Suitors line up for Riverside project

Mirvac, Lend Lease Development and Brookfield Multiplex with Frasers Property Australia have been shortlisted to develop four hectares of riverfront land as part of the state government's $450 million Riverside project.

The East Perth Redevelopment Authority shortlisted the three firms to prepare development proposals, which will be assessed on design, destination and sustainability criteria.

EPRA will identify the successful developer by mid 2011.

Mirvac's Western Australia chief executive, Evan Campbell, said: "we look forward to the possibility of working closely with the Western Australian government on this major redevelopment opportunity which will be an important project for our city."

The entire Riverside project extends across 40 hectares and is expected to attract more than $2.6 billion in private investment, with an initial state government investment of $113 million

The project includes works currently underway by Frasers Property and Diploma Group on the former East Perth Bus Depot site.

Diploma and Frasers were awarded a $110 million contract in January this year for the construction of 288 apartments and townhouses, commercial space, a new retail precinct and a luxurious apartment hotel.

EPRA's full announcement is below:

Three groups will compete for the chance to transform four hectares of rare river front land at the eastern gateway to the Perth CBD, as part of the State Government's Riverside project.

Mirvac, Lend Lease Development, and Brookfield Multiplex Constructions with Frasers Property Australia have been shortlisted from a competitive field following an expression of interest campaign, launched by EPRA in July 2010.

The three groups will now prepare detailed proposals for EPRA outlining their plans for the site which will be assessed against evaluation criteria including design excellence, destination creation and high quality sustainability outcomes.

The successful group will be identified by mid 2011.

EPRA acting chief executive Sean Henriques said EPRA was pleased with the calibre of expressions of interest received for the project, which attracted local, national and international attention.

"The quality of the companies shortlisted reflects the high-profile development opportunity offered at the Riverside site," Mr Henriques said.

"All of the shortlisted companies have extensive experience and a proven track record in delivering integrated developments of the scale required for Riverside.

"The four hectare riverfront site will incorporate new residential, hotel accommodation, retail and commercial developments, as well as public open spaces, jetties and waterways that connect people with the Swan River," said Mr Henriques.

"The successful proponent will be required to demonstrate they can create a new waterfront destination for Perth, with outstanding design and inviting public places for the people of Perth to enjoy.

"EPRA's Riverside project will transform the eastern gateway to the city integrating existing icons such as the WACA, Gloucester Park and Trinity College, with sustainable new development to create a vibrant inner city precinct and tourist destination," said Mr Henriques.

The entire Riverside project, which extends across 40 hectares at the east of the CBD, is expected to attract more than $2.6billion in private investment on State and privately-owned land, from an initial State Government investment of $113 million.

The Riverside project is part of the State Government's urban regeneration program for Perth, which includes other major projects such as the Perth City Link and Perth Cultural Centre.