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.”