The Perth CBD landscape has undergone much re-sculpturing in recent years. To the south, the CBD meets the Swan River at Elizabeth Quay, the new waterfront precinct of Perth; while to the north, the Perth City Link redevelopment is reconnecting the City with the neighbouring Northbridge area. After two years of construction and some more in planning, Yagan Square (as part of the Perth City Link) will be officially opened on Saturday, March 3, in time for the Labour Day long weekend for Western Australians. It is set to become the new heart and flagship public space of Perth.
The vision for Yagan Square is grand – to herald the return of food, community and city life at the Horseshoe Bridge, celebrating Western Australia’s produce, heritage and environment. The features that Yagan Square will showcase will do just that – a Market Hall offering a host of specialty food outlets; public art pieces and open space for cultural events, performances and celebrations; the iconic digital tower and spectacular lighting displays from the digital canopies; an amphitheatre and playground for relaxation and entertainment; and a rooftop water feature for children. A list of exciting food and drink tenants are confirmed to open their doors for business at Yagan Square, including Lena Lu, Primal Pantry, The Honeycake, Sue Lewis Chocolatier, Wheat St, The Show Bar, Ahi Poke, Jersey Jack Gelato, Shy John Brewery & Yum Cha amongst others.
Yagan Square is unabashedly a project of state significance for the City of Perth and Western Australia, which will bolster the City’s reputation and visibility. At a cost of $73.5 million, the project is also underpinned by strong fundamentals and unique locational attributes, which will ensure a high level of visitation from Perth residents and visitors and tourists alike. The development occupies a high profile heavy-traffic site fronting Wellington Street, adjacent to Perth’s Central train station. It is within easy walking distance of the retail core, and surrounded by a number of important cultural institutions, including the State Library of Western Australia, the Art Gallery and the Western Australian Museum, and the Perth Arena to the west.
MacroPlan was privileged to be part of the consultant team working with the Metropolitan Redevelopment Authority (MRA) during the design and planning phase of Yagan Square. Bringing a significant skillset of retail knowledge and expertise, MacroPlan was engaged to assess the potential for the retail and dining components which were proposed within the development, including assessment of the key principles for a successful market, the optimal mix of uses, and estimates of sales potential and rental performances. Other subsequent works delivered by MacroPlan for Yagan Square included trade area analyses to assist with liquor applications for the licenced premises on-site, an offer which adds to the overall food and dining experience at Yagan Square, providing an assortment of attractive venues for patrons to be able to consume liquor on premise together with their meals.
As property economics advisers, it is both heart-warming and exciting to see Yagan Square being unveiled – the newest addition and embodiment in the economic and social infrastructure within the Perth landscape.
To learn more about Yagan Square in Perth or to discuss your Western Australian property research requirements, please contact General Manager, Stuart McKnight or call 08 9225 7200.