18-level development opportunity to unlock growth of booming Burswood
A premium Burswood landholding overlooking the Swan River is being offered to the market – paving the way for a landmark development in an area undergoing rapid growth and urbanisation.
14 Jun 2018
CBRE’s Ben Younger, Aaron Desange and Kate Foley, together with Alterga’s Lachlan Ottley, have been appointed steer the marketing campaign for the 53-63 Burswood Road property, which comprises a 11,249sqm landholding centrally located near the junction of Canning Highway, Great Eastern Highway, Shepperton Road and Albany Highway.
The property is currently home to an 8,028sqm campus style office complex, occupied by tenants including Laing O’Rourke, Liberty Executive Offices, Snap Printing, Acciona Geotech Holdings, Rent.com and NGIS Australia.
With potential to redevelop up to 18 levels, the property represents an attractive opportunity to capitalise on the ongoing transformation of Burswood.
“The Burswood peninsula precinct is positioned to become a vibrant and bustling residential precinct in the years ahead, boasting key attractions such as proximity to the CBD, transport links, the Swan River, Crown Perth and the thriving Victoria Park eating strip,” Mr Younger said.
“With an expected population growth of 430% by 2036, Burswood is one of Perth’s fastest growing residential hubs. This property has the potential to play a big part in the growth story of Burswood, providing accommodation and commercial business for the area’s expected 17,000 population.”
The site area allows for commercial development with substantial floor plates of more than 7,000sqm – suitable for a range of outcomes such as apartments, hotel, aged care, retail, office or childcare.
Current zoning guidelines present versatility to undertake a staged development – maximising use and the current income derived from the existing buildings.
Altegra’s Mr Ottley said the property’s position nearby key tourism attractions would underpin interest in the asset.
“This property is situated in the heart of one of Perth’s most visited precincts, surrounded by Crown Perth, KU DE TA and the new Perth Stadium – making it well positioned to take advantage of the growing profile of these attractions as well as the overall growth of Burswood,” Mr Ottley said.
“It is hard to imagine a more prominent and key development site currently available that offers as much of a potential impact insofar as a gateway statement to the Perth CBD is concerned. It is a sizeable parcel with excellent development scope positioned in a tranquil parkland setting with magnificent vistas across the Swan River to the city. Truly a unique and appealing offering that we are fortunate and very excited to be involved with.”
The property is being offered for sale via Expressions of Interest closing Thursday 19th July at 2pm AWST.
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 2017 revenue). The company has more than 80,000 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.
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.