Hotel & Mixed Use Development Opportunity Lots 2 & 3A

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1 Hotel & Mixed Use Development Opportunity Lots 2 & 3A

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3 PERTH CITY LINK IS ARGUABLY AUSTRALIA S MOST SIGNIFICANT CBD DEVELOPMENT PROJECT, FEATURING MULTI-NODE PUBLIC TRANSPORT, VEHICULAR AND PEDESTRIAN LINKAGES, OPEN SPACES, ENTERTAINMENT FACILITIES AND MIXED USE DEVELOPMENT. Aligned east-west across the city, and connecting the CBD to Perth s vibrant entertainment district of Northbridge, the 13.5 hectare site will create a new urban precinct delivering a range of world-class residential, commercial, retail and tourism facilities. An estimated 13,500 employees and over 3,000 residents will enjoy new living, working and recreation opportunities, with the area enlivened by shops, restaurants, bars and the city s transport hub. Adaptable and active streetscapes and public areas will host major sporting and cultural events, outdoor exhibitions, markets and festivals throughout the year, in a vibrant 24-hour atmosphere.

4 PROJECT FEATURES 1 2 PERTH CITY LINK WILL EXPAND AND CREATE A VIBRANT NEW CITY CENTRE DELIVERING A RANGE OF BENEFITS TO THE COMMUNITY INCLUDING IMPROVED ACCESS AND CONNECTIVITY, INCREASED RESIDENTIAL, RETAIL AND COMMERCIAL OPPORTUNITIES AND A HIGH QUALITY PUBLIC DOMAIN. PUBLIC TRANSPORT INVESTMENT $609 million transport infrastructure works including sinking part of the Fremantle rail line, upgrading Perth Station and building a new Wellington Street Bus Station. YAGAN SQUARE Multi functional public space to accommodate up to 6,000 people for major events and public gatherings. Yagan Square will feature alfresco dining, landscaping, water features, dramatic lighting, public art and street stalls. 1 2

5 KINGS SQUARE The new street connection will emphasise the pedestrian-friendly character of the area, with bars, restaurants and late-closing shops dotted around. MILLIGAN PLAZA A pedestrian land bridge will provide an elevated view to Russell Square, the Perth Arena and Wellington Street, featuring elegant landscaping with trees, gardens and water features. HOTEL It is intended that a hotel or short stay accommodation will be delivered at the western end of the precinct adjacent to Perth Arena. PERTH ARENA WA s landmark home of live entertainment, music and sports, the 15,500 seat Perth Arena is a world-class facility. A generous external plaza will accommodate other outdoor public events. 5. THE OPPORTUNITY 6 3 4

6 THE OPPORTUNITY THE PREMIUM LOCATION OF THESE LOTS OFFERS The opportunity to make a statement in the city through delivery of a high quality hotel or serviced apartments, supported by commercial and retail uses to meet Perth s high demand for new accommodation. Proximity to the Perth Arena a 15,500 seat stadium catering to concerts, sporting and special events. Walking distance to St George s Terrace, Milligan Street, Northbridge and the CBD. Close to the quality retail experience of King Street and Perth s attractive retail core in Hay and Murray Streets. Direct access to the freeway and public transport system. Opportunity to leverage other significant public and private investment in the CBD.

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8 ROE ST BUS WAY RAILWAY RESERVE SITE DETAILS PERTH ARENA LOT 3A 2,630m 2 PUBLIC OPEN SPACE UNDERGROUND RAILWAY RESERVE LOT 2 SITE SPECIFIC BUILDING REQUIREMENTS LOT 3A SITE SPECIFIC BUILDING REQUIREMENTS MILLIGAN PLAZA UNDERGROUND BUS WAY Ground level lot area of 1,495m 2 Subterranean lot (S2) area of 2,459m 2 Maximum plot ratio: 10:1 (calculated from the subterranean lot area) Preferred land uses: - Ground floor Small scale offices Shops Restaurants/café Function centre - Upper floors Hotel Offices Serviced apartments Lot setbacks zero setback to lot boundaries at ground level Podium heights no podium is required Building height maximum 16 storeys, minimum 13 storeys 5 Star Green Star Design required Subterranean level Ground level lot area of 2,630m 2 Subterranean lot ( S3) area of 984m 2 Maximum plot ratio 7:5:1 Preferred land uses: - Ground floor Small scale offices Shops Restaurants/café - Upper floors Recreation uses and facilities Leisure Offices Hotel Serviced apartments Residential Lot setbacks zero setback to lot boundaries at ground level Building height maximum 16 storeys to Old Milligan Street 5 Star Green Star Design required Vehicle access to subterranean lot basement carpark is provided through Lot 2 MILLIGAN ST LEGEND LOT 2 1,495m 2 WELLINGTON ST 1 Vehicle Entry 2 Six Storey Podium OLD MILLIGAN ST 3 Sixteen Storey Building 4 Green Roof CHANNEL 7 WELLINGTON GARDENS CHANNEL 7 Key Landmark Building Carpark and Busway Access Subterranean Lots Primary Street Secondary Street

9 MRA PROJECTS IN CENTRAL PERTH Chinatown New Northbridge East Perth Power Station Perth City Link Perth Cultural Centre Claisebrook Village Elizabeth Quay Riverside

10 BID PROCESS PERTH, WESTERN AUSTRALIA Expressions of Interest (EOIs) will be sought for this hotel and mixed use development opportunity. Respondents must address the Evaluation Criteria set out in the EOI Document, available from the secure online data room. Access to the data room is by registration with the selling agent, Jones Lang LaSalle. Western Australia is the economic powerhouse of the country, with more than $250 billion worth of projects planned or already underway. Population growth is expected to continue to exceed the national average over the next decade. The capital city, Perth has been rated as one of the world s top 10 most liveable cities every year since It is also the metropolitan hub supporting the State s services industry and extensive regional economies. It provides an efficient local, national and international transport network and sophisticated service infrastructure for trade and tourism across the Asia-Pacific region. EXPRESSION OF INTEREST (EOI) PERTH HOTEL MARKET OVERVIEW Date* Milestone June 2014 EOI documentation available July 2014 EOI period closes August 2014 Evaluation of submissions and determination of shortlist October 2014 EOI clarification stage November 2014 Notification to the successful proponent *Dates are indicative only and may be subject to change at MRA s discretion. Over the past ten years, RevPAR growth in Perth City has been strong, increasing on average by 10.1% per annum, up from $65 in 2002 to $169 in Growth was strongest between 2006 and 2008 when the commodity sector boomed with RevPAR recording three consecutive years of double digit growth (Source: ABS). Room supply in the city has been sluggish, increasing on average by 0.9% per annum. Demand growth has been strong by comparison, increasing at an average annual rate of 3.2% and occupancy levels have increased to 84.0% at the end of 2013, up from 67.9% in 2002(Source: ABS). Against this backdrop, strong gains in average daily rate (ADR) have been achieved with growth averaging 7.7% per annum, up from $95 in 2002 to $217 at the end of 2013 (Source: ABS). As at April 2014, year-to-date average daily rate and RevPAR remain stable at A$ and A$ respectively (Source: STR Data).

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12 THE METROPOLITAN REDEVELOPMENT AUTHORITY (MRA) FOR MORE INFORMATION CONTACT MRA was established as a result of the Metropolitan Redevelopment Authority Act 2011 with the vision to create a Revitalised Perth. Our role is to transform urban spaces and meet the challenges of the city s future growth, by creating strong communities and encouraging sustainability and innovation in urban development. Through our redevelopment areas of Armadale, Central Perth, Midland and Subiaco we are creating public open spaces where people want to live, work and visit. MRA s approach involves the creative delivery of new urban communities, embracing sustainable development principles and reacquainting people with the benefits of inner-urban life. Our role as Perth s redevelopment agency enables us to transform urban spaces, creating places where people want to live, work and visit. MRA s planning approval and development powers will see the revitalisation of over 3,300 hectares over the next decade. Aaron Desange Jones Lang LaSalle t e Dan Sweet MRA, Director Sales t e The particulars contained herein including but not limited to use and dimensions are for guidance only and shall not be taken as representations or warranties by the Metropolitan Redevelopment Authority or its Agents and were prepared for the purpose of the sale and do not form part of any agreement. Any information regarding the properties which have or may in the future be made available to prospective buyers, has or will be supplied on the clear understanding that whilst every care has been taken with its preparation, no responsibility is accepted by the Metropolitan Redevelopment Authority, or its Agents or any person employed or engaged by them for the accuracy or completeness of such information and prospective buyers are advised to make their own enquiries and to satisfy themselves in all respects. *All illustrations are artist s impressions only.

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