The Kings Square development, which will occupy one hectare in the Perth City Link and is due to be completed next year, will rival St Georges Terrace as the centre of Perth’s CBD.
Bradley Norris, project director for Kings Square 1-4 at Leighton Properties, which is constructing seven buildings on six sites at Kings Square, said the precinct would fundamentally reshape the CBD.
“Essentially this project will shift the St Georges Terrace-centric focus of the CBD,” he said.
Speaking at a Property Council gathering, Mr Norris said the project would also allow the expansion of the CBD through Northbridge, its natural progression in the future.
The four office towers – KS1, KS2, KS3 and KS4 – are due to be finished from mid-next year.
As well as the benefits of A-grade sustainable buildings, Mr Norrish said Kings Square would also deliver the highest grade office space in the CBD and amenity that would support the one million visitors expected to visit Perth Arena each year.
Mr Norris said the timing for the two apartment sites on Kings Square had not been announced. The seventh construction project in Kings Square will also be a commercial building.
Sheffield Property director Digby Sutherland said the CBD centre had moved in the past and with new buildings due to open at Kings Square next year it would shift again.
“I like to think that the Perth bus and train station is now viewed as the centre of the CBD, given that it’s right next to the main shopping malls, right next to the main arts precinct and right next to the Perth City Link development,” he said. “St Georges Terrace will always be there but I think Wellington Street will be a prime street.”
The office towers at Kings Square are being leased by Sheffield Property and Mr Sutherland said several tenants were interested in the remaining space in KS1.
Metropolitan Redevelopment Authority chief executive Kieran Kinsella said when finished Perth City Link would turn an old railway yard into a 13.5ha precinct that would be a world-class, economic driver for Perth.
“Perth City Link is the most significant transport oriented development happening in Australia,” he said.
Kings Square will sit above the new bus port servicing the CBD and Mr Kinsella said it would be the first bus port in Australia with a dynamic stand allocation where signs would direct passengers to stands as busses arrived.
When finished, Perth City Link’s 244,000sqm of commercial space will be the workplace for 13,500 people and its 1650 apartments will be home to 3500 people.
Perth Mayor Lisa Scaffidi told the property industry the City of Perth was working to create a smooth transition between Kings Square and streetscapes in established parts of the city.
“We are also considering the operational aspects of the greater city as these precincts come on line,” she said.
“We don’t want to see a decline in other parts of the city.”
Shell Australia, HBF and Leighton subsidiary John Holland will have new offices in Kings Square and the smallest of the buildings, KS3, will be home to Surge Health and Fitness, Buggles Childcare Centre and a restaurant and bar.