Liberal National Government investment in Elizabeth Quay project continues to pay back
Award-winning architect Kerry Hill leads design
$300 million estimated construction project to create hundreds of jobs
Concept designs have been unveiled for Elizabeth Quay's next premier hotel, residential and commercial buildings as Planning Minister Donna Faragher confirmed the sale of two lots on the western promenade.
Mrs Faragher was joined by developers CA & Associates which plans to build a hotel and apartments on the site. Concept plans are the result of an international design competition for the development which was won by architect Kerry Hill.
The winning design includes two towers comprising about 300 residential and 170 short-stay apartments, a hotel and a range of dining and retail options. CA & Associates plan to submit a version of the design for development approval.
"Elizabeth Quay continues to attract the best Western Australia has to offer - internationally renowned architects and artists, premium restaurant operators, highly experienced developers and some of the highest land sales on record," the Minister said.
"With an estimated construction value of $300 million, and a substantial injection in job growth, this development will continue Elizabeth Quay's role as an important economic driver for the State.
"I would like to congratulate Kerry Hill and his team on their approach to design which maximises public access via walkways, a ground-floor plaza, art museum and viewing deck; features that will be enjoyed by the millions of annual visitors to our city.
"Elizabeth Quay was always intended to showcase Perth on a national and international stage and these attractions offering sweeping views of Kings Park, the Swan River and Rottnest Island will go a long way to achieving that objective."
CA & Associates will pay $85 million for the two sites, keeping the project on track to return well over half of the Liberal National Government's initial $440 million investment.
"There continues to be strong interest in investment and business at Elizabeth Quay which has shaped the timing of the release of the last remaining lot which will go to market next week," Mrs Faragher said.
CA & Associates is a collaboration between AAIG Pty Ltd led by Victor Goh and the Fini Group. Subject to development approval, construction of the new Elizabeth Quay development is expected to start in late 2017
Lot 4, the last remaining Elizabeth Quay lot available, on the corner of William Street and The Esplanade, will be released to the market on October 4, 2016
Minister's office - 6552 5300