The twin-title lot at 194 The Esplanade and 5 Brighton Road occupies a prime north-west corner and offers uninterrupted views across the Indian Ocean and Brighton coastal reserve.
The site is within the state-government supported Scarborough Redevelopment Authority area and offers significant potential for high-density residential and mixed-use development under ‘Beach Front Precinct’ zoning.
CBRE’s Derek Barlow and Aaron Desange have been appointed to manage the sale campaign, with Expressions of Interest invited before June 29.
“Sites offering the opportunity for panoramic ocean views from the podium level of development – combined with the ability to step out onto the beachfront – are certainly rare, so we expect considerable interest given the current strength of the Perth premium apartment market,” Mr Barlow said.
“Capital values across Scarborough’s apartment market have risen even more sharply than in the Perth metropolitan region, with median unit values growing 15.2% over the past year.
“Given Scarborough’s attractive lifestyle drawcards and endless amenity, the area is expected to continue being a popular place to live, work and play.”
The lot features a 22m frontage on The Esplanade and a further 40m on Brighton Road, and is a stone’s throw from popular cafés, restaurants and bars.
“An asset of this nature, with tremendous development upside and situated on an iconic beachfront location, is set to generate great interest from investors looking to secure a part of the highly coveted, premium southern pocket of the Scarborough Beach precinct,” Mr Desange added.