The former St Andrew’s Tavern in Mirrabooka has been listed for sale – potentially unlocking a major town centre land parcel in Perth’s northern suburbs.
CBRE has been appointed to market the 8-10 Chesterfield Road property, which comprises an 11,821sqm site
Prominently positioned in the Mirrabooka town centre, the property benefits from multiple street frontages and has a versatile Mixed Use zoning with potential for a nine storey development.
There is approval in place (incorporating the adjoining sites) for a three-staged project consisting of a tavern, retail complex and 308 residential units.
CBRE’s Ryan McGinnity, Michael Milne and Chloe Mason have been appointed to market the site.
Mr Milne said the site’s position in the heart of Mirrabooka’s town centre presented versatile development options.
“The opportunity to acquire future development potential in the centre of Mirrabooka is expected to attract strong buyer interest, particularly given the current master planning and development underway in the suburb,” Mr Milne said.
“The State Government has invested significantly in Mirrabooka, with its multimillion-dollar Metronet project expected to make it an attractive time to develop in the area.”
Mr McGinnity said the property’s substantial landholding presented a myriad of development options, including restoring it as a popular tavern.
“Given the existing buildings on site, there is the possibility to revive and restore it to its former glory as a tavern or bottle shop, capitalising on its attractive large format retail liquor potential and position amongst surrounding retail and commercial properties,” Mr McGinnity explained.
The property is being offered for sale via Offers Invited closing Thursday, 5 October 2017.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
