South Perth Redevelopment Opportunity – High-Demand Location with Strong Growth Fundamentals
LAND AREA 2290 SQM
ZONED 'CENTRE R-ACO'
SUBSTANTIAL HOLDING INCOME
Benefit from South Perth’s continued capital growth and low supply of development-ready sites with this strategically positioned property, ideal for residential, mixed-use, or commercial projects (STCA).
The subject site is 2,290m2 in area and zoned “Centre R-AC0” under the City of South Perth Town Planning Scheme No. 7 (TPS7). Development is to accord with the South Perth Activity Centre Plan. The site consists of 14 strata lots across four storeys, with ground floor and mezzanine car parking.
The site is located in an area in transition with new mixed-use development and high rise towers. It is in close proximity to the river, parks and open space, the public transport network, Perth Zoo and the Mend St ferry terminal, as well as shops, restaurants and other commercial amenities.
The site is well serviced by all infrastructure providers and no heritage values have been identified on the subject site.
There are two development scenarios that accord with the South Perth Activity Centre Plan and TPS7. These provide for an eleven (11) or seventeen (17) storey building, noting the same planning framework allowed for 20 storeys to be approved at 53 Labouchere Road.
The potential plot ratio under each scenario is as follows:
• Primary – 12,366m2 (11 storeys plot ratio of 5.4).
• Tier 1 – 15,114m2 (17 storeys plot ratio of 6.6).
Planning approval pathway options include the Development Assessment Panel or the Part 11B Significant Development Pathway, where the WA Planning commission will be the decision maker. The existing strata scheme will need to be terminated through an application to the Department of Planning Lands and Heritage to facilitate development.
Market & Investment Context
• Perth is Australia’s fastest-growing housing market in 2025, with dwelling values up 12% over the past year and July alone seeing a 0.9% rise—led by affordability, strong population growth, and limited supply.
• Median house price in Greater Perth now sits around $780,000–$855,000, showing approximately 18% annual growth—delivering a dramatic $134,000 increase in median value.
• Rental dynamics are strong, with vacancy rates near historic lows (~0.7%) and yielding ~4–4.5%—the highest across major capital cities.
• Experts forecast Perth to lead future growth, with estimates between 6–19% through 2025, depending on interest rate movements and continued migration-driven demand.
Local Focus: South Perth
• As an inner-city riverside suburb, South Perth commands premium pricing—median house values hover around $1.25 million, with surrounding suburbs like Salter Point and Kensington similarly strong at ~$1.1M and ~$0.97M respectively.
• Civic Heart, completed June 2024, is South Perth’s tallest development (147m, 309 apartments, 26 commercial tenancies), signaling high developer confidence and demand at this scale.
Key Investment Highlights
• Land Area: 2290sqm
• Zoning: The subject site is zoned “Centre R-AC0” – enabling multiple development outcomes and density uplift potential*
• Holding Income: There are 14 leased and or leasable assets delivering a rental of approx. $500,000 per annum. Schedule of leases and income available on request.
• Development Potential: High-end apartments, boutique mixed-use, or commercial offices (STCA) – Fully planning report available on request.
• Market Demand: Perth’s property market is surging—rental yields, price growth, and investor interest remain exceptionally strong
• Accessibility & Amenity: A short 3-minute drive to the CBD, 500m to Swan River & Mends Street dining precinct, with strong transport links including freeway and ferry access
Strategic Advantages
• Tight supply & high demand in South Perth create inherent scarcity value, underpinning both capital growth and rental upside
• Proven precedent at scale via Civic Heart demonstrates market readiness for well-designed, high-density schemes
• Broader Perth fundamentals—population growth, housing undersupply, affordability relative to east coast capitals—all support long-term uplift
Location Snapshot
• 3 mins to Perth CBD
• 500m to Swan River foreshore & ferry to Elizabeth Quay
• On foot from Mends Street dining, retail, and lifestyle offerings
• Immediate access to freeway and public transport infrastructure
Opportunity Summary
This South Perth landholding is one of few landmark sites on offer with such high return potential. Poised across premium precinct dynamics, Perth’s hottest property fundamentals, and strong local development precedent.
For sale by ‘Expressions of Interest’ with all Tenders to be submitted by 4pm WST, Wednesday 10th September 2025 to Exclusive Selling Agents - Stephen Vitale +61 416 095 9... (stephen@boutiquepropety.co) and Mike Calneggia +61 419 963 4... (mike@boutiquepropetyandadvisory.com).
