Link decision is opportunity

The decision by the Metropolitan Redevelopment Authority to embark on an alternative sales strategy for the Perth City Link is a timely opportunity for the agency to review its processes to ensure that it continues to be effective in bringing projects to market. 

The MRA has a hugely important role in facilitating strategic projects in challenging locations in Perth.  The agency has succeeded in completing most of the lengthy infrastructure work to prepare sites for development in the CBD.  Now it has to quickly respond to the challenging market conditions when facilitating the final stages of facilitating projects.  

The development and investment industry is very keen to participate in the Perth City Link and other strategic sites. 

The industry itself has evolved in the current circumstances.  Contrary to perception real estate sales and office leasings are occurring in Perth but it is more of a buyer and tenant market, which requires greater tailoring of new developments. 

It’s not too unusual for a major project to change strategy mid-course, however a new strategy needs to send a signal to the market that the proponent wants to get on with things.  It should also be noted that unlike the eastern states which are at the top of their cycles, the WA real estate market must be close to the bottom of the cycle and poised for growth at some point soon.  This will work in favour of Perth’s strategic development sites and the rest of the local market going forward.