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Singaporean developer buys Cannington site close to Westfield Carousel for $3.35 million

Sale through Colliers International to expand Cannington’s apartment market

Cannington’s city centre apartment market is set to expand following the sale of a vacant site to an overseas buyer who will be seeking planning approval for a nine-storey mixed-use apartment building.

The development site at 14-16 Leila Street was purchased for $3.35 million, representing a land rate of just over $1,340 per square metre by a Singaporean developer in an off-market transaction negotiated by Colliers International’s Tory Packer.

The 2,497sqm property is just 100m from Westfield Carousel, one of Perth’s biggest shopping centres and a key component in the $76 million regeneration of the new Cannington city centre along Cecil Avenue.

Ms Packer said the revitalisation plans, which would deliver high-density residential accommodation next to Westfield Carousel and a Transit Orientated Development next to Cannington train station, had generated strong demand for infill sites from developers wanting to build apartment and commercial buildings in and around the city centre.

“Work has already started on Cecil Avenue which will be upgraded and landscaped to become a pedestrian-friendly thoroughfare between Albany Highway and the train station,” she said.

“When finished, Cannington’s city centre is expected to have 10,000 new homes for 25,000 new residents.”

Ms Packer said the $350 million redevelopment of Westfield Carousel, which was completed last year, had significantly increased the level of amenity in Cannington.

“The shopping centre now has 330 retailers across fashion, food, lifestyle, dining and entertainment which will help service the city’s growing population.”

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Tory Packer

Director

Investment Services

Perth

Tory has been in the commercial property business with Colliers International (WA) for over 11 years. 
Throughout this time, she has assisted in the sale and acquisition of over $200million worth of property for high profile clients, investment syndicates, corporations and government departments.


Tory has established herself as an experienced investment services expert in the Perth market, focusing on combining buyer engagement success and effective sales strategies to achieve optimal outcomes for her clients.
Her success is based on her market leading knowledge, comprehensive understanding of investment disposals and market reach throughout local, national and offshore markets.


In order to cultivate her track record, Tory spends time with buyers and sellers located interstate and offshore to present opportunities and establish relationships across the widest possible market. 
Tory is results driven and has established long-term partnerships with her clients, frequently exceeding her client’s expectations.

A sample of recent transactions completed by Tory include:
•105 Lord Street, Perth $21,000,000
•179 St Georges Terrace, Perth $18,250,000
•1101 Hay Street, West Perth $16,575,000
•Lots 37 & 38 Montario Quarter, Shenton Park $16,300,000
•100 Chisholm Cres, Kewdale $14,500,000
•592-616 Hay Street, Jolimont $13,000,000
•24 Chesterfield Rd, Mirrabooka $8,900,000
•15 Leila Street, Cannington $8,310,000
•7-41 Henderson St, Fremantle $8,250,000
•125-129 Murray Street, Perth $8,100,000
•20 Brown Street, East Perth $7,100,000

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