Murray Street, Perth
Key Service: Development, Consulting
Dransfield were engaged by the developer, an option holder, who had secured a DA for two towers; commercial and residential.
With a softening of the Office market, the potential returns failed to meet IRR and other key financial hurdles. Our role was to assist in designing and developing a new hotel scheme to replace the office tower looking to extract as much value as possible for this prime Perth CBD location.
A viable scheme, which saw significant retail on the lower floors, Hotel in the middle and residential on the upper floors, unlocked the potential for the site, creating a new viable use and value for the option holder.
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