Rockingham Beach development site with heritage hotel on the market for about $20 million

Market sources are valuing the real estate between $18 million and $20 million.

The Rockingham Hotel has been modified and extended throughout the years, but it retains its corrugated-iron roof. Photo: Google Maps

Part of the site is the heritage-listed Rockingham Hotel. The pub, originally named the Port Hotel, was built in about 1886, making it almost as old as Rockingham itself, which was established 1847.

As it was outside of the 30-mile ring from Perth, it was exempt from the stricter liquor licensing rules in the 1920s and enjoyed more liberal trading than its inner-city rivals.

The hotel is one of the few remnants of early development in Rockingham, particularly in the tourism industry. It has undergone upgrades and an extension over the years, with the most recent renovation completed in 2016.

The Rockingham Hotel was built in about 1886, making it one of the oldest buildings in Rockingham. Photo: Supplied

Other properties on the block include a liquor store, service station and nightclub.

The wider precinct has been targeted in the Rockingham Beach Foreshore Revitalisation project by the council, which says it will invest $15.7 million in the area by 2020. The project aims to transform Rockingham into one of the top waterfront destinations in Western Australia, with plans for a new marina, beach pavilion, plaza and boardwalk along the beach.

The site is zoned for use as a primary centre waterfront village, which allows mixed-use development, including medium or high-density residential, tourist accommodation and retail, of up to 10 storeys.

Owner Mirco Bros Pty Ltd, a Western Australia-based agricultural business run by the Mirco family, has held the property for more than 18 years.

CBRE agent Michael Milne, who is selling the property with Ryan McGinnity, said Rockingham should be developers’ first choice for high-density residential and mixed-use developments in Perth thanks to the local council, which has made it a priority to renew the area.

“City of Rockingham has singled out this property as the landmark location for what could become the area’s biggest tourism development and is prepared to work with developers in relation to height limits and density to fulfil the potential of this site,” Mr Milne said.

“This is an extremely positive boost of confidence from council that will help to enhance the Rockingham Foreshore with upscale, modern and imaginative development outcomes.”