Sorrento sites sold for $10m to be apartments
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Two commercial sites on West Coast Drive in Sorrento were sold to Megara for $9.75 million last month, and are set to be developed into luxury residential apartments.
The combined landholding of 2,477 square metres, which equates to $3,936 per square metre, is the current location for dining venues Voyage Kitchen and White Salt restaurant, among other commercial and office tenancies.
Voyage and White Salt will be given first options to remain at the re-developed site, according to Axia Corporate Property, which introduced the properties to the buyer.
The sites are located at 130 and 134 West Coast Drive, and are 1,685 square metres and 792 square metres, respectively.
It is located one kilometre from Sorrento Quay, and Axia said all apartments will have unrestricted, ocean views and glimpses of Rottnest.
Axia said the site will be developed into luxury residential apartments, with commercial and retail tenants to occupy the ground level.
Axia consultant John Garland said the property offers an excellent opportunity for Megara to create an iconic, one-off residential and commercial product in Sorrento.
Megara director Chad Scott said the future development will be designed to embrace Sorrento’s coastal location and highly desirable community attributes.