Hesperia adds to Murdoch precinct with new acquisition
September 19, 2020
Hesperia will deliver about 120 new residential apartments at the Murdoch Health and Knowledge Precinct in partnership with Birchmead Property Group, following their joint acquisition of Lot 118 within the precinct.
Hesperia and Birchmead plan to construct a 10-storey building on the 3,438 square metre lot, housing the apartments and accompanying commercial space. Subject to approval, construction of the development is expected to start in late 2021.
Plans for Stage 1A development of Murdoch Health and Knowledge were recently granted development approval. The plans include an 80-bed medihotel plus residential, commercial, medical, aged care and office facilities. Hesperia and Birchmead previously partnered on a planned 100-apartment development to be completed in Stage 1A, however that plan was revised to accommodate higher-than-expected demand for the precinct’s health and medical property stock.
“The demand for medical and health-related and commercial products within the precinct was higher than originally anticipated,” Hesperia director Kyle Jeavons said.
“We had always been very motivated to pick up additional sites in the precinct and fortunately we were successful in acquiring Lot 118.
“From a precinct perspective, it’s a fantastic outcome and reinforces the growth of the area and certainly what will be a terrific town centre when completed.”
Lot 118 will be in proximity to two of Western Australia’s largest tertiary hospitals, Fiona Stanley and St John of God Murdoch, and close to Murdoch University, the Harry Perkins Institute of Medical Research, and South MetropolitanTAFE. The mixed-use development will create about 750 jobs during construction, adding to the 2,000 construction jobs expected to be created through the development of Stage 1A. When complete, Murdoch Health and Knowledge Precinct is expected to support 35,000 jobs, 22,000 residents, and facilities for up to 44,000 students.
Birchmead head of property Joe Sanfilippo said the company looked forward to partnering with Hesperia and bringing their collective expertise to the Lot 118 development.”Birchmead is excited to be associated with the precinct projects in particular as these play a significant role in community development and improved lifestyle choices,” Mr Sanfilippo said. “The Lot 118 proposed development will provide future residents with the ability to live within very close proximity of the broader Murdoch Activity Centre and extensive public transport infrastructure.”