A prominent West Leederville corner landholding opposite the train station, with potential for an 18-storey development, has been released to the market just 2.5km from the Perth CBD.
The recently approved West Leederville Activity Centre Precinct Structure Plan supports development of up to 18 storeys and a plot ratio of 6:1, subject to relevant statutory approvals.
The West Leederville Portfolio, comprising 250 Railway Parade, 240–242 Railway Parade, 2 Rosslyn Street and 4 Rosslyn Street, offers a combined 1,970sqm landholding within the Rosslyn Quarter precinct.
The properties are being marketed by Sterling Property and are available either individually or as an entire holding, appealing to developers, owner-occupiers and investors.
Sterling Property Senior Partner Jack Bradshaw said the opportunity was expected to attract strong interest due to its location, the recently approved planning framework for developers, and the rare flexibility of four freehold buildings being offered at different price points, which may attract a range of buyers seeking to acquire individual assets within the precinct.
“The planning framework now in place allows for meaningful density in what is already one of Perth’s most sought-after inner-city locations,” Bradshaw said.
“Combined with direct rail access and strong surrounding amenity, the site presents a compelling redevelopment opportunity.”
Bradshaw said the flexibility to acquire the properties individually would also appeal to office, medical, hospitality and retail owner-occupiers seeking a prominent inner-city location.
The two Rosslyn Street properties may also attract residential buyers, with Bradshaw noting 2 and 4 Rosslyn Street could suit buyers seeking character buildings with future redevelopment potential.
The site sits close to established hospitality venues including BESK and Mary Street Bakery, along with the Northwood Street café strip and West Leederville Shopping Centre, and is within easy reach of Subiaco, Leederville and West Perth.
Sterling Property Partner Simon Brady said the ability to purchase the properties individually or together provided flexibility for a range of buyer groups.
“Developers may look to secure the entire landholding for a high-density residential project, including build-to-sell or build-to-rent outcomes, while smaller investors or owner-occupiers may see value in acquiring individual buildings within the precinct,” he said.
The properties are being offered For Sale via Offers Invited closing Thursday 23rd of April at 2:00pm AWST (unless sold prior)
West Leederville Portfolio:
- 250 Railway Parade – 933sqm landholding
- 240–242 Railway Parade – 397sqm landholding (vacant)
- 2 Rosslyn Street – 324sqm landholding
- 4 Rosslyn Street – 316sqm landholding
Total land area: 1,970sqm.
