Andrew and Nicola Forrest permitted to replace Perth mall
The Fiveight investment vehicle co-owned by Andrew and Nicola Forrest has won approval to replace the site of Perth’s ex-Carillon City mall with a residential-based mixed-use complex.
The state’s Metro Inner Development Metro Panel on Tuesday gave the green light for the $400 million project with 803 purpose-built student accommodation dwellings, in a 35 level tower, and a 238-key hotel in a 22 storey building.
A four floor podium with food and beverage, traditional retail and cinema is also planned as is a laneway connecting Hay and Murray street malls.
A basement will contain 24 car parks.
New plan for tired site
Covering 5724 square metres across 674 and 692 Hay Street Mall, the site includes a component built in 1970 as the City Arcade.
It was extended and renamed Carillon City in 1982.
Multiplex sold it for $140m in 2016 to Dexus and Hawaiian Investments which three years later proposed a 24 level office.
Fiveight paid that pair $80m in 2022; following COVID, the complex was vacant.
The $400m proposal was lodged with MIDP four months ago.
The residential component will be managed by Global Student Living.
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