THE City of Melville has granted approval for Mirvac Fini’s $40 million development along the Canning River in Mount Pleasant.
The luxury development is to include a four-storey residential building, which will house 32 apartments fronting The Esplanade, and eight multi-level office/residential units facing Kishorn Road.
Mirvac Fini bought the prime riverside 7,388 square metre site, located near Multiplex’s Raffles Hotel redevelopment site, from Perth investor Charles Westrip for an undisclosed amount.
The land was already subject to a development approval, which Mirvac Fini reworked to meet its standards.
Mirvac Fini development director Brett Draffen said there was a shortage of appropriately zoned riverside land in the Applecross and Mt Pleasant area.
“It is one of the last riverfront sites with R50 zoning,” he said.
Mr Draffen said that, to date, there was no plan to release the apartments off the plan and expected construction to start in October.
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