WA developer SM Venture Capital has lodged its first development application in its home state for a residential masterplan in Perth’s emerging Cockburn Central precinct.
The group, a subsidiary of Malaysia’s Global Property Development and construction group Seri Mutiara, has applied to the City of Cockburn to transform a disused site south of Perth into a 170-apartment, four-tower masterplan on Veterans Parade.
SM Venture Capital, led by Danny Chin, pieced together three undeveloped sites—1 Veterans Parade, 7 Veterans Parade and 9 Service Mews, in early 2016 in a $15-million purchase from Landcorp.
The 8500sq m site is next to Cockburn Central Town Centre and Cockburn Gateways Shopping Centre.
Under revised plans, designed by Space Collective Architects, SM Venture Capital plans to build four apartment buildings ranging between six and seven storeys. The development will also feature 21 three-storey townhouses.
The $60-million development will be completed in five stages offering 39 one-bedroom apartments, 110 two-bedroom apartments and 21 three-bedroom apartments.
The project’s first stage will involve the delivery of the townhouse portion of the masterplan while the second and third stage will include a five-storey apartment building and seven-storey apartment building.
Its fourth and fifth stages will include two apartment buildings, both six storeys.
The apartment precinct will be built above a two-level basement with 193 car parking bays.
The development, which has been mooted since late 2016, was originally expected to comprise 390 apartments across three apartment buildings.
Instead the developer has reduced the number of apartments while increasing the number of apartment buildings while adding townhouses.
Cockburn is 24km south of Perth on Whadjuk Nyungar land. It is traditionally known as Beeliar Boodjar.
The future residential precinct will be supported by the Thornlie railway line planned to run to Cockburn Central in late 2024.
The proposed development will link to all areas of Cockburn Central, including the bus interchange, the civic centre, the aquatic and recreation centre, and the health precinct.
Nearby, Perron Group is preparing to start work on a $1-billion commercial and retail precinct dubbed Cockburn Quarter after being given the green light by the council.
The 20-year, multi-stage development will include the expansion of Cockburn Gateway Shopping Centre, including retail, cinemas, childcare, dining and entertainment. Construction is due to start in the next three years.
Perron has also committed to funding and developing a new pedestrian bridge linking both sides of Beeliar Drive.
Article Source: www.theurbandeveloper.com