SQM: Picture perfect listing set in Denham World Heritage Area hoped to draw international attention

A picture-perfect stretch of land in a World Heritage area in Denham has hit the market. With the release of developable land along the stretch of coast limited by World Heritage protections, the two parcels to hit the market will no doubt draw worldwide attention. Set at Denham Road and Monkey Mia Road, within the iconic and internationally acclaimed Shark Bay World Heritage Area, the landholdings are selling for the first time in more than four decades. The 26.56-along the WA coast, owned by Stephen Bruce’s Sigma Syon Pty Ltd, is expected to realise between $3 million and $4 million. Ray White’s Brett Wilkins said it was one of the most significant land opportunities on the WA coast in years. “The rarity of the offering, the sheer scale, and the world-class location make it nothing short of a generational investment opportunity,” he said. A $30 billion global entertainment group — behind stars such as Chappell Roan and Lady Gaga — has purchased a Northbridge warehouse with plans to turn it into a live music venue. New York-listed Live Nation purchased the Francis Street warehouse through its subsidiary Indian Ocean Venue Management, with plans to transform it into a 3000-person live music venue. It was sold by the founding family behind the Re Store Pty Ltd, which operated European Foods Wholesalers at the site. The Northbridge property was purchased for $9.65m, plus GST, through Burgess Rawson director Luke Randazzo, in an off-market deal. The 2292sqm inner-city warehouse site operated as a European foods wholesaler until 2018. The original site was initially developed in the mid-1980s, with the adjoining lot added to the development in 2008. Mr Randazzo said the deal would transform Northbridge. “This is an incredibly significant play in the Perth entertainment scene and more broadly the City of Perth,” he said. “A global enterprise of this size and scope investing in our city reinforces the upward trajectory of Perth as a capital city and destination. “This venue will attract world-class acts whilst supporting and promoting the WA entertainment, performing arts and cultural industries. “The venue will be truly transformative for Northbridge and bring thousands more people into the precinct to be entertained ... ultimately support local existing businesses.” Centric 481, a soon-to-be-completed mixed-use development, will offer a unique combination of micro-warehouses, offices and basement storage units. The brainchild of Zedex developer Robert Zupanovich — coming off the back of his successful “Sotto” development in Osborne Park — it includes warehouse and office accommodation on the ground level, with storage for larger vehicles, cars, boats and caravans in the basement. Axia Corporate Property’s Ric Olivieri and Wayne Mitsikas are already undertaking sales and leasing inquiries ahead of anticipated completion in the third quarter of next year. “The success of Sotto reinforced how discerning buyers are — particularly owner-occupiers — in that they crave brand new quality space in an A-grade location,” Mr Zupanovich said. Construction is underway, and sales activity has been strong with a considerable volume of units already pre-sold or on hold. Mr Mitsikas said it would appeal to investors, owner-occupiers, hobbyists and downsizers. Demolition of the Mosman Park neighbourhood shops is underway for the Mos Lane development after five long years. The Australian Development Capital project was initially slated to include seven storeys and 100 apartments at a cost of about $50m. After years of community opposition and seven significant design changes, it will now comprise 68 apartments in its five levels and cost about $100m to build. The result is a win for community amenity, with a raft of new hospitality venues, a florist, a barber, retailers and a supermarket now set to be included in the project. But with the increasing cost of apartments and of construction, it is not a win for buyers’ hip pockets. Two of the penthouses have sold for a combined $13.5m and the cost of a one bedroom apartment starts at $750,000. ADC’s Adam Zorzi said it was a rare offering in the western suburbs at the moment, given there were not a lot of apartment projects in the area, apart from Nedlands — at the moment. Construction will commence next month and the project is set for completion in early 2027.