The Town of Victoria Park’s Albany Highway is undoubtedly Perth’s most iconic high street, featuring culturally diverse food and hospitality, an array of shops, visual interests, and great transport connectivity that consistently brings people to the area and helps support and sustain local businesses.
Its location offers existing connectivity and integration to nearby destinations, including the Perth CBD, Burswood, Optus Stadium, and Curtin University.
The popular strip is now ready for significant growth and change underpinned by updates to the Town’s Local Planning Scheme and the Albany Highway Precinct Structure Plan.
With the addition of Vic Quarter and plans to provide more high-density, mixed-use and residential development in the area through the Albany Highway Precinct Structure Plan, Albany Highway is perfectly positioned to accommodate new residential and commercial development.
The Albany Highway Precinct Structure Plan, which is currently with the Western Australian Planning Commission for final approval, provides a number of exciting opportunities for investment.
The Plan is focused on supporting the Albany Highway precinct to continue growing as a distinct, sustainable, and vibrant place with a strong local focus and regional appeal.
Mayor Karen Vernon notes that the Plan fosters a diverse mix of commercial, residential and community land uses that will not only reinforce the Highway’s status as a premier activity centre, but allows developers to capitalise on the Town’s youthful, growing and diverse community.
“The Plan not only allows for further uplift development potential, but increased land supply and yield potential with more financial upside for ambitious investors,” Mayor Vernon said.
“We have eight designated major sites offering redevelopment potential, with up to 32 storeys possible on key sites; and there is planned growth of 8,345 dwellings and 491,000m2 of commercial NLA.
“There are also plans to improve pedestrian and bike infrastructure, upgrade bike lanes and shared streets to create 24/7 connectivity, and offer more flexible carpark options to enhance the live-work-play appeal of the area and increase value for buyers and developers.
“The Albany Highway precinct already plays a vital role as both a critical transport route and regional activity centre that offers locals and visitors access to a diverse and inclusive range of amenities, services and job opportunities, and this will further enhance our reputation as a vibrant and well-connected precinct.”
Mayor Vernon observed that the Albany Highway Precinct Structure Plan creates incredible opportunities for developers, with high-yield flexible zoning allowing for ambitious mixed-use and high-rise developments in the area.
“The precinct’s coding as R-AC0 and extensive-mixed-use and District Centre designations means developers can now look to build multi-level retail, office and residential offerings with few constraints,” said Mayor Vernon.
Someone who has already seen the benefit of development opportunities in the Town of Victoria Park is Celsius Property Group, the developer behind the successful Vic Quarter development.
“One of the things that attracted us to the Vic Quarter development was the ideal timing for this location, particularly following the revitalisation of Albany Highway, opening of Optus Stadium, redevelopment of the Crown Entertainment Complex, and the expansion of Curtin University,” said Richard Pappas, Managing Director of Celsius.
“Since its establishment in 2019, Vic Quarter has delivered a transformational mixed-use development that has been greatly welcomed by residents and the broader local Victoria Park community alike.”
Mayor Vernon says this is a transformational time in the Town of Victoria Park’s history, with a number of new development applications already underway.
“The Albany Highway Precinct Structure Plan is set to further enhance the unique identity that underpins the Town’s objectives for the future and offers further opportunities for investment and collaboration.
“It will allow us to further enhance local ecology, expand public open space, improve walkability, support active transport and encourage innovative and sustainable development that complements the precinct’s existing character.”
With so much growth and development opportunity planned for the future, now is a great time for investors and developers to become part of the transformation of the Albany Highway precinct.
To find out more, contact the Town of Victoria Park on (08) 9311 8111, email business@vicpark.wa.gov.au, or visit https://www.victoriapark.wa.gov.au
