Residential: Apartment Sites
High Profile Inner City Corner Site with Major Rezoning Upside
LJ Hooker Commercial Perth are pleased to offer 320 Hay Street, Subiaco to the market for sale by Offers Invited closing Wednesday 31st July 2019 2:00PM WST.
This is a fantastic opportunity to purchase a prominent freehold corner site with an imminent major rezoning upside in the heart of Subiaco. This property will enable an astute buyer flexibility to accommodate either their own requirements or those of the intended occupier.
Key highlights include:
- Land area 880sqm* with dual-street frontage
- Building area 512sqm* plus 8 on-site car bays and storage shed
- Proposed zoning ‘R-AC 0’ under endorsed ‘LPS5’ by the City of Subiaco
- Up to 6 storeys (STCA)
- Maximum plot ratio 3.0:1.0
- Flexible use profile
- Vibrant retail and food & beverage location
- Significant development underway surrounding
- Excellent connectivity to public transport routes and various road networks
- Near Subiaco by Blackburne, the regeneration of the Pavilion Markets site
The City of Subiaco recently unanimously recommended the new guidelines under Local Planning Scheme No.5 (LPS5) which has been forwarded to The Western Australian Planning Commission and Minister for approval.
Upon the imminent approval, it allows an astute buyer an exciting opportunity to capitalise on the new "R-AC 0" zoning which offers a 3:1 plot ratio with a height limit of 6 storeys. (For your consideration we can provide a Town Planning Report prepared by TBB on request).
Situated in an affluent inner metropolitan suburb only 3km west of the Perth CBD, the property is located on the northern side of Hay Street on the corner of Townshend Road. It benefits from dual street frontages and is close to the Subi East project area that includes Subiaco Oval, Bob Hawke College, Mueller Park, the former Princess Margaret Hospital site.
The property occupies a prime position within Subiaco’s Hay Street retail strip and is within close proximity to Subiaco Train Station, Subiaco Square and major transport routes and amenities.
IM available upon request.
Contact the exclusive selling agents Jack Bradshaw and Brian Neo for further information.
(STCA) Subject to Council Approval
Remember to mention you found this property on DevelopmentReady.com.au