31 March 2007 - $180million investment to revamp Perth’s eastern end

Perth’s eastern gateway will experience a radical transformation, with the East Perth Redevelopment Authority (EPRA) approving more than $180million of sustainable mixed-use development within the Queens Precinct of its Riverside urban renewal project.

EPRA sold the first six lots on the former Metrobus Depot site, bordered by Hay Street, Adelaide Terrace and the WA Police Headquarters, in May 2006 to Frasers Property and TRG Property Group for $20.2million.

Frasers Property’s plans for its four lots were recently approved by the EPRA, along with TRG’s plans for its two lots fronting Hay Street.

Planning and Infrastructure Minister Alannah MacTiernan said the innovative development planned for the Queens Precinct would be a benchmark for the next Riverside precincts to be released to the market.

“We are really pleased with the quality contemporary urban design that has been achieved for Riverside’s first stage,” Ms MacTiernan said.

“The six lots will provide 330 new apartments and townhouses and 11,320sq.m of commercial, retail and hospitality space, including Perth’s first five-star 180 suite serviced apartments, new cafes and convenience stores at the eastern end of our city.

“The three to 18-storey development will achieve high standards of environmental sustainability in emissions, water and energy conservation.

“As part of our affordability policy, the development will include 19 units.

“Perth’s eastern end will come alive with bars, restaurants, cafes and speciality retail stores along a new main street within the development, which will attract tourists and locals to the area.

“East Perth is a prime location that has much potential and we intend to ensure Queens Riverside is the catalyst set to transform the eastern end of East Perth into a vibrant urban precinct,” Dr Stanley Quek, chief executive officer of Frasers Property, said.

The TRG development on the two Hay Street lots will feature townhouses and apartments fronting the beautiful Queen’s Gardens up to four storeys. For further information, contact TRG Property Group on 9321 5922.

For further information about the Frasers development, contact 1300 668 183.

Construction on the six lots will commerce later this year, with development complete in 2010.

The EPRA’s 40ha Riverside project is transforming the under-utilised eastern end of Perth city by creating a new mixed-use inner urban community featuring world-class waterfront entertainment and sporting venues, new homes and commercial space on the banks of the beautiful Swan River.

For more information about Riverside, visit http://www.epra.wa.gov.au or contact EPRA on 1800 639 726.

Minister's office - 9213 6400