Indonesian-backed Golden Group is preparing to launch the sales campaign for apartments in the first tower at its multi-billion dollar Belmont Racecourse redevelopment.
In the same week that the WA Cricket Association halved the size of the first apartment tower slated for its redevelopment of the historic ground, Golden Group has revealed it will finalise the design of the first tower at Belmont by June.
If construction goes ahead along the lines of Golden Group’s current proposal, the site will support Perth’s tallest apartment tower, more than 50 storeys.
The WA Planning Commission scrapped its 30-storey height limit for the site in March on the strength of advice from the Office of the Government Architect and the City of Perth.
The total plan for the site includes up to eight mixed-use towers with as many as 4,500 apartments, as well as more than 30,000sqm of retail space and 60,000sqm of office accommodation.
It’s an ambitious plan that by current measures is the second biggest development proposal in Australia, behind the City of Sydney’s massive redevelopment plans for Barangaroo between the King Street Wharf and Walsh Bay in Darling Harbour.
WACA developer Ascot Capital this week revealed it had halved the size of the first apartment tower for the WACA site to keep the project on track.
However, Ascot director Greg King said the reduction in the size of the first apartment tower would not affect the scale or size of the following stages of the project.
“Nothing has changed in the overall scheme, the next stage would be over on the current practice wicket and that’s a significantly larger stage than what we have now,” he said
“We have 540 or so residential apartment rites over the site and 30,000sqm of commercial, so it’s really just a question of how we break that down.”