A superblock in one of Perth’s most prestigious riverside suburbs, Applecross is on the market following an unprecedented consolidation of twelve land holdings.
The 1.74 hectare development site, just seven kilometres south of the Perth CBD, is being marketed exclusively by JLL’s Nigel Freshwater, Sean Flynn and Tom Nattrass.
Situated on the landmark corners of Canning Highway and Sleat Road, and with a further frontage to Kishorn Road, the elevated site is enviably positioned to overlook the Swan and Canning Rivers and represents one of the most significant masterplan development opportunities to come to the Perth market.
The State Government’s Canning Bridge Activity Centre Plan (CBACP) proposes that the Canning Bridge Precinct will comprise a mix of residential, civic, office, retail and entertainment uses against the backdrop of the Swan and Canning Rivers and the adjacent open space.
The vision of the consortium of landowners for the 1.74 hectare development site being offered is to create the physical and spiritual centre of the Canning Bridge Precinct, providing amenity and community benefits in a new city centre south of the river, termed ‘Applecross Central’.
JLL’s WA Head of Sales and Investments, Mr Freshwater said, “The ‘Applecross Central’ site provides significant development scale and tremendous, unprecedented scope for a fully integrated, high density mixed-use development precinct envisaged to become the thriving heart and form the centerpiece of the Canning Bridge Precinct.
“This is a very rare opportunity indeed and without doubt will attract significant local, national and offshore interest from developers and investors, seeking a truly unique and unrivalled project, capable of delivering a full suite of end-product across a multitude of sectors,” said Mr Freshwater.
According to Mr Flynn, “Applecross is one of the city’s most affluent and sought-after suburbs, boasting Perth’s fifth highest metro median house price of $1.63million (210% above the Perth metro median) behind only Peppermint Grove, Dalkeith, Cottesloe and City Beach.^
“The strength of the location is also illustrated by the fact that the local boutique office market has in the past been strongly supported, even in difficult periods in the cycle”.
“We expect to one day see a fully integrated mixed use project on this site delivering premium apartments and offices, a full shopping centre styled retail experience and a host of cafés, restaurants and bars. There’s little doubt that this will be followed by companion uses such as hotels, education, retirement living and entertainment, and all very conceivably on this one site,” said Mr Flynn.
To explore the potential and possible built form development outcomes for the site, the ownership group has engaged global design group Woods Bagot to develop a concept master planned community. The result of the international studio team’s work has been ‘Applecross Central’, a mixed use precinct with six distinct zones; specialty retail, premium residential accommodation, commercial office space, a 5-star hotel, retirement living and a school, all set amongst integrated public spaces.
Woods Bagot Senior Associate and lead designer Andrew Tang-Smith said the vision was about meeting the needs of the Canning Bridge Structure plan, as well as the needs of the current and future Canning Bridge community by providing a range of options to suit each unique lifestyle.
“From the tranquillity of the Gardens which creates a community gathering space, to the Landing with its activated laneways and terraces that provides an outdoor garden retail experience, the Masterplan also boasts a variety of residential and lifestyle options to suit people of all age groups including the Highlands, the Anchorage and the Hotel,” he said.
Woods Bagot Director – Global Development Officer, Mark Mitcheson-Low said “The vision was about creating the next generation of mixed-use developments for Perth”.
“The development will take Perth to new heights and is a project that could be recognised anywhere as a world-class advancement to the next century community”.
“The complementary and distinctively designed mixed-use precinct balances a mix of commercial, residential, retail and community services and amenities and brings convenience to the doorstep of the Applecross community,” Mr Mitcheson-Low said.
Mr Nattrass said, “JLL has been fortunate to have marketed and sold the majority of Perth’s largest iconic development sites over the years. With this history, we know we have something very special with Applecross Central. This exceptional location and the complexities associated with bringing together so many key landholdings to create a superblock with over 650 metres of street frontage means we’re unlikely to see this again for many years.”