Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.
Overview
This 776 square metre parcel of land at 213 Sevenoaks Street, Cannington, represents a strategic opportunity in Perth's burgeoning urban landscape. Positioned mere metres from the newly established Queens Park train station and within walking distance to the bustling Westfield Carousel shopping centre, this site is ideally located for growth and convenience.
Zoned R60/R160 under the City of Canning's local planning scheme, the property's zoning supports substantial development potential, making it attractive for investors or developers looking to capitalize on high-density urban growth corridors. Currently tenanted, generating a consistent rental income, this offers an immediate revenue stream while preserving the flexibility to hold or develop according to preferred timelines.
Furthermore, the option to acquire the neighbouring 761 square metre lot at 215 Sevenoaks Street transforms the investment proposition dramatically. Combined, the two lots offer a fully approved development plan for a six-storey mixed-use complex comprising 36 residential apartments, three ground-floor commercial tenancies, and extensive parking facilities including modern car stacker technology and a landscaped rooftop terrace. With over $300,000 invested in planning and consultants, this approval reduces the preparatory workload for the buyer, accelerating time to market.
The location benefits from solid fundamentals: a recent 29% increase in house prices over the past year, unit yields around 5.9%, constrained apartment supply, and excellent transport infrastructure. Proximity to amenities such as Leisureplex and the Cannington Library further enhances the site's appeal.
- Generous 776m² lot with street frontage and rear access
- Flexible zoning supports high-density residential and mixed-use development
- Stable rental income from sitting tenant paying $550 weekly
- Access to a large adjoining parcel with full development approval
- Excellent local amenities and transport links, just 11 km from Perth CBD
This offering caters particularly well to savvy investors and developers seeking a ready-to-go project with diversified income possibilities and significant growth potential in a rapidly evolving precinct.
Local Market Insights
In Cannington, Quiet Listings observed 4 new parcels of land entering the market over the last 30 days, down from 12 during the previous 30-day period, with an average advertised asking price of $1,468,500. The property type mix of listed properties is predominantly Houses at 66%, followed by apartments (8%), and units (7%). The most active agency for land in the Cannington area is currently Deximal Property Services, representing 25% of new listings, followed by Canford Estate Agents with 25%. 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.
Change History
| Headline | When |
|---|---|
| Offers From $875,000 | |
| EXPRESSIONS OF INTEREST |
Location
Cannington WA 6107
Market Insights for Cannington WA 6107
Other properties in this postcode
