22/04/2021 - 16:06

Vic Park: The Vendor for Valuable Investment Opportunities

22/04/2021 - 16:06

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The Town of Victoria Park is a dynamic place for everyone, including investors and developers. Located just minutes from the Perth CBD, it is quickly becoming one of the largest centres for growth and development in Perth, with an array of high value sectors and places. These include a buzzing world class entertainment precinct at Burwood Peninsula, a knowledge and innovation hub in Bentley, and the ever-expansive retail and hospitality backbone in East Vic Park and Vic Park.  To learn more about the Town’s places and sectors, please visit the dedicated Invest Vic Park Website.

It is with no surprise that this high-potential environment has caught the eye of numerous investors, resulting in many new developments which now call Vic Park home. From residential development such as The Crest, and the multi-million-dollar Lathlain Precinct upgrades, to the public realm and streetscape improvements of the Archer/Mint Streetscape Plan - Vic Park is seizing every opportunity to grow. 

The Crest

Burswood Peninsula, home to the world class Crown Perth, Optus Stadium and Burswood Park, is one of the most highly visited areas in WA. The Crest Burswood, a key residential development on the Peninsula, is a short walk away to all these incredible amenities. It’s truly iconic to others yet home to their residents.

In choosing the location for the development, CEO Leroy Lee said,

“The Burswood area has always held its values as a premium location and The Crest’s proximity to the train station, stadium and city cements its position as an enviable address.”

The Crest's facilities include a rooftop cinema, heated lap pool, barbeque dining bars and an outdoor herb garden with unbeatable panoramic views of the City’s skyline. Living at the Crest ticks all the boxes for convenient inner city living at its best!

The Town of Victoria Park is currently updating the planning framework for Burswood Station East, to facilitate further development of this nature, and see the precinct reach its potential as a high-quality urban neighbourhood.

Lathlain Precinct Redevelopment Project

Lathlain continues to strengthen its position as a lucrative place to develop and set up a business, facilitated by public and private investment in the Lathlain Precinct Redevelopment Project (LPRP).

The LPRP is a multi-phase, $70 million revitalisation project aimed at providing a sustainable sporting, recreation, health, and education precinct for the whole community. To deliver the project, a partnership has formed between the Town, West Coast Eagles, Wirrpanda Foundation and Perth Football Club, which aims to set new standards in the delivery of an active community sports complex, as well as lasting community benefits.

Works have been completed on the newly redeveloped Mineral Resources Park and newly constructed Lathlain Park. The next stage is the redevelopment of the Perth Football Club, which has already seen an investment commitment of $4 million by the State Government and another $4 million by the Federal Government.

Archer/Mint St Streetscape

Archer/Mint Street is an important urban corridor in the Town that will experience substantial changes over the next 10 years. With significant investment expected by the State Government at Carlisle station, along with a thriving business community, the nature of the street will continue to rapidly evolve.  

A concept design was endorsed in September 2020, aiming to create a more vibrant street and commercial environment, with improvements to walkability, shade, tree canopy, safety, and accessibility. The project is now undergoing detailed design for phase one- Carlisle Town Centre on Archer Street. The State Government has seen the value in the upgrade and has committed over $800,000 to progress protected bike lanes along Mint and Archer Street over the next two years.

These projects are just a few examples of the Town’s future investment in revitalising places for greater community use and benefit.   The Town has a myriad of these projects ranging from large scale - such as the Macmillan Precinct Masterplan, to smaller scale- such as the Old Spaces New Places program.  To find out more about these investments and others in the Town, head to our Explore Investments section.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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