Port Hedland developments may spark investor interest
West Australian property investors may be interested in the development of a new hotel and ...
West Australian property investors may be interested in the development of a new hotel and residential estate earmarked for the Port Hedland region.
State land minister Brendon Grylls said Landcorp would be calling for developers to take on the two major projects later this year - indicating more investment in Port Hedland.
The planned hotel and housing development are designed to improve affordable accommodation options in the area, which currently boasts one of the tightest and most expensive residential property markets.
"It's no secret there is a huge shortage of accommodation for people coming to Port or South Hedland on business or as a tourist and this hotel site will go a long way to addressing those issues," Mr Grylls said.
Announcement of the two projects is likely to attract the interest of investors, with the purchase of real estate in the mining region likely to return high yields.
Mr Grylls said the hotel, which will incorporate commercial retail space, will revitalise the town of South Hedland.
"The landmark high quality multi-level hotel development will revitalise the South Hedland town centre by activating Colebatch Way and incorporating retail space at street level."
Up to 300 residential dwellings are expected to make up the residential estate, including a number of multi-storey buildings.