TWO rare development opportunities adjacent to Crown Perth have hit the market and is expected to attract both national and international investors/developers.
JLL’s Nigel Freshwater, Nicholas Agapitos and Sean Flynn and Andrew Woodley-Page from Axia Corporate Property have been appointed to Lots 9 & 25 Victoria Park Drive in Burswood.
Located in the high profile Burswood Peninsula, only five kilometres east of the Perth CBD. Lot 9 is 6,441sqm and fronts Victoria Park Drive and Bow River Crescent whilst lot 25 is 5,013 sqm and has excellent access to Burswood train station. the combined 11,454 sqm across are two sites are situated adjacent to Burswood Train Station.
Freshwater said the dynamic and flexible list of preferred uses identified under The Burswood Peninsula Master Plan includes amongst other uses apartments, serviced apartments, hotel, retail, commercial, entertainment and tourism delivering the potential for unique mixed-use developments and infrastructure projects.
Lots 9 and 25 on Victoria Park Drive have an attractive plot ratio of up to 4:1 and are zoned to allow for development of residential apartments, hotel and serviced apartments. The properties provide for a project(s) of significant scale with an approved development height up to 24 stories (75 metres).
“The properties are within a world class precinct on the eastern banks of the Swan River which offers an opportunity to deliver two truly landmark mixed-use developments in one of Australia’s most iconic hospitality, tourism and entertainment destinations,” Freshwater said.
Woodley-Page added, “Burswood Peninsular is unique being equidistant from the Perth CBD and domestic and international airports, set on the banks of the Swan River with fantastic amenity at the Crown complex and Optus Stadium is set to benefit enormously as Perth grows in the medium term.”
Agapitos said the sites offer “unparalleled opportunity”, that can be developed to a total of 560 dwellings (subject to approvals).
“This unprecedented offering is not to be missed, with no directly comparable opportunity currently available in Western Australia.
The EOI campaign closes on 20 June.
Australian Property Journal