressing on patient timelines.
03
parallel institutional tracks in motion: Neerabup (Q3 2026), Peel Business Park (Sep / Oct 2026), Forrestdale & Doobarda (active releases).
03
off-market relationships warm and worth maintaining: City of Rockingham, City of Kwinana, Poynton Stavrianou.
Nicole Lockwood · Personal Practice
18 / 19
Nicole Lockwood monogram
WABi Land Pursuit · Executive Update
Where Next
NICOLE LOCKWOOD
Innovation · Resilience · Planetary Catalyst
a broker of transitions...
Lockwood Advisory · Prepared by The Legacy Impact Studio
Nicole Lockwood · Personal Practice
19 / 19