Perth City Link to create commercial property opportunities
Perth boasts one of the tightest commercial property markets in the country, with demand ...
Perth boasts one of the tightest commercial property markets in the country, with demand outweighing availability significantly.
With this in mind, those on the lookout for real estate in the Western Australian capital may be interested in a multimillion-dollar infrastructure project which is set to create a number of commercial office property opportunities in the region.
The Perth City Link project, which is due for completion by 2014, is expected to release land in the CBD for the purpose of future developments.
"Once completed, this redevelopment will make Perth an even more productive, sustainable and liveable city," federal minister for infrastructure and transport Anthony Albanese said after visiting the site yesterday (November 8).
"In particular, sinking the Fremantle line will reunite the business district with the Northbridge entertainment precinct, and open up some 50,000 square metres of land for new retail, commercial and residential developments."
The $360 million dollar project will mean that travelling around Perth by train will become significantly easier, with the city's station earmarked for several major upgrades including the construction of a new platform and a pedestrian underpass.