Big names on 140 William Street shortlist

Leighton Holdings Ltd, Grocon, LendLease Corporation Ltd and Multiplex Group have been announced as the short-listed developers for 140 William Street, above the new undergraound rail platform.

Leighton is in a joint venture called Evolution Consortium with Australian Super Developments, the development wing of Cbus, the $7 billion industry superannuation fund that originated in the construction, building and allied industries.

LendLease is in a consortium with Australian Prime Property Fund and Multiplex is represented by Multiplex Developments Australia.

Below is the full announcement:

Short-listed developers for 140 William Street site announced.

The State Government has announced the short list of preferred developers for the 140 William Street site.

The 140 William Street site is bounded by Forrest Place and Murray Street Mall and is located in the city's retailing heart above the new underground platforms of Perth Station on William Street.

Planning and Infrastructure Alannah MacTiernan said short-listed proponents were selected from an extremely competitive field made up of some of the nation's foremost developers.

"When the State Government released an expression of interest for the purchase and redevelopment of the site in late September, it provided the opportunity for a developer to come in and create a mixed-use development which could invigorate the retail heart of Perth," Ms MacTiernan said.

"Positioned above an active railway station accommodating more than 50,000 passenger movements a day, the development is central to a broader vision for the City of Perth, with the State Government already committing to a new Performing Arts Centre, the Northbridge Link project and a revitalisation of the Perth foreshore.

"Development of the site will also bring important flowthrough benefits to the Western Australian economy through its construction and ultimate tenancy in 2009."

Expressions of interest for the development closed on October 31, with short-listing of preferred proponents taking place during November.

"During the selection process we were looking for developers who could deliver a high quality outcome for the State, based on their experience and excellence in design of this scale," the Minister said.

Housing and Works Minister Fran Logan said the pre-commitment by the State Government, to lease 22,000m2 of space for Government offices within the William Street development for a 15-year period, was integral to developer interest for the site.

"The 140 William Street site is one of those rare opportunities to create a benchmark inner city development," Mr Logan said.

"I have no doubt that the pre-commitment by the State Government was a major factor in the strong national interest for the site.

"It is expected that all short-listed proponents will be required to incorporate a range of sustainability principles into their detailed submissions at RFP stage.

"The RFP process will also enable the State to determine whether the Albert Facey House leasehold will form part of the development options on the site."

From the 11 submissions received, four developers were selected to participate in the next stage of the process.

The selected developers were:
Evolution Consortium;
Grocon;
LendLease Corporation Ltd/Australian Prime Property Fund; and
Multiplex Developments Australia.

A detailed Request for Proposal document is expected to be issued to each short-listed developer in February 2006.

The final decision on the successful proponent is expected in the second half of 2006 with the anticipated date for the completion of the development expected by 2009.

The project is being managed by a cross-agency steering committee which comprises senior representatives from the WA Planning Commission, the Department for Planning and Infrastructure, the Public Transport Authority, the Department of Housing and Works, the State Solicitors Office, the Department of Treasury and Finance and LandCorp.