Hesperia has emerged as the leading proponent to redevelop two major car parks, which covers more than 12,800 square metres of land in Leederville.
The City of Vincent is proposing to enter a major land transaction with Hesperia for The Avenue and Frame Court car parks.
Frame Court car park is on the southern-most end of Oxford Street behind a small public park while The Avenue car park is on the western side of Oxford Street, behind Good Grocer Leederville IGA and adjacent to the Mitchell Freeway and northern Joondalup rail line.
According to the council briefing agenda, The Avenue carpark site allows for developments of up to 18 storeys or 23 storeys if bonus criteria was met, under the city’s Leederville Precinct Structure Plan.
The structure plan also identified a height standard of 10 storeys for developments at Frame Court car park, which could increase to 14 storeys subject to bonus criteria being met.
The council agenda said the heads of agreement would not be a binding agreement to sell or undertake any redevelopment of the land with the city needing to comply with obligations under the Local Government Act before the transaction can proceed.
In December 2021, the City of Vincent announced its plan to turn The Avenue and Frame Court car parks, which provide 400 parking bays, into mixed-use sites.
An aerial of The Avenue and Frame Court car parks. Photo: Cygnet West
The city received eight submissions as part of an expression of interest process, facilitated by Cygnet West, and drew up a shortlist of three proponents.
Discussions surrounding the shortlisted proponents had been confidential but the full list of submitters was published in an October council document.
ABN Group, Australian Development Capital, Axiom Properties, Blackoak Capital Ventures, Cedar Woods, Hesperia, Mirvac, and Urban Flux submitted expressions of interest to redevelop the carparks.
In May, the city chose its preferred proponent but did not disclose that it was Hesperia at the time.
Hesperia director Kyle Jeavons said the proposal would carefully introduce a sustainable and balanced level of residents, workers and visitors into the Leederville Town Centre.
“We have been very deliberate in ensuring there is not a dominant new use or activity in the Town Centre, and have made allowance for future development opportunities to ensure that Leederville remains a place that offers something for everyone,” he said.
Hesperia director Rowan Clarke said the development committed the company to work closely with the city.
“We are proposing a phased development programme that requires an integrated approach to both sites, and which at all times maximises available public parking to maintain Leederville’s status as an accessible local centre,” he said.
Cygnet West head of agency Ian Mickle said the sales campaign was fiercely contested and attracted a cohort of large-scale local and national developers, highlighting the enormous development potential of the carpark sites.
“The successful proponent will have a fantastic opportunity to contribute to the vibrancy and diversity of Leederville with an inspiring mixed-use project," he said.
According to Hesperia, the development team would enter more detailed discussions with the city to progress the carparks proposal.
Hesperia was also involved in the ABN Office Building/Leederville Hotel precinct project.
The city council will consider the proposed major land transaction with Hesperia at its upcoming meeting.
