Pindan Capital buys Western Suburbs icon
Pindan Capital has purchased the iconic Ocean Village shopping centre site in City Beach. Among the earliest shopping centres built in Perth, Ocean Village is well-known to generations of local residents and beachgoers from nearby suburbs who have visited its shops, cafes and restaurants.
The 7,280sqm site was acquired from Saruman Holdings Pty Ltd. The car park surrounding the shopping centre is owned by the Town of Cambridge, with agreement in place with the Council that enables long-term use of the car park.
Pindan Capital intends to redevelop the centre as a contemporary mixed-use site comprising a new shopping centre including boutique retail and food outlets, with residential apartments above.
Master Planning and Urban Design has commenced and the shopping centre will continue to service local residents and beachgoers throughout the redevelopment period.
The strategic location of the site in the heart of City Beach and near Floreat beach and major roads mean the existing land users and tenants have already indicated their desire to move back into the new and improved shopping centre.
Pindan Capital’s Scott Davison said the site would provide an alternative type of lifestyle for City Beach residents and those in surrounding Western Suburbs whom currently have limited downsizing/low maintenance living options.
“The site has been visited by generations of Western Australians and I believe local residents will find that this adds to the attraction of their suburb. We will be ensuring the existing services to the local community will be maintained, and improved in new and improved spaces.”
The site lends itself perfectly to residential redevelopment, being well serviced by Hale Road and West Coast Drive; located just 500m from the beach; and surrounded by parkland. The site has unrestricted access to natural light and the elevated aspect of the apartments will offer clear ocean, city and parkland views.
Public consultation will be undertaken as part of the formal planning approval process following the completion of Master Planning and Urban Design work.
Hotels and Retail Points to Economic Improvement
08 Dec 2017