Second Stage Floated for $400m Perth Precinct

The second stage of the largest building project in a northern Perth suburb since a landmark marina was built there ahead of the 1987 America’s Cup defence has this week been filed in WA.

Cottesloe-based Locus Property has lodged a development application for the 11-storey proposal comprising 87 apartments and 1500sq m of retail floorspace in the Hillarys-Sorrento area.

Stage 1 of the project, an 83-apartment scheme, was approved in 2024 for a site across Hepburn Road from where Stage 2 is proposed.

Locus director Damian Long said his firm bought the project’s two blocks in 2024 from the Roche family of Adelaide Development Company.

The latter developed most of the suburban blocks and its detached houses now line the streets of Hillarys and neighbouring Sorrento.

Long said the project was an opportunity to bring 30-year-old planning policies regulating scale and housing diversity at Hillarys and Sorrento into the 21st century.

“Even the current structure plan is hand-drawn,” he said.

“Most people who have expressed interest in buying apartments in Stage 1 are downsizers who want to stay in the area.

“It’s people moving out of their houses on these 800sq m blocks that they’ve been living in for 20 years.”

Stages 1 and 2 are planned for greenfields sites—Stage 1 on the southern side of Hepburn Avenue at Sorrento and Stage 2 on a 6385sq m block on the northern side at Hillarys.

Both are across the road from the landmark Hillarys Boat Harbour.

Stage 2 would include 20 one, 39 two and 28 three-bedroom apartments.

Long said the stages combined would cost $400 million to build, with Stage 2 likely to come in at $240 million.

He said Locus was talking to two “high-end, independent” grocery store operators regarding the ground-floor retail anchor tenancy.

“There’s quite a shortage of retail in the area,” he said.

“If you draw a 2km line around the sites there’s no retail, no supermarket, nothing.

“This project stands to give locals something they need; a convenient shopping centre that’s very close.”

Space has also been allocated for a cafe and specialty stores.

Long said construction on Stage 1 was slated to begin in the first half of this year and, approval by the WA Planning Commission pending, Stage 2 work should start in early 2027.

Public comment on Stage 2 of the project closes on February 8.