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News release


Urban infill residential site primed for developer

Flexible zoning, planning controls and high exposure in the urban heart of Fremantle

PERTH, 30 June 2014 – One of the most substantial development sites in Fremantle’s tightly held Knutsford Precinct, thirty minutes south of the Perth CBD, has been brought to market exclusively by JLL. The property features exceptional zoning and planning flexibility, affording tremendous residential development potential in the high-demand suburb.

The site consists of three Lots at 43, 45 and 47 Wood Street. The Lots form a rectangular parcel of 5,858sqm (total site area) located within the Knutsford Revitalisation Project area –  a LandCorp-led urban infill project that will see underutilised industrial land, only minutes from the Fremantle Town Centre, developed into a high-quality, diverse, residential and mixed-use precinct.

According to JLL’s Head of Sales & Investments – WA, Nigel Freshwater, the sites are available for purchase separately or together, and represent a rare opportunity for a purchaser to capitalise on high demand for residences in the eclectic port city.

“The sites derive considerable benefit from positioning within the project area. Most notably, they fall under the new planning guidelines prescribed to the Knutsford Street East Precinct that accommodates a wide selection of development options,” said Mr Freshwater.

JLL’s Director Sales & Investments – WA Phillip Fogliani said the new planning controls defined in the approved Detailed Area Plan (DAP) allow for density bonuses in excess of R60 and up to R100 where mixed-use development can be delivered. 

Planning controls specify potential for a maximum plot ratio of up to 1.25:1, subject to satisfying bonus density provisions – four storey (17m) building height for residential, and minimum two storey for mixed-use development, with minimal building setbacks.

“The planning controls and design criteria are geared toward construction of high-density residential apartments or a terraced, townhouse-style development.

“The overall flexibility of controls surrounding this offering are indicative of the City of Fremantle’s commitment to high-quality development outcomes across the city, and their preference for medium to high-density development when the location can accommodate it,” said Mr Fogliani.

Marketed as ‘The Other Side of Fremantle’, the significant LandCorp investment in the Knutsford precinct is expected to incorporate a variety of building heights, including single residential dwellings, multi-level apartments and townhouses in combination with ground floor commercial and retail. 

The revitalisation area will create a new urban heartland in the port city, delivering the best of inner city and urban neighbourhood amenity, all the while retaining the eclectic, harbour-side character synonymous with Fremantle.

The subject sites are improved with two office/workshop buildings that are currently tenanted and provide short term holding income estimated at $60,800 per annum.

“The latest REIWA data confirms Fremantle as one of the state’s most desirable places to live and work, reporting a 16.3 per cent increase in the median sale price of units from May 2013 to April 2014.

“Urban infill sites of this size, with flexible zoning and planning, in Fremantle are exceptional. We expect this to be reflected in the market’s response to this offering,” concluded Mr Freshwater.

For sale by Offers Invited, either together or separately, closing 4.00pm (WST) Thursday, 7 August 2014.