School site second only to Kings Park in elevation.
Another property has changed hands in the State Government’s land asset sales program with Colliers International negotiating the sale of the former Perth Girls’ School building in East Perth.
The heritage-listed property sold for $5.072 million to a syndicate of local investors, including a cornerstone investment by Tim Robert’s Warburton Group, which will be led by private fund manager Australian Development Capital.
Colliers International Director Metropolitan Markets Nicholas Agapitos said the campaign attracted nine offers with local and offshore developers competing for the site, which has city, river and Darling Scarp views and is the second highest spot in Perth, after Mount Eliza in Kings Park.
“This land offers a host of options, from commercial to residential to retail and represents a unique opportunity to develop in one of Perth’s most historic and elevated locations,” Mr Agapitos said.
Australian Development Capital will be the development manager for the property at 2 Wellington Street, which has a land area of 11,162sqm.
The Perth Girls’ School building was developed by government architect A.E Clare and awarded an architectural award in 1939 recognising the workmanship and design.
The building reflects the Art Deco style of the period, including the use of pyramid-shaped roofs and striped columns.
“With its sporting venues and riverfront land just minutes from the CBD, East Perth will be a key area for infill development,” Mr Agapitos said.
“The East Perth property is also next to the Metropolitan Redevelopment Authority’s 40ha Riverside redevelopment which is expected to have 7000 residents and will take in the area around Gloucester Park, the WACA, the Waterbank residential development and Queens Gardens.”
The former Perth Girls’ School operated at the imposing East Perth building from 1936 to 1962 and it was later used by WA Police.
The WA Government is selling surplus and underutilised property through the land asset sales program. Sale proceeds will be used to reduce State debt.