Perth Property Baron Targets Irwin Barracks for Major Residential Development
Perth property baron Nigel Satterley has announced his intention to bid for the Irwin Barracks in Karrakatta, as the Federal Government puts the 61-hectare defence site up for sale. Mr Satterley, founder of Satterley Property Group, Australia's largest private residential developer, aims to transform the area into a quality residential precinct, with plans to build approximately 2000 dwellings.
Details of the Proposed Development
Mr Satterley envisions a mixed-use community featuring properties ranging from four to eight storeys, townhouses, and single-storey homes. He estimates that entry-level prices for properties on the redeveloped site would start around $1 million. Industry sources suggest the site could sell for more than $250 million, highlighting its prime location and development potential.
It is a very, very good site — very centrally located, Mr Satterley said. The site is ideal for a master-planned community, from single family homes through to mid-rise, multi-residential. It would be a product for all ages — from 20s up until the 80s.
Federal Government's Defence Asset Sale
The sale of Irwin Barracks is part of a broader defence asset audit initiated by the Federal Government, expected to generate up to $3 billion nationwide. Defence Minister Richard Marles stated that proceeds will fund new military equipment and base upgrades, particularly in northern Australia. Defence Personnel Minister Matt Keogh confirmed that personnel from Irwin Barracks will relocate to a revamped Palmer Barracks in South Guildford, approximately 21km away.
When we came into government, we commissioned the defence strategic review, Mr Keogh explained. Defence is the biggest holder of land in the Commonwealth, and the audit aimed to ensure we use that estate for the best outcomes for our Australian Defence Force and nation.
Historical Context and Future Plans
Irwin Barracks has served as a military training area since 1948, currently housing about 200 ADF force personnel, 50 Australian Public Service staff, 1150 ADF reserves, and 250 cadets. Expressions of interest are being sought for consultancy teams to assess geo-technical, environmental, planning, and historical issues before the sale.
Mr Keogh emphasized that the move will provide modern facilities for reserve forces, replacing decades-old infrastructure. They will move to fit-for-purpose new facilities that better support the modern capability of our Australian Defence Force, he said.
Satterley's Interest and Other Sites
While Mr Satterley expressed extreme keenness for Irwin Barracks, he showed less interest in the Leeuwin Barracks in East Fremantle, citing potential heritage issues. The official sale process is yet to commence, but Mr Satterley plans to go all out in his bid, aiming to create a landmark residential development in Perth.
