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GENERAL PROPERTY RESIDENTIAL PROPERTY

Developer selling 1,540 apartments project

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VETERAN Western Australian developer Ian Johnson has listed more than 4.5 hectares of land next to Beckenham train station, including a former Boral brickworks site, in Perth’s largest privately-offered transit-orientated development site offering.

Across three separate lots, 68-90 Bickley Rd and 397 Sevenoaks St has received approval from the Western Australian Planning Commission and the City of Gosnells for 1,540 apartments, 9,250 sqm of retail and 1,500 sqm of office space.

The concept approval allows for a range of building heights from two to 17 storeys.

LJ Hooker Commercial Perth’s Vincent Siciliano, Richard Parry and Brian Neo have been appointed to manage the offers to purchase campaign, after Johnson had declared the property up for grabs in April with an asking price of $40 million.

“This is the largest transit orientated development offered in Perth through a private vendor,” Siciliano said. “Sites of this scale and proximity to transport infrastructure have previously been divested by (state-owned land agencies) LandCorp or Metropolitan Redevelopment Authority.”

Earlier this year, Primewest and Iris Residential (formerly TRG Properties) received approval for a $140 million project with 150 apartments and 14 specialty tenants at LandCorp’s Montario Quarter in Shenton Park.

Siciliano said interest was expected from local, intersate and offshore parties. The site is next door to a WAPC-owned site that takes up the corner of Sevenoaks St and William St.

The agents said approved density on the site supports the state Government’s Metronet program, which supports upside around the city’s key rail infrastructure. Along with 72 kilometres of new passenger rail and as many as 18 new train stations, Metronet could bring about the overhaul of 5,000 hectares of land. The MRA is poised to take planning control of the Midland, Bayswater and Forrestfield station precincts, which could open the door for more development with the delivery of the Metronet project.

Siciliano said that beyond scale, the Beckenham site presented an opportunity to address much-needed affordable dwellings with amenity.

“Being only 12 kilometres from the city’s centre and a short ride by train, the site can bring an affordable lifestyle option amongst shopping, cafes, bars, gymnasiums and other retail amenities as well as office space. The development industry has seldom seen these opportunities come to market since the GFC.”

The site is one kilometre away from Westfield Carousel, which recently underwent a $350 million upgrade.

Johnson purchased the Boral brickworks site seven years ago. In Melbourne, Mirvac has just struck an agreement with Boral to develop a $1 billion community across a 171-hectare clay quarry and brickworks site in Melbourne’s eastern suburbs. This marks the second deal of its type between the developer and building products manufacturer, following on from last year’s agreement for Mirvac to develop a 278-hectare Donnybrook property on Melbourne’s northern fringe that Boral had purchased as a potential hard rock quarry.

Also last year, ISPT purchased a 13-hectare development site in Sydney’s western suburb of Greystanes from for about $60 million from Boral, ånd is expected to make way for an industrial or logistics project.

Further out in Perth’s south-eastern suburbs, Colliers is marketing a five-hectare land Hilbert parcel with approval for a residential subdivision of 92 blocks. The 315 Forrest Road site is in the Wungong Urban Water Redevelopment Scheme area, which is overseen by the MRA and is planned to be home to a new community for up to 45,000 people.