A prime development site on Beaufort Street, boasting an expansive 30.28-metre frontage, has been listed for sale, with agents highlighting its walking distance to the new Edith Cowan University (ECU) city campus, the Northbridge entertainment precinct, public transport connections, and a diverse array of shops, offices, bars, and restaurants.
Development potential
The property benefits from flexible zoning, no prescribed height limit, and a plot ratio of up to 4:1, making it suitable for a landmark development, student accommodation, or a build-to-rent project. Colliers' Shane Isaacs and Knight Frank's Jonathan Wong have emphasised the arrival of ECU's city campus this year, which is expected to bring more than 9,000 students and staff into the CBD.
Mr Wong noted that the opening of the ECU Perth City Campus has significantly enhanced the appeal of the Beaufort Street precinct. “The proximity to the ECU Perth City Campus has helped reshape demand in this location,” he said. “We are seeing strong interest from local and offshore groups seeking opportunities for residential, student accommodation, and mixed-use development, reflecting growing confidence in Perth’s city fringe market and the long-term strength of this precinct.”
Mr Isaacs described the property as an “increasingly rare opportunity” to acquire a major development site on the edge of the CBD. “Large landholdings of this scale, so close to the Perth CBD, are becoming exceptionally difficult to secure,” he said. “With its substantial site area, prominent Beaufort Street frontage, and flexible planning controls, the property offers genuine long-term upside for developers looking to capitalise on the continued evolution of Perth’s inner-city market.”
The property is offered for sale by expression of interest, with bids closing on May 20.
Holiday Inn West Perth on the market
Meanwhile, the Holiday Inn in West Perth has also been put up for sale, capitalising on Perth’s strengthening hotel market. The 101-unit hotel complex, located in the heart of West Perth, is one of the few hotels to hit the market in recent years. JLL has already closed the expressions-of-interest campaign and is promoting Perth’s hotel credentials in the sales campaign.
Perth’s hotel market recorded a 13.5 per cent growth in RevPAR (revenue per available room) last year, the strongest improvement of any Australian capital city. The last hotel to sell in Perth was Fraser’s Suites, which was purchased by the State Government for $105 million.
Record rural land sale in Great Southern
In a separate transaction, three local landowners have joined forces to acquire one of the largest rural holdings in the Great Southern region, reportedly paying a combined record of $52.5 million. The 11,262-hectare West Fitzgerald and West River aggregation is situated between Albany and Esperance.
Elders agent Simon Thomas declined to disclose the names of the purchasers but noted that strong competition from neighbouring landholders drove the final price well above expectations, setting a new benchmark for the region. “It’s an excellent sales result for the local area,” he said.
The sale came from the estate of MP Slade, a long-time private landowner who had built up a large-scale, multi-property agricultural aggregation spanning six adjoining farms. The West River and West Fitzgerald aggregation stood out because all the holdings were connected, with the full 11,262 hectares only split by a single road. The aggregation is also valued for its strategic location, with its southern boundary fronting the South Coast Highway, providing convenient transport links to regional service centres, processing facilities, export terminals, and local CBH receival sites.
The holdings were operated as a commercial merino sheep enterprise, carrying about 10,000 head, alongside significant broadacre cropping of barley and canola. The property includes three homes, multiple sheds, shearing facilities, sheep yards, and several silos.
