Business

Sorrento commercial sites sell to develop apartments

Sorrento commercial sites sell to develop apartments

TWO commercial sites in Sorrento that house restaurants Voyage Kitchen and White Salt have sold for $9.75 million for the development of apartments.

The coastal sites at 130 and 134 West Coast Drive , which make up part of the previously proposed Sorrento Plaza development, are a combined 2477sq m and are also currently home to other commercial and office tenancies.

Axia Corporate Property introduced the site to buyer Megara Group, which plans to develop the site into luxury residential apartments, with commercial and retail tenants on the ground level where Voyage Kitchen and White Salt will be given first option to remain when redeveloped.

Megara director Chad Scott said the future development would be designed to embrace Sorrento’s coastal location and “highly-desirable community attributes”, with all apartments to have unrestricted ocean views and glimpses of Rottnest Island.

Axia consultant John Garland said commercial and suburban landholdings of this size and directly opposite the beach were a rare commodity.

“The property offers an excellent opportunity for Megara to create an iconic, one-off residential and commercial product in the premium suburb of Sorrento,” he said.

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