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Overview
This prominent property offers a rare opportunity on the fringe of Perth's CBD, embodying significant potential for investors and developers looking to capitalize on the vibrant city centre precinct. The sizable rectangular land parcel spans 769 square metres and includes a solid, well-constructed brick workshop complemented by a two-level office facade, providing approximately 740 square metres of lettable space.
Currently tenanted by a longstanding occupant, the site ensures immediate holding income through a leaseback arrangement while development approvals are pursued. The zoning under City of Perth Planning Scheme No. 2 as City Centre ‘Precinct 3’ allows for a substantial plot ratio of 4.0:1, with further development incentives increasing potential density to 6.0:1. Notably, there is no prescribed building height limit, allowing exceptional architectural scope.
Accessibility is a key benefit, featuring a right of way adjoining the northern boundary, facilitating practical ingress and egress. The site's location provides seamless access to the key commercial, educational, and entertainment hubs that define Northbridge and the broader Perth CBD, being just under a kilometre from the Perth GPO and within walking distance of major train stations, TAFE, and multiple freeway access points.
- Zoned for City Centre mixed-use development with generous plot ratios conducive to high-density projects.
- Existing improvements include functional workshop and office facilities, offering immediate utility and income potential.
- Ideal for a broad spectrum of redevelopment ventures such as offices, retail, student accommodation, or mixed-use properties.
- Prime location on Stirling Street, adjacent to vibrant Northbridge precinct with ample amenities, entertainment, and dining options.
Given its scale, zoning flexibility, and central location, this property suits developers targeting multifaceted urban projects, investors seeking stable income during development phases, and those looking to engage in Perth’s dynamic city fringe market.
Local Market Insights
In Perth, Quiet Listings observed 2 new parcels of land entering the market over the last 30 days, up from 1 during the previous 30-day period, with an average advertised asking price of $1,150,000. The property type mix of listed properties is predominantly Apartments at 71%, followed by units (8%), and commercial properties (7%). The only agency with for land listings currently monitored in the Perth area is Heritage Realty. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Perth WA 6000
Market Insights for Perth WA 6000
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