Giant mixed-used site in Applecross the ''most significant'' ever put up for sale in Perth: JLL
A rare 1.7-hectare consolidation of 12 landholdings has hit the market in Applecross, which the agents say is ”most significant mixed-use development opportunity ever” in Perth.
The mixed-use development site, named Applecross Central, is located at 888 Canning Highway and is within the commercial core of the Canning Bridge precinct.
Tom Nattrass, JLL sales and investments WA director, said a site of such scale and density, located in such a sought-after riverside location, was a rare find in Perth.
“Applecross is a very affluent and prestigious riverside location that is currently undergoing significant development in its commercial precinct, which will see a number of new residential apartment developments,” he said.
The concept plan for the site, which is seven kilometres from Perth’s CBD.
“However, Applecross Central is the only offering that provides the opportunity to develop a truly mixed-use project with potential for the full gamut of uses including aged care, hotel, office, medical, retail, food and beverage and premium residential apartments.”
Leading architectural firm Woods Bagot has designed an integrated mixed-use development vision for the site, which includes a landmark skyline.
The concept features a total gross floor area of more than 160,000 square metres across several towers.
The landmark island site – which is currently home to existing buildings which include office, retail, commercial and fast food retailers – will have three street frontages and is located seven kilometres south of the Perth CBD.
The map of the 1.75-hectare site. Image: Supplied
Mr Nattrass said the development site has garnered strong interest, with more than 75 inquires received in the first 10 days of the sales campaign.
“These comprise a very diverse group with interest from large Perth developers, national property groups and offshore parties from Hong Kong, Singapore, the U.S and mainland China,” he said.
The site is being advertised for sale via an Expressions of Interest campaign, with offers closing on May 17.
“Given the massive scale of the Applecross Central offering there are no comparable sales in Applecross or other suburban Perth locations and so it is appropriate that interested parties look to sites of similar density in the Perth CBD when forming their view on pricing,” Mr Nattrass said.
