Prime Riverside “Superblock” Hits the Market

A 1.74-hectare “superblock” consolidating 12 land holdings has been released to market in Perth’s riverside Canning Bridge Precinct.

The site, with more than 650 metres of street frontage and located seven kilometres south of Perth’s CBD, is pegged to be the new city centre south of the river, referred to as “Applecross Central”.

The high density mixed-use development precinct will comprise a mix of residential accommodation, commercial office space, retail, retirement living and entertainment uses, in line with the State Government’s Canning Bridge Activity Centre Plan.

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The controversial activity centre plan has seen Perth-based developer Finbar’s 30-storey Sabina tower project approved. Sabina is the first of three towers at Finbar’s $350 million Canning Bridge development. Other towers include the 17-storey Raffles waterfront apartments completed in 2006.

The development site will be marketed by JLL’s Nigel Freshwater, Sean Flynn and Tom Nattrass.

“Applecross is one of the state’s most affluent and sought-after suburbs, boasting Perth’s fifth highest metro median house price of $1.63million,” Flynn said.

The ownership group has engaged design group Woods Bagot to develop the concept master planned community. The present zone M15 is for mixed-use zoning of up to 15 storeys.

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Applecross Central is being offered for sale via expressions of interest, closing Thursday 17 May 2018.

The end development value of the site is reportedly more than $1 billion.

Renders courtesy of Woods Bagot