Green light for Dempsey’s $80m Scarborough build
By Nadia Budihardjo
The proposed development on the corner of Brighton Road and The Esplanade in Scarborough. Image: DKO Architects
A development panel has unanimously approved Gary Dempsey’s Scarborough project, a 12-storeydevelopment comprising 21 apartments.
The Metro Inner-North Joint Development Assessment Panel today approved Gary Dempsey Developments’ 12-storey apartment development on 194 The Esplanade, on the corner of Brighton Road and The Esplanade.
The proposed development, to be named Myka Scarborough, include 21 apartments, communal open space, andassociated car parking for residents and visitors.
An estimated construction cost of $30.5 million was listed in the JDAP report, but Business News previouslyreported Myka Scarborough has an expected end value of $80 million.
City of Stirling councillor and JDAP member Suzanne Migdale said she was comfortable to approve thedevelopment, with the conditions imposed by the city officers.
“Everything sits right with me, I cannot foresee any issues or dilemmas to be faced in the future by either theapplicant or the city,” she said.
“I do believe once constructed, this building will add to our streetscape, provide infill and be a positive additionto Stirling.”
After the meeting, GDD founder Gary Dempsey said the project was designed to fill a gap in the market.
Mr Dempsey said residents from surrounding coastal suburbs looking to transition to quality apartment livingtended to be overlooked in Scaborough.
“This development is definitely more aligned with the calibre and size of the apartments that you see on theSouth Perth waterfront and that are likely to attract buyers at the higher end seeking a premium quality, lowerdensity apartment development rather than the larger blocks of apartments that have tended to dominate inScarborough,” he said.
“The demand for developments pitched at this level continues to grow and to date there has been a major undersupply.
“Scarborough and surrounding waterfront suburbs have tended to consistently exclude those who are seekingluxurious, private apartments of significant size, forcing a section of the market to remain in larger, highmaintenance homes which is one of the factors highlighted by successive governments to free up much neededhousing stock.”
Mr Dempsey said the marketing campaign was expected to start in April with construction to commence in thefinal quarter of 2024.
He said discussions to appoint a project builder were ongoing.
Myka Scarborough was designed by DKO Architects.
The proposed Scarborough development comprises two apartments on each floor, with a full floor penthouse.
Mr Dempsey said he expected the apartments to be predominantly owner occupied.
“I think there is generally a higher level of positivity in the market at the moment with prices beginning to bemore reflective of construction costs, which makes it feasible to undertake projects like this again,” he said.
The Scarborough site was previously owned by GDD’s former joint venture partner Cape Bouvard Developments,until Mr Dempsey took full ownership in 2020.
RP data shows the site was acquired for $7.7 million in June 2021.