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Perth development site goes to market with $3.75 million asking price

A Northbridge development site with views over Perth's Russell Square and frontage to two streets has been listed for sale.

The 548sqm property at 8 Parker Street has an asking price of $3.75 million and will be sold by jointly appointed agents Colliers International's and Acton Commercial.

Colliers International's Shane Isaacs said the property’s city centre zoning allowed for commercial, hotel and mixed-use developments but was likely to be snapped up by an apartment developer.

“With a plot ratio of 4:1 plus bonuses, a developer can build an apartment complex that will offer buyers access to a popular park across the road and the amenity of Northbridge nearby,” Mr Isaacs said.

The block has a rear boundary on Mountain Terrace which will offer design and access options for a future development.

Tim Scott, Associate Director, Retail Leasing and Metro Sales at Colliers International, said the vacant Parker Street property would score well on developer checklists for amenity and walkability.

“This property is less than one kilometre from Perth train station and the CBD, and just 400 metres from Perth Busport,” Mr Scott said.

“Although apartment sales have slowed, sites with this level of amenity are holding up well and we are expecting multiple offers for this infill property.”

Development site in Perth's Northbridge goes to market
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