AFTER much speculation over which property developer would secure the Luna shopping centre site in Scarborough, site owner CCI Group has announced that Stockland has won the right to develop the sought after beachfront property.
Prior to the August 19 announcement, the front runners for the multi-million dollar project were believed to be Cape Bouvard, Multiplex and Australand.
CCI Group director of investment Daniel Correia said Stockland had been involved in the three-month process from the start and that for some reason other contenders had ruled the company out of the running.
“We believed that Stockland put the appropriate amount of work in and have confidence in their ability to produce the project outcomes we want,” he said.
Mr Correia said securing a proposal that emphasised a vision for the site, which respected the City of Stirling Scarborough Environs Area Strategy (SEAS) master plan and delivered amenity and tourism benefits to the local community was central to Stockland’s selection.
The development of the 1.7 hectare lot will be one of the largest projects in Perth and is expected to be the most significant beachfront redevelopment in the area since Observation City was built in 1986.
The Scarborough development will be Stockland’s third major apartment project, which also includes Subiaco Square and South Beach.
Whether the CCI Group is to retain an interest in the property is currently being negotiated, Mr Correia told WA Business News.
