Chinese developer Zone Q Investments is advancing plans for its second major apartment project in Perth, lodging a development application for a 21-storey tower on the corner of Beaufort and Aberdeen streets in Northbridge.
Chinese developer Zone Q Investments is advancing plans for its second major apartment project in Perth, lodging a development application for a 21-storey tower on the corner of Beaufort and Aberdeen streets in Northbridge.
The project will cost $52 million to construct, according to City of Perth documents.
Zone Q applied to the City of Perth in February to demolish the building currently on the site, which was the former home of PAWS City Café, a popular vegan venue run by the People & Animal Welfare Society.
The development application follows construction beginning earlier this year on Zone Q’s $100 million Pinnacle residential and commercial project opposite Perth Zoo in South Perth.
Local builder Jaxon was signed to carry out the works on that project in January, under a contract worth $63 million.
Pinnacle comprises a 20-storey luxury apartment tower and a seven-level commercial building alongside.
Zone Q Investments is the Australian subsidiary of the large-scale Chinese development firm JiaHe JianAn Group, which has been developing property in Shenzhen for more than 20 years.
Its new development in Northbridge adds to a wave of big apartment projects in the inner-city suburb.
Along Stirling Street, there is nearly $300 million worth of projects in the pipeline, from developers Stirling Capital, Blackburne Property Group and QUBE Property Group.
At 74-78 Stirling Street, Stirling Capital is marketing an $80 million, 136 apartment project that is expected to set new standards in energy efficiency and green living.
Stirling Capital is also planning a 168-apartment project at 108 Stirling Street, with a development approval secured last year.
Sales campaigns are well under way for QUBE’s Sentral project, at 295 Stirling Street, while marketing is also progressing for Blackburne’s 22-level Oracle Apartments, comprising 137 dwellings on the corner of Stirling and Aberdeen streets.
Late last year, Diploma Group also completed construction of its $70 million, 161-apartment One on Aberdeen.
But the biggest of the apartment projects proposed for the surrounding area is EG Funds Management’s three-tower development at the old Megamart site, which includes a 52-storey building containing 350 apartments.
If it goes ahead, and that is no certainty according to industry sources, that building would become Perth’s fifth-largest structure.
In total, the project, which was approved by the City of Perth development assessment panel in January, will comprise 804 apartments.