NEWS

Rare Hay Street development site offering size and location to go under the hammer

Jolimont site to attract bids from operators across several property sectors

A Hay Street development site with a 9,984sqm footprint is expected to attract multiple bids when it is auctioned on April 11.

According to selling agent Colliers International, the release of nearly one hectare of land just one kilometre from Subiaco’s centre, will open the auction to developers keen to secure a city-fringe site that offers the rare combination of size, location and access to public transport.

Owned by the City of Subiaco, the Jolimont properties at 592-616 Hay Street and 2 Bishop Street are close to the Australian Fine China precinct and have a commercial/residential zoning and a 1:0 plot ratio with bonuses.

“Interest has already been received from several industry sectors requiring large sites for their projects but the properties are also expected to be seen as a valuable opportunity for mixed-use developers,” Colliers International Investment Services executive, Tory Packer, said.

“Located between the city and the coast and surrounded by an established residential catchment, the site is also close to the Subiaco train station and has a Walk Score of 88 per cent.”

The properties have a 166m frontage to Hay Street and according to 2014-15 data from Main Roads WA, approximately 12,610 cars travel past the site on a typical weekday.

Ms Packer said the site’s zoning allowed for building heights up to 12 metres and wall heights of nine metres.

The properties will be auctioned on site at noon on April 11. Initially, they will be offered in-one-line and if not sold, will be offered as three individual sites on that same day.

The City of Subiaco has secured conditional approval from the Western Australian Planning Commission to subdivide the land into three lots.

Under the proposed sub-division, Lot A on the corner of Bishop and Hay streets would be 3114sqm, 3050sqm would be allocated to Lot C on the corner of Hay and Tighe streets and Lot B, the central parcel would have 3820sqm.

Colliers International Perth Western Australia Subiaco Jolimont Investment Services development site commercial real estate corporate property

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