A one-off opportunity to ‘complete’ the multi-award winning Subi Centro redevelopment is expected to attract strong interest from major developers and investors around Australia.
The Subiaco Redevelopment Authority (SRA) is seeking Expressions of Interest in transforming the historic 4.4 hectare Australian Fine China (AFC) site into a first-class residential and commercial precinct.
SRA Chief Executive Officer Tony Morgan said the AFC site offers exceptionally rare residential and commercial land in Subiaco.
“We are looking for developers and investors who are keen to innovate and who will add a new dimension to a world-class transit oriented community,” Mr Morgan said.
“Subi Centro has outstanding amenities and lifestyle benefits and performs consistently well in terms of capital growth and investment return.”
Located on Hay Street, the AFC site is adjacent to existing Roberts Road developments and a short walk west of the Subiaco train station and Rokeby Road.
Mr Morgan said the SRA had made the AFC site even more attractive to both national developers and boutique Perth-based developers by offering it either as one super-lot, or any combination of three packaged development sites.
“Each of the three development site packages provides a unique opportunity to meet market demand for compact, inner-urban dwellings and office space in close proximity to public transport and a range of amenities.”
“The site provides for the innovative development of a mix of commercial, retail, hotel and residential opportunities for the people of Perth.”
Future residents of the AFC site will enjoy access to outstanding parklands, local fitness centres and the Rokeby Road retail precinct, while businesses and commercial operators can align themselves with existing landmark corporations, including CSC, iiNet and Mirvac.
A significant piece of Subiaco’s commercial history is represented in the AFC precinct and developers will be encouraged to be creative in interpreting heritage elements and incorporating sustainability initiatives into their designs.
The centrepiece of the community will be a central plaza which will feature public art influenced by AFC’s heritage and a water feature, and will provide alfresco dining and community activities.
Mr Morgan said the AFC site development will add vigour and prosperity to the Rokeby Road shopping and hospitality precinct, while maintaining and enhancing the rich historical and social values of the area.
“The project also aims to achieve significant reductions in water and energy use via several initiatives including solar orientation, the installation of a centralised geothermal exchange bore system and rainwater-capturing tanks and greywater and stormwater recycling.”
Subi Centro has built on Subiaco’s rich history to transform more than 80 hectares of derelict industrial land into beautifully landscaped public open spaces, residential streets, and commercial and mixed use precincts. Total private investment by the private sector in Subi Centro, including the AFC site, is expected to exceed $900million.
Expressions of Interest are open until 17 August 2011. Initial submissions from developers will be assessed on technical credentials, capacity and expertise, vision and indicative price. Selected shortlisted proponents will then be invited to submit more detailed, binding proposals for the AFC site.
Developers and investors seeking more information about the sale can contact Mark Hedges, AFC Project Director on 9222 8000.