18/03/2021 - 14:00

Oxford St site sells for $9m

18/03/2021 - 14:00

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The former Midway Taxi site in Mount Hawthorn has sold for $9.1 million, the latest in a series of property sales and developments along the city fringe.

 Oxford St site sells for $9m
The site had been held by the same family for almost 35 years. Photo: Burgess Rawson

The former Midway Taxi site in Mount Hawthorn has sold for $9.1 million, the latest in a series of property sales and developments along the city fringe.

Burgess Rawson brokered the deal to an international investor with local ties to the Perth market.

The buyer’s exact identity was undisclosed.

The 2,914-square-metre property was previously owned by the same family for almost 35 years, with the site zoned as District Centre, allowing for the development of multiple storeys.

The land had sat vacant for several years and Burgess Rawson manager Luke Randazzo said it was one of the last underdeveloped sites on the strip of its size.

Burgess Rawson said its sales campaign attracted more than 50 enquiries and multiple offers.

“The future development of the site will greatly assist with the activation of the Scarborough Beach Road/Oxford Street Entertainment Precinct which has become one of the busiest and most vibrant high streets in Perth.” Burgess Rawson director Chris Tonich said.

The deal follows another city fringe sale along Beaufort Street.

State Property Advisory director Paul Samuels recently disclosed the sales price of 521-525 Beaufort Street, formerly home to the Empire Furniture warehouse.

The site, which sold for $3.6 million, had been in the same ownership for 40 years.

“This is the largest sale in the tightly held Beaufort Street Highgate inner city precinct in recent years with substantial interest and multiple offers received from a wide cross section of buyers including owner occupiers, investors and developers,” Mr Samuels said.

“The last highest recorded sale in this precinct was 450 Beaufort Street situated on a larger site that sold for $4,500,000 in 2012 where we acted on behalf of the buyer.”

The operators behind Fremantle’s Old Synagogue plan to redevelop 521-525 Beaufort Street into a hospitality venue.

Mr Samuels said those plans would complement developments starting to take shape in the neighbourhood.

That includes Barry Baltinas’ CHALLIS project at 539 Beaufort Street, where construction has started.

The $29 million eight-storey project will feature 26 apartments, two office tenancies, four retail spaces and a refurbished drycleaners shopfront.

Nearby, close to the Astor Theatre, Tim Willing’s proposal for an apartment building on Field Street recently received development approval.

The project is Willing Group’s second under way in the area, adding to its Clifton & Central mixed-use development down the road.  

Also under construction in the area is Nicheliving’s Sky Homes at 938 Beaufort Street.

And planned for the opposite end of the Beaufort Street strip, Serneke Australia and a private developer have plans for BOHO (Beaufort House), a 20-apartment development, which will be mostly constructed from prefabricated timber.

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