Dec
15
Leighton Properties and Mirvac Group Win Perth City Link Project

Michael Barr 15 Dec 2013

Western Australian Planning Minister John Day today announced a 50:50 joint venture between Leighton Properties and Mirvac Group as the preferred developer for the highly anticipated Perth City Link project.

The Leighton Properties and Mirvac proposed master plan, with contract signing anticipated in 2014, is part of the wider $5.2 billion Perth City Link project.

Mark Gray, Leighton Properties Managing Director, said Leighton Properties and Mirvac shared a common vision with the State Government for Perth City Link.

Mr Gray said: “The consortium’s combined capabilities and experience positions us well to deliver a large, complex project of this magnitude. For Leighton Properties this means development delivery as well as the provision of public and private infrastructure in a staged and coordinated manner for the future benefit of the city and State.

“Perth City Link will link the Northbridge entertainment area with the CBD, and deliver a contemporary, integrated mixed-use environment accessible to locals and tourists alike.

“Perth City Link fits perfectly with our strategic focus of developing urban infrastructure that is high quality, innovative and sustainable in city centres around the nation.”

David Rolls, Mirvac Chief Executive Officer – Commercial, said Mirvac was very excited to have been named in joint venture with Leighton Properties as the successful consortium for one of Perth’s most significant CBD urban redevelopment projects.

Mr Rolls said: “The leadership taken by the WA Government and the Metropolitan Redevelopment Authority to develop the Perth City Link will revitalise Perth and is designed to reconnect and complement the surrounding areas whilst providing a seamless integration with the adjoining transport nodes.

“This is the fifth joint venture between Leighton Properties and Mirvac. As a result, we have a strong proven track record of working together.

“The Perth City Link project is a prime example of Mirvac’s strategy of focusing on core, large-scale urban renewal projects, and demonstrates the strength of Mirvac’s integrated development expertise and the benefits of the Group’s core capability of delivering quality mixed-use projects.”

The regeneration of the 13.5 hectare site will draw billions of investment dollars into Perth through a vibrant mix of new transit, office and retail zones, public spaces and living environments. Construction of the Leighton Properties/Mirvac development is anticipated to start in 2015.

WA Planning Minister John Day said the Perth City Link project was a major component of the State Government’s vision to transform Perth and welcomed the partnership with Leighton Properties and Mirvac.

Minister Day said: “Perth City Link will fundamentally change the way many Western Australians engage with our city. It will provide new residences and places of work for thousands of people and will be a place for people to enjoy events, public art and open spaces in the heart of the city, connect with public transport and businesses or simply pass through the area to Northbridge and the Perth Cultural Centre.”

In preparation for the redevelopment, a number of major works form part of this project including relocating the Wellington Street Bus Station underground, completing construction of the Perth Arena and sinking a section of the Fremantle rail line from the Horseshoe Bridge to King/Lake Streets.

Upon completion, Perth City Link has the capacity to be home to 1,200 new apartments catering for a residential population of approximately 3,000 people.  The project will also create approximately 150,000 square metres of office and retail space providing opportunities for 13,500 new workers.

Perth City Link will play a key role in addressing transport and infrastructure needs while meeting the changing needs of an evolving city. The precinct will boast a number of distinctive urban spaces including City Square, King’s Square, Queen’s Square and Milligan Bridge Plaza. 

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Michael Barr

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