Tattarang’s property division Fiveight will lead the regeneration of the site, which is one of the largest land holdings in the Perth CBD with direct pedestrian connections between the Perth train station and St Georges Terrace.
While a number of redevelopment proposals for the Carillon site have been created in the past, Fiveight will begin a global search for the most innovative mixed-use design principles that maximise the true potential of its strategic location. This will include investing in new construction technologies and materials to deliver the next generation of sustainable development.
Tattarang Director Nicola Forrest AO said a revitalised Carillon precinct will be city changing and catalyse the re-birth of Perth’s civic heart.
“For the past 50 years, the Carillon arcades and walkways have connected the commercial and retail arteries of our growing city, however we believe its true potential as a world-class sustainable urban precinct can now be unlocked,” Mrs Forrest said.
“As the new custodians of this critical component of Perth’s city core, we are committed to delivering a new future for the way we work, visit and play in the centre of a modern, sophisticated city in the twenty-first century.”
Tattarang Chief Investment Officer John Hartman said the acquisition offered a landmark opportunity to create something truly unique in the centre of the city and revitalise the local economy after the challenges posed by the pandemic.
“We see the Carillon site as the Perth CBD’s most important retail location, with a rich history that deserves a bright future,” Mr Hartman said.
“With the site framing Forrest Place and providing critical connections to surrounding city spaces, we look forward to working with the City of Perth and the State Government to deliver a revitalised Carillon precinct that can create improved synergies between Perth’s landmark places. We look forward to working constructively with all stakeholders to deliver a truly world-class destination for all city residents, workers and visitors.”
City of Perth Lord Mayor Basil Zempilas welcomed the announcement as a major milestone for the rejuvenation of the CBD.
“This is a gamechanger for the heart of our City and it gives me great pleasure to welcome Andrew and Nicola Forrest and the Fiveight team into the retail core of our Perth CBD,” the Lord Mayor said.
“The Carillon City site development will transform the shopping precinct of our City and will help unlock the huge potential of this precinct. And now the north/south transformation of our City, bookended by Elizabeth Quay and the Edith Cowan University development, will have the Carillon revitalisation as its central pillar.
“My team’s strategic vision for the City of Perth is to build a City which is liveable, sustainable and prosperous. The Forrest’s commitment to the future of our CBD complements that vision perfectly.
“The reboot of Perth’s heart is well and truly underway – this is a tremendously exciting time for our City”.
Located in the heart of the CBD, Carillon City is strategically placed between the Murray and Hay Street malls. It is the only site in Perth that is connected to the Perth train station, cultural centre and Elizabeth Quay by pedestrian laneways, arcades and walkways, and offers connectivity between the northern end of the CBD and the Swan River.
Comprising 5,723 square metres, it is the city’s most central retail site. The precinct was originally two separate arcades – City Arcade which opened in 1970, and Carillon Arcade which followed in 1982, before the two arcades merged, forming the Carillon City shopping centre.
Fiveight’s diverse property portfolio including the redevelopment of the iconic Indiana in Cottesloe, the proposed Ningaloo Lighthouse Resort in Exmouth and the Swan Brewery.
In 2020, Fiveight purchased 190 St Georges Terrace – a 12-level A-grade office building that offers more than 9,200 square metres of leasable floorspace – with a planned relaunch of the commercial tenancies to be announced later in the year.