AMP Capital appoints development partner in WA
AMP Capital has appointed Blackburne as its new development partners for residential apartments at Karrinyup, WA.
Under the terms of the deal, Blackburne would develop close to 100 residential apartments in the Karrinyup Shopping Centre which would be undergoing an $800 million development.
AMP Capital’s WA Divisional Development Manager shopping centre, Scott Nugent, said that a mixed-use development was a growing trend being embraced both locally and nationally and that “retailers will also benefit from having residents right on their doorstep”.
Blackburne’s founder and managing director, Paul Blackburne, said that this partnership represented an opportunity to create higher-end residences in a premium location.
“By combining shopping, dining, entertainment and living, we’re presenting buyers with a level of convenience and connectivity that has not previously been seen in Perth,” he said.
The residential apartments would be for sale later in 2019 while the construction was expected to commence towards the end of 2020 and practical completion targeted for mid-2022, the firm said.
AUTHOR
Oksana Patron
Recommended for you
AMP non-executive director Kathleen Bailey-Lord and Iress non-executive director Susan Forrester have been appointed to the national board of the Australian Institute of Company Directors.
Wealth manager JBWere has announced the launch of two fixed income strategies for wholesale clients, backed by UBS Asset Management.
Firetrail Investments has confirmed the departure of four executives over the last quarter, including head of investment strategy Anthony Doyle.
Ares Management has announced a new offering aimed at providing Australian wholesale clients, investors access to its private equity investment strategies, anchored in secondary investments.
