SQM: Property agents spruik a site’s proximity to ECU’s city campus to attract investors and developers

If you had a dollar for every time an agent talked up a property’s proximity to the new city ECU campus, you would be at least one buck richer today. Maybe more. A Beaufort Street property with an expansive 30.28m frontage has been described as being in walking distance of the ECU campus, as well as the Northbridge entertainment precinct, public transport connections, and a wide range of shops, offices, bars and restaurants. With flexible zoning, no prescribed height limit and a plot ratio of up to 4:1, the development site could become home to a landmark development, student accommodation or a build-to-rent project. Colliers’ Shane Isaacs and Knight Frank’s Jonathan Wong have talked up the arrival of ECU’s city campus this year, which they said was expected to bring more than 9000 students and staff into the CBD. Mr Wong said the opening of the ECU Perth City Campus had strengthened the appeal of the Beaufort Street precinct in Perth. “The proximity to the ECU Perth City Campus has helped reshape demand in this location,” Mr Wong said. “We are seeing strong interest from local and offshore groups seeking opportunities for residential, student accommodation and mixed-use development, reflecting growing confidence in Perth’s city fringe market and the long-term strength of this precinct.” Mr Isaacs said the property was an “increasingly rare opportunity” to buy a major development site on the edge of the CBD. “Large landholdings of this scale, so close to the Perth CBD, are becoming exceptionally difficult to secure,” Mr Isaacs said. “With its substantial site area, prominent Beaufort Street frontage and flexible planning controls, the property offers genuine long-term upside for developers looking to capitalise on the continued evolution of Perth’s inner-city market.” The property is offered for sale by expression of interest, closing May 20. . Holiday Inn in West Perth has gone out for sale, seeking to take advantage of Perth’s strengthening hotel market. The 101-unit hotel complex, set in the heart of West Perth, is one of only a few hotels to hit the market in recent years. JLL has already closed the expressions-of-interest campaign and is spruiking Perth’s hotel credentials in the sales campaign. Perth hotel market’s RevPAR — which is the metric used in the hotel industry to consider the revenue per available room, considering both occupancy levels and average daily rates — grew by 13.5 per cent last year. It was the strongest improvement of any capital city. The last hotel to sell in Perth was Fraser’s Suites, in the city, which sold to the State Government for $105 million. . Three local landowners have teamed up to buy one of the largest rural holdings in the Great Southern, reportedly paying a combined record of $52.5m. The 11,262ha West Fitzgerald and West River aggregation is located between Albany and Esperance. Elders agent Simon Thomas was unable to disclose the names of the local purchasers but said strong competition from neighbouring landholders helped drive the final price well above expectations, setting a new benchmark for the region and describing it as an excellent sales result for the local area. The sale was from the estate of MP Slade, a long-time private landowner who built up a large-scale, multi-property agricultural aggregation spanning six adjoining farms. The West River and West Fitzgerald aggregation stood out because all the holdings were connected, with the full 11,262ha only split by a single road. The aggregation is also considered valuable for its strategic land placement with its southern boundary fronting the South Coast Highway, offering convenient transport links to regional service centres, processing facilities, export terminals and local CBH receival sites. The holdings were operated as a commercial merino sheep enterprise, carrying about 10,000 head, with significant broadacre cropping (barley and canola) alongside the livestock. It includes three homes, multiple sheds, shearing facilities, sheep yards and several silos.