A leading property trio has set eyes to build an 18-storey apartment building valued at $22.8 million on a Nedlands site.
A leading property trio has set eyes to build an 18-storey apartment building valued at $22.8 million on a Nedlands site.
Town planners element, on behalf of landowner Hot Sand Capital, has lodged an application for the proposed development on four lots on 37-43 Stirling Highway with the City of Nedlands.
Australian Securities and Investments Commission documents listed the directors of Hot Sand Capital as David van der Walt and Greg King, from Ascot Capital, and Stephen Lauder, from Facilimate.
The proponents plan to build an 18-storey building comprising 75 apartments and seven commercial tenancies, including an art gallery, cafe or restaurant, an office and a retail shop.
A 1,129 square metre communal open space has also been proposed, to house a plaza or ampitheatre, a children’s play area, community garden, residential lounge and pool, and a gym.
The application is expected to be determined by the Metro Inner-North Joint Development Assessment Panel after the city prepares its responsible authority report.
Ascot Capital sold Jandakot Airport to Dexus for $1.3 billion in September, making it one of the largest property transactions in Western Australia.
Mr Lauder's private company Facilimate is an operator and investor in hotel businesses, and invests through a joint venture with Ascot Capital.
According to element’s application, the development benefits from access to bus routes and being nearby to the QEII and University of Western Australia specialised activity centre.
The application said the development's design aimed to relect the "leafy green character" of Nedlands.
"Notably, a biophilic 'greenheart' has been incorporated within the design of the building. The inclusion of vertical greening between each building level visually anchors the building to the ground," it said.
The "greenheart" will be a landscape feature in the centre of the site, next to the user amenity spaces.
The proposal is advertised for public comment on the city’s website until June 17.
