$16m office building for South Perth

Developer GM Property Group has received planning approval for a $16 million office building in South Perth.

The four level, 2,000 square metre strata office development, on the corner of Mill Point Road and Harper Terrace, is the first to receive the green light under the City of South Perth’s revised town planning scheme.

Pre-construction prices for strata units will begin at $475,000, with units ranging in size from 50sqm up to 677sqm.

Construction is expected to begin in mid-2014 and be completed in 2015.

GMPG director Simon Munckton said tenants would benefit from end-of-trip facilities and a close location to the Mends Street retail and entertainment precinct.

“South Perth has long been one of Perth’s premium fringe office markets, thanks to its proximity to the CBD and the river, but quality new commercial space in that core Mends Street precinct is rare,” Mr Munckton said.

“This development will set a new benchmark for the areas as it moves towards the City of South Perth’s vision of becoming a major residential and commercial hub.”

Todd Schaffer of Knight Frank and James Baker at Realmark Commercial will handle the sales campaign for the development.