Cedar Woods Properties' bid to redevelop land surrounding the Swanbourne train station has progressed, but further details over development scope and scale are yet to be disclosed.
Cedar Woods Properties' bid to redevelop land surrounding the Swanbourne train station has progressed, but further details over development scope and scale are yet to be disclosed.
The group has lodged a concept plan for a transit-oriented development on what it said was underutilised land surrounding the Swanbourne train station, via the state government's Market-Led Proposals (MLP) process.
The MLP initiative encourages unsolicited proposals from the private sector to government in relation to: purchasing a government-owned asset; building or financing infrastructure; or providing goods and services.
Cedar Woods recently announced via the ASX that it had been invited to stage two of the MLP process; if considered feasible, the state government will then provide Cedar Woods a first-mover advantage in the future selection of a developer for the project.
The proposal is subject to further analysis of the rail corridor and a state-run masterplan process.
Cedar Woods did not disclose any further details about its proposal in response to enquiries by Business News.
Business News contacted the state government for further comment.
While Cedar Woods has largely operated as a greenfields land developer in Western Australia, it has started to target medium-density development in urban infill locations.
This includes a project on the former TAFE site in Subiaco, where the group plans to develop a series of townhouses.
If successful in the MLP selection process, the Swanbourne project would add to Cedar Woods’ national pipeline of more than 8,400 dwellings and lots, with one quarter of these mixed-use projects featuring apartments and townhouses.
“The company is looking forward to showcasing these skills in WA and is committed to working with authorities and the local community should it be successful in the subsequent stage of the MLP selection process,” Cedar Woods managing director Nathan Blackburne said.
Cedar Woods said a key component of its concept is to integrate a mixed-use project with the state’s planned infrastructure investment, including the Congdon Street Bridge replacement.
In its MLP, Cedar Woods listed anticipated project benefits, including: delivering on Metronet policy objectives; meeting strong demand in Perth’s western suburbs for alternative housing options; better connection and integration of the southern and northern sides of the Swanbourne Village; and generation of significant private investment and local employment.
Earlier this year, Georgiou Capital was chosen as the preferred proponent to redevelop and buy the Landgate building in Midland via the MLP process.
There are several other problem and opportunity statements under the MLP program waiting assessment, including seeking investment to support a 50,000-hectare expansion of WA’s softwood plantation estate.
At the time of writing, Cedar Woods’ shares were up 3.23 per cent at $7.34 per share.
