THE West Australian Government last week announced that two Perth City Link lots next to the Perth Arena have been sold to Far East Consortium International Ltd to build a 250-room Dorsett Hotel and 350 apartments.
The $219 million development is the second Perth project for the Hong Kong company which earlier this month started work on The Ritz-Carlton hotel and apartments at Elizabeth Quay.
Planning Minister Donna Faragher said the State Government has invested millions of dollars in major projects that are redefining the city and returning significant benefits to West Australians through land sales, new hotel accommodation, tourist destinations and diverse living opportunities.
"With more major business, sporting and entertainment events coming to Perth, we must provide the hotels, restaurants and public spaces needed to support our growing tourism economy and welcome the thousands of visitors to our State each year," Ms Faragher said.
The State Government has invested more than $1 billion in the Perth City Link project since 2008, including demolition of the Perth Entertainment Centre and completion of Perth Arena, sinking part of the Fremantle rail line, the new $217 million Perth Busport and the construction of Yagan Square, which is expected to open in mid-2017.
Mrs Faragher said the government's investment in the Perth City Link had removed physical barriers making way for land sales and new connections between the city and Northbridge.
The Minister also announced a further four lots at Perth City Link would be released to the market over the coming months, giving developers and investors new opportunities to be part of the transformational project.
"Later this year, construction on the first vehicle connection linking King Street with Lake Street in Northbridge is expected to commence, creating an inviting public open space near the western bus portal," she said, adding that this will be followed by the new William Street Mall and Yagan Square.