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News release


West Perth site offers landmark apartment development opportunity

Expressions of interest called for 7416sqm inner city development site

PERTH, 8 April 2013 – Developers seeking to capitalise on demand for inner city apartments are expected to head the enquiry list following today’s launch of a five-week expression of interest campaign for a large residential site on the West Perth-North Perth border.

The Jones Lang LaSalle managed campaign aims to find a new owner for the prominent 7416sqm Cowle Street site which currently comprises five privately-owned lots backing onto Dorrien Gardens.
“With a potential yield of up to 150 apartments and  9200sqm of plot ratio (STCA), this site presents one of the only high density  redevelopment offerings currently available in the area,” said Jones Lang LaSalle’s Director of Sales and Investments Phil Fogliani.
“Recent reports of accelerating demand for inner city apartments and the fact that it is just 1.5km from the CBD further underpins the site’s development  credentials,” said Mr Fogliani.
The Cowle Street site is zoned R80 within the Hyde Park Precinct of the City of Vincent and the lots currently incorporate 11 dwellings, three of which have Municipal heritage value. The site is being offered to the market as  two parcels, Parcel ‘A’ -   3400sqm and Parcel ‘B’ - 4016sqm, available individually or as one.
“Although we anticipate strong offers from developers looking to create a contiguous residential product, there is also the option for a small lot subdivision or townhouse build-out.”
Mr Fogliani said that the City of Vincent considered the landholding to be a significant strategic development site and had recommended site-specific design guidelines, while the existing multiple dwelling restrictions within the Hyde Park Precinct have been removed.
“These endorsements from the Council combined with the discretion and flexibility of state and local planning policies, would give an incoming owner the opportunity to create a substantial, high profile landmark development in a prime inner-city location with the added benefit of possible plot ratio/density bonuses,” he said.
“Additional to the benefits from the Perth City Link project, the site ticks all of the boxes when it comes to amenity and location with facilities like Beatty Park leisure centre, Hyde Park,  Leederville and Beaufort Street entertainment precincts, as well as City West, all less than 1.5km away.”
Mr Fogliani said that added to these was the proposed Metropolitan Area Express (MAX) light rail project, stage 1 of which would include the Robertson Park Station about 100m from Cowle Street.
Expressions of interest close at 3.00pm (WST) on May 16, 2013.​