Perth’s run-down Carillon City has taken a step closer to being redeveloped after Fiveight submitted its $400 million plus proposal.
Forrest-owned investment group Tattarang’s property division purchased the site two years ago from Dexus. Dexus purchased the property in 2016 for $140 million but later scrapped a $200 million plan to demolish and redevelop the space.
The redevelopment of the 5723 square metre site will be one of the largest landholdings in the CBD and will be led by Fiveight chief executive, Paige Walker.
Walker said the proposed redevelopment has been created with the City of Perth’s Strategic Community Plan 2022-2032 in mind.
“Our team are looking forward to progressing the development application in collaboration with the City of Perth, state government, cultural advisors, partners and investors,” she told WAToday.
“We look forward to providing further information following the approval of the development application.”
The revamp is set to include a 17-storey tower with a hotel, a four-story retail and food precinct and a 30-storey student accommodation building.
The arcade had direct pedestrian connections between the Perth train station and St George’s Terrace.
Azzet has contacted the City of Perth for comment.