A premier development opportunity in the Perth suburb of Morley has been listed by CBRE.

Spanning more than 4000 square metres, the "high-profile corner" incorporates 231-235 Walter Road West, 49 Russell Street and 4 Lovegrove Way. 

CBRE’s Geoff Fraser and Ben Younger have been appointed to market the sale of the 4,239sqm site in Morley’s commercial and retail precinct, in conjunction with  Ian Fraser from Ian Fraser & Co.

At a glance:

• High-profile corner in the Perth suburb of Morley listed for sale with an asking price of $4.9 million.
• CBRE’s Geoff Fraser and Ben Younger have been appointed to market the sale, in conjunction with  Ian Fraser from Ian Fraser & Co.
• Price equates to $1,225/SQM.

The sale coincides with a period of major growth in Morley, with the area projected to evolve into a vibrant community of more than 10,000 people in the next decade. 

Mr Fraser said the property’s location would attract buyer interest from commercial and residential developers, as well as owner occupiers redeveloping the site to suit. 

“This site represents an important part of the Morley City Centre, which is anticipated to grow into a lively and bustling place for business and shopping, with a vibrant community life,” he said.

“We see this development site as playing an important role in the exciting and unique future of this area.”

Offering triple road frontage, including truncations of over 180m, the property currently houses a former dental clinic, home/office and other buildings.

Mr Fraser expected the site to benefit significantly from the transformation of its surrounds.

"Development of the Galleria Shopping Centre, combined with Progress Street being the area’s new main street and the enhanced Morley Bus Station will create even greater efficiency and convenience that will bring together the best in urban living,” he said.

The property is being offered for sale with an asking price of $4.9 million plus GST.

Source: CBRE

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