EXPRESSIONS of interest are being sought for a large redevelopment site under the instructions of the agent of the mortgagee in Perth’s East Cannington at 230 Railway Parade.
The asset comes with a 6,351sq m* site area and 2,365sq m* improvements. The property is being marketed and sold by Ray White Commercial (WA) Property Advisor Brett Wilkins, Director Chris Matthews and Sales and Leasing Agent Nigel Tennant.
Mr Tennant said the lessee was in possession of the property on the terms of the lease (which expired in 2022) but the lease was not binding on the seller.
“The successful purchaser can undertake commercial and residential uses from the site, with a minimum plot ratio of 1:1, and a minimum of six storeys up to a maximum of nine storeys subject to council approval,” Mr Wilkins said.
“The site is a growth corridor of the south-eastern precinct with the City of Canning and Western Australian Planning Commission in October 2017 approving the Activity Centre Structure Plan.
“There are future growth plans for high rise mixed-use development on the subject site and surrounding lots.”
Mr Matthews said the location of the property and its accessibility would be drawcards for potential buyers.
“The site is opposite Cannington Train Station and a car park, so it’s conducive to ground floor commercial development with steady patronage daily,” Mr Matthews said.
“The current owner runs Perth Training Centre which is a registered training organisation specializing in training for WorkSafe High Risk licenses for the mining, oil and gas, building and construction industries.
“It also provides nationally recognised courses for the transport, logistics and warehousing industry.”
“The property is offered for sale untenanted with vacant possession and a buyer will need to negotiate their own arrangements with the lessee, if desired,” Mr Tennant said.
“The site benefits from the recent $350 million refurbishment of Carousel Shopping Centre, the increased residential density planned for the area, as well as the future premier retail/commercial hub for the south-eastern corridor.”