Infill development site in Belmont offers mixed-business zoning and three street frontages.
One of Perth’s last commercial property auctions for 2017 will be held on December 14 when bids will open for the mixed-business property at 215 Great Eastern Highway in Belmont.
It will be sold by Colliers International’s Tory Packer who said the owners were keen to find a buyer after two previous offers of $12 million and $13 million did not progress.
The 7880sqm site has development approval for a mixed-use project including 124 apartments, a 240-room hotel, a convenience store, a lunch-bar and consulting rooms.
“As the midway point between the city and Perth Airport, Belmont is an established commercial area that is serviced by the recently upgraded Great Eastern Highway and has long-term infill potential,” Ms Packer said.
The property is an amalgamation of seven sites and sits on the boundary of the riverfront suburb of Ascot.
Ms Packer said a large-scale development would have Swan River views and would be close to Crown Perth, Perth Stadium and the CBD.
“The size of the site, its location and mixed-business zoning will also make the auction of interest to the large format retail sector and developers looking for sites for commercial uses.”
As well as its prominent position on Great Eastern Highway, the land also has street frontage to Belgravia and Hargreaves streets.
“The property has good exposure to the high level of passing traffic with more than 260 metres of frontage and multiple access points,” Ms Packer said.
The auction will be held on site at 11am on December 14.