Beaufort St plots to be sold

It was revealed last week that the MRA would be facing a debt of hundreds of millions of dollars and was expected to suffer a $13 million loss in 2015-16.

MRA chief executive Kieran Kinsella confirmed the properties would be sold in their current condition.

“Over the past few years the MRA has been working to review the condition of the properties to determine the level of building upgrades required and the market appetite for redevelopment,” Mr Kinsella said.

“That work is now complete and the MRA expects to commence a market process for the Beaufort Street properties in the coming weeks.

“The MRA sees the potential of these properties to add to the revitalisation of Northbridge, including recent refurbishment of similar properties on William Street and the increasing popularity of the Perth Cultural Centre.”

In 2014, Mr Kinsella told the Guardian Express that the MRA had to take vacant possession of the site in 2012 to allow it to investigate the building, determine its condition and scope any improvement works.

“The MRA is currently investigating options for the buildings including refurbishment for potential leasing purposes, or sale,” he said at the time.

“To improve the aesthetics of the buildings in the short term, the vacant shopfronts have been hosting temporary art installations through a collaboration between the Central Institute of Technology’s Gallery Central and the MRA.”