A billionaire mining heiress’s plans to develop a “live-work” residential and commercial development in a blue-ribbon Perth enclave have been approved. 

The Metro Inner-North Joint Development Assessment Panel approved the application for 126 Railway Street, Cottesloe, under which AMB Holdings staff would be able to live and work in a three-storey, mixed-use building.

AMB Holdings is Angela Bennett’s private company—Bennett is the daughter of mining magnate Peter Wright, who was Lang Hancock’s business partner.

Hancock, who passed away in 1992, was a WA iron ore magnate and is the father of Australia’s richest person, Gina Rinehart, who is reportedly worth about $40 billion.

Documents show the office component of the plan would accommodate up to 80 employees while a four-bedroom apartment would be used to house country-based staff who needed to stay in Perth for an extended period.

▲ AMB Holdings would move its headquarters to the Cottesloe offices.

The development is aiming to achieve the “world’s greenest standard by receiving The Living Building Challenge certification which would be Australia’s first”, according to the company.

“The residential component allows people to really live and immerse themselves in a building that has been designed to support the wellbeing of the planet, the community and the individual,” an AMB Holdings statement said.

“The philosophy of the Living Building Challenge and how it informs the design is not a common submission but really important to be able to work through so we spent time to ensure this was understood in relation to the plans we proposed.”

▲ A render of the $20-million AMB Holdings complex.

The Living Building Challenge operated by The International Living Future Institute is a certification tool similar to the 6 Star Green Star system, measuring how sustainable and efficient a project is, and on what level.

Living buildings such as 126 Railway Street aim to “give more than they take” by utilising space for residential use in the built environment.