Po­ten­tial pro­jec­tions

Western Suburbs Weekly - - Western Suburbs Weekly -

SUBIACO is like an ado­les­cent teenager that tan­ta­lises us with its great po­ten­tial, Aus­tralian Prop­erty In­sti­tute (API) fel­low Gar­rick Smith told the Subiaco - All You Need to Know fo­rum last week.

Sig­nif­i­cant fu­ture de­vel­op­ments, the im­mi­nent loss of the Sta­tion Street Mar­kets and Subiaco Oval, and on­go­ing con­cerns with the town cen­tre at­tracted the big­gest au­di­ence of the API fo­rum se­ries this year. Town Cen­tre strat­egy City of Subiaco chief ex­ec­u­tive Ian Hill said the coun­cil would in­tro­duce short-term mea­sures like street fur­ni­ture and new light­ing to reignite vi­brancy.

Long-term ini­tia­tives in­clude a prop­erty port­fo­lio work­shop next month and re­tail hos­pi­tal­ity as­sess­ment to be pub­lished in June.

“Up un­til a few months ago we were wind­ing down to­wards lo­cal gov­ern­ment amal­ga­ma­tion, now we have done vir­tu­ally a 180,” Mr Hill said.

A re­port of im­me­di­ate projects to en­hance the ap­peal of Rokeby Road and Hay Street will be con­sid­ered at Coun­cil tonight. The fu­ture of Subiaco Oval “We’re now talk­ing about pulling it down, but the oval is only 15 years old and was built to last for 80,” WA Foot­ball Com­mis­sion (WAFC) strate­gic fa­cil­i­ties and devel­op­ment direc­tor Ge­off Glass said.

“We did not ask for a new sta- dium, that was the State Gov­ern­ment’s choice.”

Mr Glass said the WAFC had many vi­sions for Subiaco Oval when the AFL moved to the new Perth Sta­dium in 2018.

The vi­sion in­cluded mov­ing the WAFL to the ground, re­tain­ing part of the sta­dium with mixed-use and high- den­sity devel­op­ment with ac­ces­si­ble park­land, a broad­cast fa­cil­ity and pre­served her­itage ref­er­ences. Up­com­ing de­vel­op­ments Sta­tion Street Mar­kets de­vel­oper Greg Pearce said new and con­tro­ver­sial de­vel­op­ments were symp­to­matic of a chang­ing world.

Mr Pearce’s $96 mil­lion Coles-Tar­get is among the Ace Cine­mas ho­tel devel­op­ment, 16storey apart­ments at Pav­il­ion Mar­kets and mixed-use at Sed­don Street.

He said that de­spite the “gnash­ing of teeth and self-flag­el­la­tion”, Subiaco was in fact hav­ing a devel­op­ment boom.

“With change comes op­por­tu­nity, and my view is that Subi has more than its fair share of op­por­tu­nity,” Mr Pearce said. High street evo­lu­tion Subiaco’s re­tail core will shift to the north-end of Rokeby Road be­tween Hay Street and Roberts Road, ac­cord­ing to Lease Eq­uity man­ag­ing direc­tor Jim Tsa­galis.

Lease Eq­uity man­ag­ing direc­tor Jim Tsa­galis: “In terms of rein­vent­ing Subiaco, it’s not about just get­ting the next fran­chise. De­creases in rent are re­quired to at­tract re­tail­ers.”

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