CITY of Stirling is proposing a 99-year lease of land to the owners of two Innaloo shopping centres.
The lease is part of plans for the redevelopment of Westfield Innaloo and Innaloo Megacentre to allow owners RE1 Limited and Scentre Management Limited to build two bridges over Oswald Street connecting the sites.
To enable construction of the bridges, the City has proposed to close the road reserve and create two lots as Crown Reserve, giving it power to lease the land.
A City report said the bridges represented significant investment from the applicant and were “essential” for the redevelopment.
It plans to lease the space for $1 per year payable on demand.
Public comment on the proposed road reserve closure is open until June 14 and feedback on the intent to lease closes on June 20.