A 1,127sqm development site on Cecil Avenue in Cannington with the potential to accommodate a residential complex or a student accommodation project has come to market through Colliers International.
Located opposite Westfield Carousel and in the heart of the new Canning City Centre, the site is occupied by a 150sqm commercial building with a short-term lease but the newly released density targets for the precinct require a minimum of 120 dwellings per hectare and a building with six to nine storeys.
The property has a sought-after City Centre zoning allowing for mixed-use residential, commercial or retail developments but Colliers International’s Investment Services Executive Tory Packer said developers keen to meet growing demand for student accommodation were expected to be among the bidders.
“Curtin University is just five kilometres away and a direct bus route connects Cecil Avenue to the Bentley campus,” Ms Packer said.
Under the City of Canning’s plan to create a vibrant city centre, Cecil Avenue, which runs from Albany Highway to the Cannington train station, will become the city’s new main street.
Westfield Carousel, which attracts 11 million visitors each year and has approval for a major expansion, will be a key component of the city centre which also allows for medium-rise apartment towers, public open space and commercial buildings along Cecil Avenue.
In addition to doorstep shopping and entertainment, Ms Packer said the site’s amenity included the Cannington train station less than 1km away and Cannington Leisureplex, which has a library, an aquatic centre and a gym.
“This is a perfectly positioned mixed-use development opportunity and we are expecting strong interest from residential developers,” Ms Packer said.
The site is next to one of the city centre’s first residential towers under construction, the 12-storey Momentum Apartments which will deliver 112 apartments when finished next year.
Expressions of interest for 14 Cecil Avenue close on July 20, 2016.