Five properties sold as one: Rare investment opportunity on bustling Perth street

A stretch of five properties being sold together in one of Perth’s affluent southern suburbs has sparked strong interest in what has been billed as a “once in a lifetime” buying opportunity.

The landholding – which spans 5072sqm across 797-805 Canning Highway, Applecross – comprises of a vacant block, childcare centre, apartment complex and an old house.

“I have never seen something like this of five together,” sales agent Eric Hartanto from Hartanto Properties Applecross said.

“I’ve been selling for the last 21 years, and this is a really rare block. Normally people just own one – owning five together is super rare.”

797-805 Canning Highway, Applecross. Picture: realestate.com.au

The five street front lots have a prime double corner location, and are in close proximity to the Riseley retail precinct, Westfield Booragoon and is minutes from the Perth CBD.

The vendor, who owned the prime parcel as an investment, had decided to sell due to the strong demand for land in the current Perth market, Mr Hartanto said.

797-805 Canning Highway, Applecross. Picture: realestate.com.au

“Having five lots, of 5000sqm plus is quite rare on Canning Highway so that is a lot of opportunity… with the requirement of more housing these days,” he said.

“It would be good option to explore for a developer to potentially build up to five-storey mixed-use, having some offices, having some apartments… that would be a nice, iconic building to consider.”

While the listing stated ‘various configurations are offered, subject to availability and owner’s discretion,’ Mr Hartanto said the preference was to sell the parcel as one, rather than breaking up the offering.

797-805 Canning Highway, Applecross. Picture: realestate.com.au

Medical groups and shopping centre developers have expressed interest in buying the site, which has mixed-use development potential of up to five storeys, subject to council and planning approvals.

The landholding is being sold via an Expressions of Interest campaign.