Just 2.5km from Perth Domestic Airport and 9km from Perth CBD at 292 Great Eastern Highway, Belmont, is a 1,573sqm land development opportunity in a strategic location.
Liam Tierney of Ray White Commercial Burswood, who is marketing the redevelopment site, said: “Recently we have seen a variety of successful infill developments along the Great Eastern Highway.
“This strategic land development opportunity is situated next to McDonalds, Ascot, the Tonkin Highway and a short drive to Perth Domestic Airport.
“The land has a zoning of ‘Mixed Use’ and permitted land uses include offices, showrooms, eating establishments and residential apartment blocks. In keeping with recent developments in the surrounding area it is expected that the developed buildings will maintain the trend of a high standard of architectural design.
“Previously a car rental site, 292 Great Eastern Highway has two knock-down buildings on site; a metal fabricated utility shed and a small brick constructed office building. Whilst these improvements may offer some limited holding income to potential investors, the property is being sold as a redevelopment site due to its size, strategic location and zoning.”
Perth now stretches 120km along the coast and is experiencing the fastest growth of any Australian city. However, this results in several urban challenges including traffic congestion, lack of housing choice and affordability and loss of natural habitat.
In a recent Transforming Perth study by the Property Council of Australia, the office of Senator Scott Ludlam and the Australian Urban Design Research Centre looked at regenerating transport corridors as a network of high street precincts. The Great Eastern Highway was one of the seven corridors chosen for this study due to its strategic importance in the Perth Metropolitan area.
Under the WA government’s strategic plan for Perth; “Directions 2031 and Beyond” the government is targeting a 50 percent improvement of current infill trends, which equates to 124,000 new dwellings to be delivered through infill development. Belmont could meet the entire targets set out by the Western Australian Planning Commission at medium-high density infill. The study quantifies the potential dwelling yields along Great Eastern Highway. Starting from Victoria Park to Redcliffe there is 87 hectares of developable land supply.
High quality infill development on the Great Eastern Highway is redefining the streetscape of the City of Belmont. The regeneration is bringing new services and amenities closer to existing residents and delivering jobs to local areas. The recent upgrade to six lanes of the Great Eastern Highway was the most expensive road upgrade per kilometre ever undertaken in Western Australia which dramatically improved this strategic transport route.