Perth hotel development to attract investment
The Western Australia government is calling on developers to express their interest for the ...
The Western Australia government is calling on developers to express their interest for the construction of a multimillion-dollar hotel earmarked for Perth.
Announcing the first land release at Elizabeth Quay yesterday (September 6), state planning minister John Day said the project represented significant opportunity for investors.
He said: "Elizabeth Quay is a premium waterfront development that is set to make a major contribution to the future expansion and diversity of Perth's city centre."
With Perth boasting the tightest commercial office property market in the country, the project, which will include 200,000 sqm of commercial space, may attract the interest of investors.
"Located in the city with the highest occupancy rates for hotel rooms in the nation, these two sites have the potential to deliver a world-class hotel for Perth and 400 new hotel rooms in the heart of the CBD," Mr Day explained.
The development, which will also include 800 residential dwellings and 25,000 sqm of commercial retail property space, is in close proximity to the city's tourism and shopping precincts.
Expressions of interest for the first land release close October 25.