City's Significant Civic Triangle Up For Sale
A major South Perth landholding with potential for large scale development has hit the market with Jones Lang LaSalle appointed by the City of South Perth to sell their Civic Triangle site through an international Expressions of Interest campaign.
The iconic site is one of Perth’s most significant development properties to be offered in recent years. The unique site is located at the gateway to South Perth and is adjacent to the Mends Street retail, café and restaurant precinct and only a short walk to the South Perth foreshore.
The property has three prominent street frontages - Mill Point Road, Mends Street and Labouchere Road and is only 2km from the Perth CBD.
The City of South Perth has progressively been acquiring the site, which is made up of 9 separate lots, since 1986 with the strategic objective and vision of consolidating the lots to facilitate a vibrant mixed-use development at the site.
The property benefits from a recent amendment to South Perth’s Town Planning Scheme which provides for a substantial increase in intensive development throughout the surrounding South Perth Station Precinct.
This will attract many more residents and visitors to the Mends Street precinct creating a vibrant hub comparable to other inner city areas such as Subiaco, East Perth and Mount Lawley.
The Civic Triangle has easy access to public transport, the freeway network, riverfront pedestrian and cycle paths as well as close proximity to the Mends Street jetty offering direct ferry access to the Perth CBD.
Jones Lang LaSalle Director of Sales and Investments, Tom Nattrass, said “the iconic site represented a tremendous opportunity for a developer to create a landmark building in a strategic location at the gateway to South Perth.”
“The site’s location and its favourable planning regime provide enormous potential for expansive river and city views. This will be a draw card for the end occupiers and buyers of the development.”
The prescribed building height limit is 41 metres with potential for this to be increased.
The site has numerous attributes providing outstanding opportunity for development. The flexibility of the zoning means that the property may be adapted to suit different uses, with a broad range of mixed use development, incorporating restaurants, cafés, shops, offices and residential.
The street level activation and high exposure provide strong support for ground floor hospitality, retail and commercial pursuits.
Mayor Sue Doherty, City of South Perth said,
“We are seeking a developer with high credentials, one that can design, fund and deliver a landmark iconic development to enhance the many characteristics of the popular and attractive Mends Street precinct."
Proceeds from the sale will be used by the he City of South Perth to fund other major capital works within our City for the benefit of our community, whilst also achieving the City’s long held strategic objectives for the Civic Triangle.” Mayor Sue Doherty said.
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