Development Opportunity of Scale at Burswood Peninsula

(Sydney, Australia) EG Funds Management (EG), one of Australia’s leading real estate fund managers has appointed JLL and Axia Corporate Property as exclusive joint selling agents for sale Lots 9 & 25 Victoria Park Drive, Burswood, Western Australia. The property is offered as a combined 11,454 sqm across two sites adjacent to Crown Perth, the properties are set to hit the market 15 May 2019.

Burswood Peninsula is located 5 kilometres east of the Perth CBD, with immediate accessibility via the Graham Farmer Freeway and Great Eastern Highway. The two sites, prominently situated adjacent to Burswood Train Station, have excellent connectivity to major arterial roads, the Perth airport and have views of the Perth CBD and Swan River.

Located in the high profile Burswood Peninsula precinct the sites are in close proximity to the Crown Perth casino, resort and entertainment complex and to the newly completed world class multipurpose 60,000 seat Optus Stadium.

The dynamic and flexible list of preferred uses identified under The Burswood Peninsula Master Plan includes amongst other uses apartments, serviced apartments, hotel, retail, commercial, entertainment and tourism delivering the potential for unique mixed-use developments and infrastructure projects.

JLL’s Nigel Freshwater, Nicholas Agapitos and Sean Flynn and Andrew Woodley-Page from Axia Corporate Property are conducting the Expressions of Interest Campaign and expect the high profile offerings to attract the interest of both national and international investors/developers.

JLL’s Head of Sales and Investments WA Nigel Freshwater said “the properties are within a world class precinct on the eastern banks of the Swan River which offers an opportunity to deliver two truly landmark mixed-use developments in one of Australia’s most iconic hospitality, tourism and entertainment destinations”.

Lots 9 and 25 on Victoria Park Drive have an attractive plot ratio of up to 4:1 and are zoned to allow for development of residential apartments, hotel and serviced apartments. The properties provide for a project(s) of significant scale with an approved development height up to 24 stories (75 metres).

Axia Corporate Property Director Andrew Woodley-Page said “Burswood Peninsular is unique being equidistant from the Perth CBD and domestic and international airports, set on the banks of the Swan River with fantastic amenity at the Crown complex and Optus Stadium is set to benefit enormously as Perth grows in the medium term.”

Lot 9 is 6,441sqm and fronts Victoria Park Drive and Bow River Crescent whilst lot 25 is 5,013 sqm and has excellent access to Burswood train station.

JLL Director Nicholas Agapitos comments “that with strengthening State GSP and Perth’s medium term population growth forecast, sites in this location 5km from the CBD, that can be developed to a total of 560 dwellings (subject to approvals) is an unparalleled opportunity.”

This unprecedented offering is not to be missed, with no directly comparable opportunity currently available in Western Australia.

The sites are being sold by Expressions of Interest campaign closing 27 June 2019 (AWST).