Malaysian global property developer secures multiple lots at Cockburn Central West

30 Sep 2016

  • SM Venture Capital secures three lots totalling more than 8,600sqm
  • Five mixed-use development lots remain, priced from $1.82 million
  • Located close to the $109 million Cockburn ARC and future home to the Fremantle Dockers Football Club
  • Cockburn Central West is the final stage in the State Government's Cockburn Central Activity Centre development.

Perth-based property developer SM Venture Capital is expected to spend $100 million at LandCorp's highly anticipated Cockburn Central West development, following its acquisition of three lots on the corner of Veterans Parade and Midgegooroo Avenue.

It is the first development in Western Australia for SM Venture Capital, a subsidiary of Malaysia-based global property development and construction group Seri Mutiara Development.

Seri Mutiara Development Group managing director Datuk Benny Hoe said three apartment buildings would be developed on the three lots, with construction of the first scheduled for late-2017 or early 2018.

"We recognised an exciting opportunity to invest in Western Australia through the construction of innovative housing in a great location," he said.

"Cockburn Central West provides the opportunity for an innovative mixed development integrating with the City of Cockburn's landmark, $109 million state-of-the-art Aquatic and Recreational Centre - now known as Cockburn ARC."

"The area is a developing centre outside the CBD, and its close proximity to Cockburn Central Station makes it possible for people working in the city to make Cockburn Central West their ideal place to live and enjoy the brand new facilities now under construction."

Three apartment buildings will be staggered over several years, with each offering high-quality architecturally designed one, two and three-bedroom apartments.

SM Ventures estimated $100 million investment in the development will directly support the local economy which is already benefitting from the $109 million Cockburn ARC.

LandCorp acting chief executive Dean Mudford welcomed the property acquisition, which is expected to yield more than 390 apartments upon completion.

"The significant investment by SM Venture Capital highlights the unique appeal of this new contemporary urban centre," Mr Mudford said.

"We are delighted to welcome SM Venture Capital's investment and we look forward to this development becoming an important part of the Cockburn Central West community."

More than 50 percent of mixed-use lots have now sold in stage one with only five mixed-use lots remaining, priced from $1.82 million.

The final lots, ranging in size from 2,899 square metres to 5,376 square metres, are zoned for uses including apartments, cafes and restaurants as well as office and retail space, offering exceptional choice for developers.

"Developers have a limited opportunity to become part of the thriving new urban hub at Cockburn Central West, which features close proximity to the Gateway Shopping Centre, Cockburn Train Station and the adjoining Cockburn Town Centre," Mr Mudford said.

"Future residents will also enjoy easy access to the Cockburn ARC, which will be the centrepiece of Cockburn Central West and the new home to the Fremantle Dockers Football Club by 2017."

Stage one civil works at Cockburn Central West finished in April 2016 and landscaping works for the community playing fields, wetland and adventure play areas have already commenced..

When complete, Cockburn Central West will deliver affordable apartment living for more than 2,000 people in over 1,000 new dwellings, together with 4.8 hectares of public open space, to reinvigorate one of Perth's established southern suburbs.

"Cockburn Central West is transforming underutilised land to create a connected and vibrant urban place for more Western Australians to live, work and play," Mr Mudford said.

"The new urban centre and recreation facility will also deliver multiple commercial and retail opportunities that will boost the local economy and provide a range of local employment choices for residents.

"Cockburn Central West is just one example of successful urban regeneration projects being delivered by LandCorp across Perth."

Cockburn Central West is the final development within the State Government's Cockburn Central Activity Centre. The Activity Centre demonstrates successful density living in established suburbs to support the State's growing population.

LandCorp media contact: Andrew Kikiros 9482 7448 or Andrew.kikiros@landcorp.com.au

About LandCorp

LandCorp realises the potential of land and infrastructure developments for all Western Australians. We develop land for living and land for working to help build our State's social and economic prosperity. We create new metropolitan and regional communities that are sustainable, integrated and connected and we deliver infill, industrial and urban renewal developments. LandCorp's Innovation through Demonstration projects champion change and ground-breaking technologies.

For more information visit landcorp.com.au

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