The release comes on the back of the successful sale of the largest site within AFC, Lot 203, to experienced local developers Edge Holdings.
MRA Acting Chief Executive Officer Sean Henriques said the recent sale has paved the way for the release of Lot 204, a 2,678sqm residential lot located closer to Subiaco Common.
“The release of Lot 204 to market will continue to respond to demand for inner-urban dwellings close to the city, with public transport and a range of activities nearby.”
“Since 2014 there has been a steady increase in apartment developments in Subiaco, which have been well received by a range of home buyers,” Mr Henriques said.
Edge Holdings, run by Gavin Hawkins and David Hillam of Hillam Architects, has purchased Lot 203, a key lot fronting Hay Street and Roberts securing a $12.5million land sale for the precinct.
The company has a proven track record in Subiaco having completed the successful Foundry Apartments and Folio 31 apartments.
“The feature development will provide new commercial and residential opportunities for the community and create a highly visible entrance to both the Australian Fine China precinct from the south, and Subiaco as a whole from the West”.
Construction on Lot 203 is expected to commence in the next two years, subject to development application approval. Offers to Purchase for Lot 204 close on 26 May 2016.
Source: News Release, Perth Metropolitan Redevelopment Authority, 27 April, 2016