Developer Saville Australia is about to unveil plans for its Emu Brewery site. which is likely to feature a total of 1,000 apartments housed in three of the city’s tallest residential towers.
Developer Saville Australia is about to unveil plans for its Emu Brewery site. which is likely to feature a total of 1,000 apartments housed in three of the city’s tallest residential towers.
Bordered by Mounts Bay Road and Spring Street, the 18,017 square metre former Westpoint-owned site was purchased by Saville Australia and investment bank Babcock & Brown for $48.8 million in July.
Saville Australia director Peter Kavanagh told WA Business News the group was finalising its design with Sydney-based architects Crone Robinson over the next two weeks for three residential towers of between 30 and 35 storeys, in addition to a low-rise commercial development with just 7,000sqm of office space.
Saville Australia’s preliminary plans for the site comprised an office tower of between 35 and 40 storeys, with up to 30,000sqm of office space and a mix of high-rise and low-rise residential development, restaurants and a boutique brewery.
“One of the towers could be converted to commercial, but there are a few large proposals out there that can’t get pre-commitment so we can’t build in the hope of getting someone… unless we’re extremely lucky,” Mr Kavanagh said.
To be developed over three-stages, the project is expected to cost between $300 million and $400 million, depending on the requirements of each stage.
Mr Kavanagh said the design had to be right before it moved to canvass expressions of interest.
“We’re still considering a boutique brewery for the site, but if our consultants say it can’t be supported then we won’t do it,” he said.
“We definitely don’t want empty pubs down there.”
While the brewery proposal remains under scrutiny, a restaurant, two cafes, public plaza and a commercially-run gymnasium with swimming pool have a good chance to make the final plan.
Mr Kavanagh said these amenities would be surrounded by landscaped gardens and a natural spring water feature.
If the project is approved, it will take the value of Saville Australia’s existing and upcoming develo-pments to a total of $1.7 billion.
The developer has sold a number of its current projects off-the-plan, including a $185 million 32-storey Altus tower at 141 Adelaide Terrace, Saffron tower at 151 Adelaide Terrace, Qubis apartments opposite Perth Oval and Little Beach estate in Mandurah.
Perth’s East End is set to get another addition shortly, when the group releases its residential tower project, Luxxo, at 249 Adelaide Terrace.
The $54 million, 24 storey tower will comprise 75 two-bedroom, two-bathroom apartments and commercial space at ground level.
Mr Kavanagh said 20 people had already expressed an interest in apartments, ranging in price from $490,000 to $955,000.
He said 224 Altus apartments sold in four days in May, and the group expected a similar sell-out success with Luxxo.
