08/01/2008 - 15:39

Jones Lang snares Subi Centro sales contract

08/01/2008 - 15:39

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The Subiaco Redevelopment Authority has appointed Jones Lang LaSalle as the new sales agent for the Subi Centro urban renewal project, after a competitive public tender process.

Jones Lang snares Subi Centro sales contract

The Subiaco Redevelopment Authority has appointed Jones Lang LaSalle as the new sales agent for the Subi Centro urban renewal project, after a competitive public tender process.

The SRA said the two-year contract was awarded to JLL due to their demonstrated strategic approach to partnering, strong state and national networks and excellent track record with similar projects.

SRA chief executive Tony Morgan said JLL offered a multi-disciplinary team who would work closely with it to strengthen relationships with investors and contribute to the achievement of high-level project objectives such as sustainability and housing diversity.

"The Subi Centro project is of national significance and whilst we are in the final phases of redevelopment, some of the most significant real estate is yet to come to the market. The 4.2 hectare former Australian Fine China factory site, now called China Green, will be an exciting mixed-use redevelopment with stage one to be released later this year."

JLL joint managing director (WA) Nick Stanisis said Subi Centro's premium location in the established cosmopolitan community of Subiaco had captured the imagination and long-term commitment of residents, investors and a broad cross-section of commercial business owners.

"Jones Lang LaSalle is excited to work with the SRA, on arguably one of the state's most sought after commercial land residential destinations, to supply the ongoing demand for high quality inner-city property."

The Subi Centro project is transforming 80 hectares of former industrial land in Subiaco into a sustainable inner city community.

On completion, the project will be home to up to 2,000 new residents in 900 new dwellings and will have provided approximately 90,000sqm of new commercial and retail space.

The centrepiece of the project has been the creation of the civic hub known as Subiaco Square, incorporating new shops, restaurants, cafés, speciality stores and the Subiaco train station.

As one of the final pieces in the Subi Centro project, China Green promises to add further vibrancy to the local community and will capitalise on and link with Subiaco's existing facilities to create a new mixed-use community.

Community comment is currently being sought on the project.

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