Land development at Perth City Link achieves major milestone

(From Connect September issue)

It’s one of Perth’s biggest projects. They’re two of Australia’s biggest property companies. Bring them together and it’s another major milestone in transforming the heart of Perth.

A consortium comprised of Leighton Properties and Mirvac is the frontrunner to develop the Perth City Link site, with plans to create new office, retail, hotel, living and recreation spaces.

Metropolitan Redevelopment Authority Chief Executive Officer Kieran Kinsella said identifying the Leighton Properties/Mirvac consortium followed a rigorous assessment of expressions of interest received for the right to develop the State Government’s 5.1ha land holding.

Submissions were judged on criteria including experience, technical capacity and expertise in undertaking similar developments.

“Our standards and expectations in judging the contenders were high,” Mr Kinsella said. Perth City Link project is a key part of the plan to revitalise Perth, providing new opportunities for people to live, work and play in the city, with attractions for both tourists and locals.”

“Leighton Properties and Mirvac are two of Australia’s most highly-credentialed property companies and were able to successfully demonstrate the experience required to deliver a development of this scale.”

The consortium was invited to submit a detailed proposal, outlining its approach to key aspects of the Perth City Link.

“The process is far from complete. The consortium’s detailed proposal will now undergo an extensive expert evaluation process and be judged in terms of its place making approach, development mix, transport and access plans, as well as its business and staging plan,” Mr Kinsella said.

The evaluation and negotiation process is expected to continue until early 2013.

Mr Kinsella said the strategy of working with one developer would help deliver an integrated development and allow building to be staged alongside the infrastructure works.

“This project requires a significant time commitment by a developer. The successful developer will be required to stage their developments in accordance with the roll-out of the infrastructure works – sinking the rail line, to be completed in 2014, and bus station, to be completed in 2016 – which will free up the land for development.”

Development of the 5.1ha land holding has the potential to deliver up to 265,000sqm of new building space across commercial, retail, hotel and residential uses, as well as approximately 1.4ha of public space.