By Craig Zammit

PERTH: The site of Harvey Norman’s City West store location in Perth’s west is set to host a new $500 million development which will feature residential dwellings and offer an additional 20,000 square metres of office and retail space.

As reported in The West Australian, Pride Projects will be spearheading the development, with mining contractor, Macmahon Holdings, already signed on as an anchor tenant for the new site.

The site, owned by Harvey Norman, is due for completion mid-way through 2008, and currently leases space to approximately 90 businesses including Harvey Norman, Beds Plus and Home Ideas.

Pride managing director, Malcolm Purcell, spoke to The West Australian and confirmed that while the final plans for the development were yet to be finalised, further details would be revealed over the next few months.

The first phase of the redevelopment is reported to be a $40 million, 8,000 square metre boutique office building, which will commence construction mid-way through 2007 and will be built on the Parry’s Carpet Warehouse site.

Macmahon Holdings has been announced as the anchor tenant for the new building, and has signed a lease for over 4,000 square metres of the 8,0000 square metre site.

The remainder of the new office building will be jointly leased by leasing agent Knight Frank and Savills.