Property News. Perth. This month: Property trends reported in the Australian Media November residential property research

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1 Perth Property News residential property research Property trends reported in the Australian Media November 2013 This month: Government s preferred Perth City model released. Midland Public Hospital hits topping out milestone. City Square to bring markets back to the CBD. Energy Giant finds new home at Elizabeth Quay. New road roamp at Abernaethy Road now open. Next traffic phase for our changing city. Sources used in this report: Government of Western Australia ( Metropolitan Redevelopment Authority ( Minister for Infrastructure and Regional Development ( Adelaide Brisbane Melbourne Perth Sydney Shanghai

2 Government s preferred Perth City model released. Report source: Government of West Australia media release: 04 November The State Government today released its final proposal for new boundaries for the City of Perth, taking in capital city landmarks as well as the entire City of Vincent. Premier Colin Barnett and Local Government Minister Tony Simpson released the revised proposal, which has been submitted to the independent Local Government Advisory Board (LGAB) this week, at The University of Western Australia s (UWA) Winthrop Hall, which is split by current local government boundaries. This boundary is just one of the anomalies in the current local government boundaries in the Perth metropolitan area, which in many cases were drawn up more than 100 years ago, Mr Barnett said. The Government s model for the City of Perth will dispense with this absurd situation - which has UWA overseen by three separate councils - by bringing the entire campus into the City of Perth. We have also listened to the residents of Vincent, who want to be treated as an inner city area and included in the City of Perth. It is also important that the reform process begins with the City of Perth. These changes will give the city the status it should hold as a capital city with growing importance in the region, This model will enhance the city, bringing the emblematic features that are the city s great selling points under one administrative umbrella. A bigger City of Perth will also be better equipped to respond to the needs of a growing State. The 30 local government authorities in metropolitan Perth were invited to make submissions to the LGAB, with about 20 proposals being lodged. As foreshadowed, the Minister is now making his submissions to the LGAB on the Government s behalf, the first relating to the City of Perth boundaries. Mr Simpson said under the Government s new preferred model, the northern boundary of the City of Perth would follow the current City of Vincent boundary along Green and Walcott streets. Hampden Road and Broadway in Nedlands form the new western boundary, and encompass QEII Medical Centre and Hollywood Private Hospital, and UWA s Crawley campus within the expanded City of Perth. The board has briefed me and my department on all the proposals it has received. I ve had a good look at all the arguments for and against change, and drafted a new model for the City of Perth which has been signed off by Cabinet, Mr Simpson said. I will soon submit the Government s proposals for other local government areas to the board as well. The Premier said the changes, which were expected to take effect from July 2015, signalled a new era for the State s capital. This is a pivotal step in the history of our city - and the next step in the State Government s reforms, which will ensure that local councils are best equipped to meet the demands of a growing city, Mr Barnett said. Mr Simpson has recently introduced amendments to the Local Government Act into State Parliament which will boost the number of LGAB members from five to seven. The amendments make no changes to the poll provisions which allow a small percentage of voters to veto a merger. Mr Simpson said Western Australia was the only State that had not yet achieved a strategic reform of local governments. The need for local government reform is well established and clearly overdue. There is now a compelling basis for the Government to drive and support the reform process at a political and legislative level, he said. I believe these poll provisions are contrary to the principles of a democratic local government system, but I do not want discussion on this to distract from what I am trying to achieve - larger, stronger local governments that can deliver better services to our growing population. Fact File UWA now falls under three local government areas - Perth, Subiaco and Nedlands Under the revised model, the City of Perth will expand to include the City of Vincent, Crown Casino, the new Perth Stadium, QEII Medical Centre and Leederville s cafe strip The extension of the city s western boundary will take in most of UWA s land parcels More information at metroreview.dlg.wa.gov.au

3 Midland Public Hospital hits topping out milestone Report source: Metropolitan Redevelopment Authority media release, 07 November The construction of Midland Public Hospital has reached another key milestone, with a ceremony today to mark the topping out of the $360million project. Health Minister Kim Hames said the hospital was on time and on budget, with construction now more than 40% complete. The topping out ceremony is significant in that it marks the important milestone of both the northern ward block and the southern clinical block reaching their full height, Dr Hames said. Construction of this project, the first major hospital facility to be built in Midland in more than 50 years, is progressing well towards completion in In its first year of opening, Midland Public Hospital will deliver free health care to about 29,000 inpatients. The delivery of high-quality health care closer to home will mean the number of people requiring general hospital care who can be treated locally will increase from 35% to 75%. Mental Health Minister Helen Morton, who represented the Health Minister at the ceremony, said the hospital would provide expanded services, including a 56-bed mental health facility. Midland Public Hospital will provide expanded services from those currently provided at Swan District Hospital, including emergency, maternity, paediatric, aged care and mental health services as well as new services such as intensive and coronary care, all free of charge to public patients, Mrs Morton said. The development has offered a unique opportunity for innovative design which includes a 56-bed public mental health facility to be located on the top floor with open internal courtyards. The State Government is in partnership with St John of God Healthcare to design, build and operate Midland Public Hospital. Midland Public Hospital is a part of a bigger picture for health in Western Australia, with the State Government investing $7billion in building, expanding or refurbishing hospitals across regional and metropolitan WA, Dr Hames said. City Square to bring markets back to the CBD. Report source: Government of West Australia media release: 27 November permanent food market, an A Australian native garden and Aboriginal public art are some of the features planned for the key public space at Perth City Link. Releasing the first concept images of City Square today, Premier Colin Barnett said the plan was developed in response to more than 2,000 ideas generated from community feedback - primarily the City Square Ideas digital tool. City Square will be a dynamic new destination that embraces Perth s lifestyle and character to become one of our city s most significant places, Mr Barnett said. The square will include The Horseshoe Market place, an urban rooftop garden, water features, kiosks, retail spaces, landscaped terraced walkways, play spaces and striking Aboriginal art. Up until the late 1920s, Perth people enjoyed fresh food markets in the city on the corner of William and Wellington streets. City Square will herald the return of food, community and city life at the Horseshoe Bridge. Planning Minister John Day said City Square would be an inviting and lively meeting space where people could connect and celebrate Western Australian culture. Tens of thousands of people are expected to move through the area each day. It will be a place where people can enjoy events, public art and open spaces in the heart of the city, connect with public transport and businesses or simply pass through the area en route to Northbridge and the Perth Cultural Centre, Mr Day said. The Premier said Perth City Link was already changing the face of Perth and would provide new and exciting ways for people to engage with our city. This project has changed the city so much already. In the past 12 months, the new Fremantle rail tunnel has opened, works are under way on the Kings Square development and a contract has been awarded to build the new $249million underground bus station, Mr Barnett said.

4 Energy Giant finds new home at Elizabeth Quay Report source: Government of West Australia media release: 08 November Premier Colin Barnett has today announced the first sale of a commercial lot at Elizabeth Quay. The 6,795 square metre site on the corner of Barrack Street and The Esplanade has been purchased by Chevron (TAPL) Pty Ltd for $64million, the first sale from the nine lots available at Elizabeth Quay. Mr Barnett said land sales were expected to return a significant portion of the State Government s $440million initial investment in developing Elizabeth Quay. Chevron s decision is a significant milestone for the Elizabeth Quay project, and a sign of confidence in both this waterfront precinct and the future of the State, the Premier said. This first sale shows that there is strong demand for the land at Elizabeth Quay, which will be a premium location for business, as well as providing a new way for West Australians and their families to enjoy our waterfront. This is an important project in many ways. Overall, it is expected to attract more than $2billion in private investment as well as create more than 1,600 direct and indirect jobs during construction. Under design guidelines for the project, Chevron can build a tower up to a maximum of 36 storeys and will be required to demonstrate excellence in design and ensure their development engages with The Landing and the promenades. Planning Minister John Day said Chevron s decision to invest in Elizabeth Quay would act as a catalyst for future investment and development opportunities. The Metropolitan Redevelopment Authority is finalising negotiations for a 5-star hotel and residential development on the eastern peninsula of Elizabeth Quay, adjacent to the soon to be revitalised Barrack Street Jetty precinct, Mr Day said. Together with the Chevron land sale, commencement of inlet construction works and the recent release of a mixeduse development opportunity on the northern edge of the inlet, the vision of Elizabeth Quay is fast becoming a reality for the people of Perth. Elizabeth Quay is on time and budget, with the construction of the inlet now under way, and due for completion in spring Barrack Street Jetty will be the first precinct in the project to be completed. A revitalisation package worth more than $20million will commence later this month and include a new event space. The current road works are on track for completion in the coming weeks, with the permanent diversion of Riverside Drive coming into effect after the Australia Day weekend in January Mr Barnett said it was pleasing to see Elizabeth Quay taking shape after so many years of discussion on how to revitalise the riverfront. It will be a vibrant precinct that will attract an expected four million visits each year. It will be a place where people can spend time having a quiet coffee, enjoying a meal, shopping, riding a bike, catching a ferry, attending a concert or just passing time on the riverfront, he said. New road ramp at Abernethy Road now open. Report source: Minister for Infrastructure & Regional Development media release 13 November The first section of the $1billion kilometres over existing routes. It is Gateway WA project the great news for the 22,000 vehicles Abernethy Road and Tonkin travelling this section of Abernethy Highway interchange is now Road. complete with the new $15.4 million on-ramp now open for traffic. Deputy Prime Minister and Minister for Infrastructure and Regional Development, Warren Truss, said the ramp would provide a critical link for Perth s freight industry. This new ramp, expected to be used by 6,000 vehicles a day, delivers a direct, efficient access route from the Kewdale and Forrestfield industrial area to the national road network, Mr Truss said. The ramp reduces travel time by about seven minutes, and saves 3.7 Federal Member for Swan, Steve Irons, said the project would alleviate congestion along the Tonkin Highway by separating airport and freight traffic. The project will allow traffic travelling on Abernethy Road direct access to the southbound lanes on the Tonkin Highway, Mr Irons said. Delivering Gateway WA without the mining tax was a major commitment from the Coalition at the September election and as with the Great Eastern Highway upgrade, I will make sure we deliver it for the people of Swan. Western Australian Minister for Transport, Troy Buswell, said the onramp was part of the Gateway WA project, which involved upgrades to roads around Perth Airport. As well as improving freight access, Gateway WA will construct and improve several major interchanges on the Tonkin and Leach highways, so it will be a great asset as Perth s population increases, Mr Buswell said. The Australian Government committed over $686.4 million to the Gateway WA project, with the Western Australian Government providing the remaining $317.5 million.

5 Next traffic phase for our changing city. Report source: Metropolitan Redevelopment Authority media release, 19 November new road providing direct A access from the western suburbs into the city opened this week, marking completion of a number of significant roadworks around the CBD. (View the maps below) Stephen Troughton, Managing Director Main Roads WA said the people of Perth had been adjusting well to the volume of changes in the CBD and he thanked everyone for their patience as the city moved into this next phase of traffic changes in the CBD. We have been working hard to deliver projects that address Perth CBD congestion. The successful addition of extra lanes in the Northbridge Tunnel has provided significant time savings for commuters, Mr Troughton said. Additional benefits of the $57million project will be realised with the completion of the Mitchell Freeway widening from the city through to Hutton Street, which is on schedule for all new lanes to be operational by the end of In addition, an $8.2million investment in a new, free Green CAT service between Leederville and Perth CBD, has been in operation since July 2013 and joins the three existing CAT services. Extensive works to upgrade infrastructure around the Elizabeth Quay site are also now complete with lane closures lifted on The Esplanade and Mounts Bay Road and William Street reopened to two-way traffic. Kieran Kinsella, CEO Metropolitan Redevelopment Authority said the works included construction of a new citybound link from Point Lewis Roundabout, under the Narrows Bridge and along to river, connecting with the new northbound lanes of William Street. A key focus of the Elizabeth Quay works program was to complete these roadworks prior to the permanent diversion of Riverside Drive, which will come into effect from January 27, 2014, Mr Kinsella said. Bringing the city and the river together again isn t without challenge but these changes will allow this area of the city to be more people friendly with great benefits for residents, workers and tourists alike. Mr Troughton said Main Roads WA had been working closely with the Metropolitan Redevelopment Authority, City of Perth, Public Transport Authority and the Department of Transport on the coordination of all CBD roadworks projects. These agencies continue to work closely together to ensure that the impact on road users is minimised wherever possible as we enter the next phase of traffic changes in the city. A number of changes - including temporary closure of Barrack Street northbound, works to facilitate sinking the Wellington Street Bus Station and the permanent diversion of Riverside Drive in late January, will come in to effect over the next few months, creating a new phase of CBD traffic management for commuters.

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