Activation of Subiaco’s popular city centre will increase following the sale of a mixed-use development site in the Carter Lane Precinct.
In a transaction negotiated by Colliers International’s Tory Packer, the City of Subiaco sold 6 Carter Lane, a vacant land parcel in a former light industrial area, for $2.3 million.
The 843 sqm site was purchased by Maison Holdings, which is partly owned by Hillam Architects’ David Hillam.
Ms Packer said multiple bids were received during the campaign which closed in 2017.
The contract negotiation included an extended settlement period to optimise the return to the City of Subiaco and allow the developer time to plan for the future of the site.
“This corner site, one of the two big residential lots in Carter Lane Precinct, attracted interest from local and national developers wanting to be a part of a key infill project in Subiaco,” Ms Packer said.
“The zoning allows for a medium-density, mixed-use project and the City of Subiaco expressed a preference for it to have commercial uses on the ground floor and apartments on the upper floors.”
The site has a plot ratio of 2.50:1 and a minimum building height of three storeys and a maximum of four storeys.
It overlooks Carter Lane Park, a 3000sqm public open space with water features and picnic and barbeque facilities, part of the green spine running through Subiaco.
Hillam Architects and its partner Edge Visionary Living are already active on Carter Lane where they are developing the Botanical Apartments project, which is nearing completion.