Infrastructure developments sail into Fremantle
A number of projects at Western Australia's Fremantle Ports may be well received by those with investment properties in the area.
The state and federal governments jointly funded two projects, with comments recently made about the boost to efficiency and capacity. Meanwhile, Fremantle Ports funded the Rous Head project.
For those looking to invest in the area, taking a look at home loan options could be a wise move.
Multi-million dollar projects for Fremantle
Fremantle Ports' Rous Head redevelopment has boosted road and services infrastructure.
At a cost of $27.2 million, development on reclaimed land has recently been completed, according to an official statement.
Now, the private sector is in the process of developing industrial leases. This could help spur further economic growth in the area, potentially creating jobs and increasing investor interest in the Western Australia area of Fremantle and beyond.
Fremantle Ports is the biggest general cargo port in the state, with $28 billion of trade processed in the 2013-14 year alone.
Rail upgrades in the west
There were also two recent rail projects, receiving government funding at a cost of $38.4 million. The North Quay Rail Terminal servicing was extended, marking a boost for the container trade sector.
"Making rail more efficient increases its competitiveness," explained Transport Minister Dean Nalder on November 10.
"Extension of the North Quay Rail Terminal from 400 to 690 metres reduces turnaround time for trains and achieves better interface with the container terminals."
Furthermore, the addition of a crossing loop at Spearwood allows freight trains to pass on the Kewdale/Forrestfield and Fremantle Ports rail line connection.
Spearwood is located south of Fremantle and may be an area for investors to watch.
"The crossing loop constructed at Spearwood, south of Fremantle, also increases efficiency and capacity by accommodating more freight train movements during the day and minimising service delays," Mr Nalder noted.
It's not just investors that may contemplate buying property in Western Australia - families and couples may consider applying for a construction home loan in order to build in the area.
Image credit: b r e n t