Far East wants Perth Hub builder

Far East Consortium has put an end to speculation that it had shelved its $300 million Perth Hub, putting out a call for a builder for the first stage of the project, which will comprise 314 apartments in a 32-storey tower.

Earlier this year, the Hong Kong-headquartered development giant was forced to restate its commitment to the project following media speculation it had placed it on the backburner after the introduction of Western Australia’s foreign buyer surcharge on residential property.

Prior to the introduction of the tax, Far East Consortium had received commitments to purchase more than 100 apartments at Perth Hub in its first three months of marketing.

At the time, Far East Consortium executive director Craig Williams said construction would start on the project in accordance with a successful pre-sales campaign, in line with typical industry practice.

This week, Far East Consortium announced invitations to tender for the first building of the two-tower project, which will also include a 23-level, 263-room Dorsett Hotel.

The Perth Hub project will also include a comprehensive hospitality component, with a large format restaurant and retail tenancies part of the plan.

“Above all, we want a partner who will provide only the highest quality of work down to the finest details,” Far East Consortium WA state manager Dan Sweet said.

“We will be looking for a builder with a proven track record.” 

Mr Sweet said the tender process would take around six to 10 weeks to complete, with a preferred partner to be announced before the end of the year.

Construction is expected to start early next year, replenishing Far East Consortium's WA pipeline of works following completion of the $500 million Ritz-Carlton and The Towers project at Elizabeth Quay.