Colliers International to sell three Bowman Street properties.
Satterley is relocating to new headquarters in West Perth and has appointed Colliers International to sell its long-held South Perth offices.
The company’s three consecutive Bowman Street properties are located in the South Perth Station Precinct, the central area on the South Perth peninsula that has been earmarked for a diverse range of land uses including higher levels of residential and commercial development that would encourage patronage for a future rail station.
They will be sold by Colliers International Directors Daniel Crotty and Wayne Chorley who said the properties would be offered for sale as individual lots or as one large development with a 70.4m frontage to Bowman Street.
“We are expecting strong demand for the individual properties and for the one large site with the three adjacent properties offering a combined area of 2978sqm, making it one of South Perth’s bigger development lots,” Mr Chorley said.
The 1784sqm property at 18 Bowman Street has a purpose-built, three-storey office building while the houses that have been converted to offices at 20 and 22 Bowman Street are on 597sqm sites.
“These office properties will suit owner-occupiers and if leased they would offer holding income which would also make them suitable as longer-term development sites,” Mr Chorley said.
The properties have an urban zoning and their development potential will be controlled by provisions in the South Perth Station Precinct Special Control Area and Schedule 9A of the City’s Town Planning Scheme.
Mr Crotty said the properties’ redevelopment potential would be of particular interest to local and off-shore developers.
“The site has a maximum building height of 25 metres, which is measured to the finished floor level of the upper-most storey of the building and a range of uses can be developed on the site, including apartments, office, retail, consulting rooms and tourism accommodation,” Mr Crotty said.
“With the freeway ramp just around the corner and the Mends Street commercial precinct within walking distance, these properties will appeal to developers looking for a central location on South Perth’s peninsula.”
Satterley, Australia’s largest private residential land developer, is planning to relocate to its new office in the middle of the year.
Satterley founder and Chief Executive Nigel Satterley said the company had outgrown its South Perth offices and its new headquarters would allow greater expansion of its operations.
The company will occupy 2300sqm at the West Perth office building at 27-31 Troode Street.
The properties will be sold via an offers invited campaign which closes on April 28.