Perth, WA

A prime Mixed Use site on Fremantle’s Queen Victoria Street is expected to attract strong interest from developers, with the property’s location in an emerging residential redevelopment precinct and the potential for harbour views a key draw for buyers.

The site, located between Burt and James Streets, is currently home to a used car yard but is being offered for sale with vacant possession. The owner, who is retiring, is offering a six month settlement.

The property offers dual street frontage, with exposure to an estimated 30,000 vehicles a day.

The property comprises a total land area of 986.42sq m and is zoned Mixed Use, with a Residential R25 component. However, an increase to a residential zoning density of R60 currently under consideration would allow a development of up to four or five stories, opening up the possibility of upper-level apartments with harbour views.

Colliers International Executive Investment Sales Terry Hutchings said the site represented a premium opportunity for developers keen to secure a foothold in an evolving area of Fremantle.

“The property is located in an area which is set to undergo an incredible transformation, spearheaded by the proposed conversion of the Fort Knox building by the Match Group into high-end apartments,” said Mr Hutchings.

“A development on this site with the likes of retail, offices or restaurants on the lower levels and apartments on the upper levels would take full advantage of this area’s evolution into the gateway into Fremantle.”

The property was also free of any heritage issues, making it ideal for redevelopment.

Mr Hutchings said he property at 81-85 Queen Victoria Street, Fremantle, was expected to sell for upwards of $3.5 million.

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.

Contact Information

Terry Hutchings
Executive, Investment Sales
Tel: +61 8 9261 6666
Fax: +61 8 9261 6688
Mob: 0434 659 808
E: terry.hutchings@colliers.com 

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