Perth still has $400 million of redevelopment in the pipeline
Thursday, May 18, 2017
Samantha Reece recently attended the Property Education Foundation's (PEF) Retail briefing with representatives from Westfield (Kate Holsgrove), Perron Group (Andrew Byars) and Vicinity (Andrew Hall).
And while Carousel, Cockburn Central and Morley Galleria are all poised for redevelopment - Perth CBD is also looking to undergo a major spruce up.
Jim Tsagalis, Director Lease Equity outlined a number of upcoming projects that would transform the City of Perth including Forrest Chase’s $100 million face lift and QVI and Raine Square’s estimated $300 million in remodeling.
Additional projects such as the addition of around 1,000 sqm at 480 Hay Street incorporating the 356 room Westin Hotel, would also inject another layer of food and beverage.
Jim stated that these developments coupled with Yagan Square and Elizabeth Quay would revolutionise the way Perth interacted with its national and international counterparts.
As he said - these extra projects will now create a night economy - and that is a great balance to what otherwise is a relatively 9am-5pm City.
There is no doubt that Perth can still feel somewhat buoyant as the capital investment that is still being injected into commercial fit-outs and retail expansion can only have a positive effect. And that is certainly worth celebrating!