Westadium consortium, led by Brookfield and John Laing, has reached financial close with the West Australian State Government on the new Perth Stadium and Sports Precinct.
The signing of the contract for the Westadium consortium to design, build, partially finance and maintain the new Perth Stadium and Sports Precinct paves the way for work to begin on site at the end of this year, with the Stadium to be completed in time for the 2018 AFL season.
The Westadium consortium provides specialist expertise for each stage of the Stadium’s life.
John Laing is the investor and manager for the project, Brookfield Multiplex is the design and construction contractor, Brookfield Financial is the financial adviser and Brookfield Johnson Controls is the facilities manager for 25 years.
The consortium has partnered with a team of award-winning designers including
This team of designers have been credited with creating other renowned sporting projects including the Sydney Cricket Ground, Adelaide Oval’s new western stand, the 100,000 capacity AT&T Stadium in Texas, and the Beijing 2008 Olympic National Aquatics Centre.
Brookfield Multiplex Australasia Chief Executive Officer John Flecker said the consortium is gearing up to start delivering the project now that contractual and financial negotiations had been finalised.
"This project resonates with Brookfield on many levels - it gives us an opportunity to capitalise on our local knowledge, while also drawing on our international construction, financial advisory and facilities management expertise to help deliver something that is truly world-class,” said Mr Flecker.
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"We also strongly support the State Government’s commitment to the community through stakeholder engagement during the design and planning phase to create a precinct which will form an integral part of West Australian life.
"The estimated 5,700 jobs to be created during the construction phase will not only provide an estimated $2.5 billion boost for the West Australian economy, but also create a sense of ownership and pride which will stand us in good stead for the years ahead.
“In conjunction with our partner John Laing, we would like to thank the West Australian State Government for the opportunity to deliver this truly unique and magnificent sports precinct.”
Mr Flecker said that the capital cost of the new Perth Stadium and its surrounding Sports Precinct is around $40 million less than the original $902 million budget.
The vision for the new Perth Stadium and Sports Precinct is that it will form a permanent centrepiece for the redevelopment of the Burswood Peninsula on the Swan River.
The Stadium will be a world-class, multi-purpose venue - incorporating a range of ’fans first’ features to offer an unrivalled spectator experience.
Financial close for the project follows the recent unveiling of the new Perth Stadium and Sports Precinct design, which features an initial 60,000 seating capacity, along with an array of food and beverage concession points, superb restaurants and bars offering stunning city views across the river and into the bowl.
The new Perth Stadium will also feature 'future proof' technology including full Wi-Fi coverage and the incorporation of state of the art IT, LED displays, lighting and signage.