THE Joondalup CBD is set for a boost with WA-based property group Primewest looking to invest $100 million.
Its plans include a 140-room hotel, a retail-residential building and an office development on Davidson Terrace.
They will be built on the company’s 12,400sqm site across from Joondalup Health Campus.
Primewest director David Schwartz said discussions had been held with hotel operator Rydges. Rydges Hotels and Resorts Group general manager Norman Arundel said Joondalup was crying out for four or five-star hotel accommodation.
He said it would benefit the hospital, with many country patients needing accommodation.
Sheffield Property project leasing director Digby Sutherland said the “lack of quality office stock in recent years has severely limited the city’s ability to grow and attract new businesses from traditional office locations”.
Mr Schwartz said Primewest had started its latest land subdivision, Vertex Estate in Yanchep.
“Joondalup has so much potential to be a vibrant and growing satellite city similar to places like Parramatta in NSW, but in a commercial sense it has stalled in recent years” he said. “We hope that by taking this major step and making such a significant investment in Joondalup that it will encourage others to follow suit.”