Perth

Cannington development opportunity listed for sale

A mixed-use landholding on what is set to become the main street of the rapidly developing City of Canning is being offered for sale.

28 Nov 2019

A mixed-use landholding on what is set to become the main street of the rapidly developing City of Canning is being offered for sale. 

Delaney Vista, Cannington, consists of two lots on a 4,449sqm land parcel opposite Cannington train station in Perth’s south-east. 

The lots, 1 and 5 Delaney Vista, are 2,374 sqm and 2,075sqm respectively and occupy the corner of Cecil Avenue and Lake Street. 

They are available for purchase individually or as a single site, offering significant scope for high-density, mixed-use developments. 

As part of the City of Canning's major $70 million regeneration program, Cecil Avenue will become Cannington's new main street, with 1 Delaney Vista offering an extensive high-street frontage.

The Canning City Centre Structure Plan permits six-to-14-storey buildings and offers a variety of uses including residential, aged care, hotel, commercial, office and retail.

The lots are within the Activity Centre which is also home to bars, restaurants, schools, a Hoyts cinema complex, the Cannington Leisureplex and other recreational facilities.

They are also near Albany Highway, the expanded Westfield Carousel and Cannington train station which connects to the Perth CBD, Crown Entertainment Precinct and Optus Stadium in only 15 minutes.

CBRE’s Ben Younger and Tory Packer from Colliers International have been appointed to market the property for sale, with Expressions of Interest set to close on December 12. 

“Cannington is a metropolitan centre poised for development, benefiting from its proximity to the Perth CBD, Airport and Curtin University,” Mr Younger said.

“The precinct is set for tremendous growth and these two adjoining sites are perfectly positioned between the Cannington train station and the expansive Westfield Carousel shopping centre.”

Ms Packer, who sold four city centre sites in Cannington in the past year, said there was strong demand from local, national and offshore buyers seeking land holdings in one of Perth’s major commercial centres.

“The city centre’s rezoning allows for mixed-use, high-rise buildings, which have strong appeal to developers wanting to purchase large-scale sites with a range of development options,” Ms Packer noted.

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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.

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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.