“Ambitious” plans for the redevelopment of a 1980s shopping mall precinct in Perth have been filed by the investment firm of mining don Andrew ‘Twiggy’ Forrest.
The proposals filed with the City of Perth by Fiveight, the property division of investment group Tattarang, owned by Forrest and wife Nicola, detail a “bold” plan to revamp the site into a huge entertainment and accommodation precinct.
The 5723sq m site at 692 and 674 Hay Street Mall is one of the biggest sites in the CBD and Fiveight is seeking to reimagine the dated buildings with its $400-million project.
It would create “a new major destination with wide appeal and amenity in the retail heart of the Perth Central Business District,” the application said.
Fiveight is planning a 30-storey purpose-built student accommodation highrise and a 17-storey hotel facing Hay Street Mall, with restaurant, food and beverage, function space, swimming pool and lounge recreation areas.
A four-storey retail and food and beverage precinct is planned to span the podium with a revitalised uncovered public connection between the Hay and Murray street malls and Forrest Place.
A new vehicle access tunnel under Murray Street Mall, connecting the Forrest Place basement to the Carillon basement, is also part of plans and woule allow development to “maximise its impact on the CBD whilst enabling a significant amount of the logistics to occur below ground and avoid impacts to the malls”.
The plans by Urbis include the demolition of all existing structures on the site, which was formerly two separate arcades—Carillon Arcade to the west, which opened in 1982, and City Arcade to the east, completed in 1970.
In 1998, then-owners of the Carillon Arcade, Multiplex and Hawaiian Property Group, purchased, integrated and refurbished the properties to create Carillon City.
By 2014 portions of the site fronting Murray Street Mall were reconstructed to create a two-level mini-major tenancy now occupied by Cotton On.
Dexus paid $140 million for the Carillon City site in 2016. In 2019, a development application was approved by the City of Perth that would have delivered a 24-storey office tower with a storey podium comprising retail, hospitality and entertainment centre with cinemas.
But Dexus instead offloaded the site to Forrest’s Tattarang in 2022 for $80 million.
“This proposal is significantly enhanced and improved on the previous approval,” the current application said.
Carillon City, which includes a 15-level office tower and a cinema on level four, is now closed aside from two retail tenancies.
