The mixed-use development opportunity on one of the most-elevated points of the Stirling Highway in Nedlands has been listed for sale.
The lot consists of three individual residential titles, 68, 70 and 72 on the Stirling Highway, a location that could lead to 360-degree views encompassing both the Perth CBD and Indian Ocean.
A 2,846sqm land parcel includes extensive highway frontage, and is zoned as R-AC1 under the new Local Planning Scheme No.3, with a 3-1 plot ratio.
CBRE’s Jake Wallman and Ben Younger will manage the campaign, with offers invited by December 12.
Within the evolving Nedlands, the site is adjacent the proposed Woolworths Nedlands Square and a short walk from the to-be-redeveloped Captain Stirling Shopping Centre.
It is also approximately 1.3km from the University of Western Australia, 2.3km from the Claremont Quarter, 5.4km from Cottelsloe Beach and 6km from the Perth CBD.
Gazetted in April this year by the State Government, Local Planning Scheme No. 3 changes the zoning, land-use permissions, density codes and development standards for Nedlands.
It aims to balance the character of the suburb with the need to accommodate a growing Perth population.
Well-designed higher-density dwellings are permitted around transport corridors and activity centres including the Stirling Highway, Queen Elizabeth II Medical Centre and University of Western Australia.
“We expect this opportunity to generate significant interest from developer groups looking very closely at Nedlands,” Mr Wallman said.
“The new planning scheme is set to allow for far greater density housing, and Nedlands is undergoing exciting change.
“This mixed-zone site is one of the more-attractive opportunities along the Stirling Highway strip; nearby commercial developments including Aldi and the proposed Woolworths will provide superb amenities.
“It is also one of the highest points along Stirling Highway, offering enormous potential for 360-degree views that could take in the Indian Ocean, Swan River and Perth CBD.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
