The fifth parcel of land in LandCorp's highly successful Claremont on the Park precinct will soon be transformed, with TRG Properties to develop more than 170 new apartments.
Lot 508, sized at 7,418sqm, is the largest development site within the redevelopment precinct and also has the opportunity to include up to 180sqm of retail and 2,250sqm of commercial space.
LandCorp Chief Executive Frank Marra said Lot 508 had attracted significant interest from developers, with TRG Properties selected as the preferred proponent following a comprehensive assessment process.
"TRG's submission reflected our desired overall outcome for the precinct," Mr Marra said.
"LandCorp has previously successfully partnered with TRG Properties at the Perry Lakes redevelopment and we are confident TRG will make a valuable contribution to the transformation of Claremont on the Park."
Located on Shenton Road, directly opposite Claremont Train Station, the future apartments will offer some residents views across Claremont Oval.
TRG Properties Managing Director Simon Trevisan said the company looked forward to the opportunity to partner with LandCorp on the project.
"TRG Properties is delighted to have been successful in contracting to acquire Lot 508, and to be able to play a part in the transformation of this sought-after precinct," said Mr Trevisan.
"Having successfully developed a dozen sites with LandCorp in the past, including our recently completed Empire Perry Lakes apartments in Floreat, we're looking forward to working together to create another premium quality apartment project that will help to link Claremont on the Park to the existing town centre."
Mr Marra said the redevelopment project was breathing life into a formerly underutilised area.
"Claremont on the Park is a great example of the way LandCorp is realising the potential of underutilised spaces near public transport, transforming them into attractive, sustainable and connected places for people to live, play and work."
"The precinct is beginning to come alive, with much of the residential development under way and the Claremont Football Club's new club rooms to be completed soon." Mr Marra said.
Claremont on the Park is a master planned project on a 9.4 hectare site north of the rail line bounded by Shenton, Graylands, Davies and Lapsley Roads. The redevelopment project will deliver more than 750 homes for approximately 2,000 future residents.
The built-form design for Lot 508 will be governed by design guidelines and reflect the desired overall outcome for the precinct and compliment the high-quality apartment developments completed or currently under construction by Georgiou Living, Mirvac and Blackburne Property Group.
LandCorp will now work with TRG Properties and the Town of Claremont to deliver quality housing surrounding the Claremont Oval.
The sale of Lot 508 will settle in June 2017.
LandCorp has also collaborated with FORM to restore The Goods Shed, the historic railway building within the precinct, which has now been transformed into Perth's newest hub for creativity, culture and community.
LandCorp is undertaking planning and development work to deliver activated urban places in the metropolitan area including Cockburn Coast, Montario Quarter, Murdoch Health & Knowledge Precinct and Cockburn Central.
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