Landmark Como development site hits the market

A rare and transformative development opportunity in the heart of Como’s Preston Street Activity Centre has hit the market and is expected to attract interest from a range of investors and developers.

CBRE’s Derek Barlow and James Baker, Head of Commercial at Ken Baker Real Estate are managing the sale via an Expressions of Interest campaign.

The property comprises three contiguous lots, 10–16 Preston Street and 10 Mary Street, with a total of 8,758 sqm. The sites have more than 100 metres of street frontage to Preston Street, all benefiting from significant zoning advantages secured through a structure plan approval.

Mr Baker said, “This is one of the most exciting urban renewal opportunities in Perth. The scale, zoning, and location, combined with the cultural significance of the Como Theatre, makes this a truly unique opportunity for developers to create something iconic.”

The site includes the heritage-listed Como Theatre and holds approvals for a 13-storey residential tower, a four-storey carpark, and a mixed-use commercial and entertainment precinct, including medical and private hospital facilities.

This expansive site within the Preston Street Activity Centre precinct is earmarked for revitalisation under the City of South Perth’s Local Planning Scheme No. 7, featuring flexible R-ACO zoning and no plot ratio restrictions.

Mr Barlow, Director at CBRE, added, “The Preston Street precinct is already a thriving hub, and this site offers the chance to elevate it further with high-density residential, hospitality, and health-focused uses. With sweeping views of the Swan River and the CBD, it’s a standout opportunity in one of Australia’s strongest-performing markets.”

Expressions of Interest close Wednesday, 26 November at 3pm AWST.