partner in $150m karratha development

Article in the west and online today.
No market announcement yet, but i assume there will be something as they did make an annoucement over a $28m contract.




A consortium of WA businesses has won the race to develop Karratha's Tambrey neighbourhood centre, potentially worth up to $150 million.

The Karratha Consortium, made up of long-time Perth developer Adrian Fini's FJM Equities, developer and builder Rapley Wilkinson and Raydale Holdings, is expected to be named by Lands Minister Brendon Grylls today as the preferred developer for the mixed use centre.

The creation of the village in Karratha's western suburb of Tambrey will be located next to the existing 176 lot residential development and is part of the Pilbara Cities project that is trying to make the State's northern cities more liveable.

Plans for the 10 hectare neighbourhood centre include residential accommodation, a supermarket, a medical centre, specialty shops, cafes and offices. The development will include about 300 residential dwellings including townhouses, low-rise apartments, short-stay accommodation and 8100sqm of retail and commercial space.

Mr Fini said the consortium was eager to get involved with the development of the Pilbara.

"Our consortium members' experience in the region means we have a real understanding of the broader issues facing the Pilbara, and in our plan we placed great importance on developing meeting places for people to socialise, conduct business, shop, enjoy entertainment and participate in leisure activities," he said.

Submissions to develop the centre closed in March but for the development to go ahead the land would need to be rezoned and go through a public consultation process with the Shire of Roebourne.

The land is on three titles with differing zones, with a tentative timetable of just over three years to completion.

It is understood on completion the project would be valued between $100 million and $150 million.

The Tambrey centre has been designed to encourage walking, cycling and public transport and will complement Karratha's town centre which is also earmarked to undergo a face lift.

The site is bounded by Tambrey Drive to the north, Bathgate Road to the east, Dampier Road to the south and a drainage reserve to the west.

Other recent developments in Karratha include SGC Securities $100 million, five-storey Tambrey Luxury Apartments with 149 apartments.

http://au.news.yahoo.com/thewest/business/a/-/business/7211986/karratha-scores-150m-village/