$1bn CBD plan gets green light

The City of Perth’s development assessment panel has given Sydney-based fund manager GDI Property Group the green light to build a new 33-storey tower on St George’s Terrace as part of a $1 billion redevelopment of the Mill Street precinct.

The Mill Green project features a 40,000 square-metre office tower and broader precinct works at Mill Street and 197 St George’s Terrace, including a food and dining precinct, an amphitheatre and entertainment areas, retail space, a gym and childcare centre.

The development assessment panel agreed to approve the development plans during a meeting this morning, subject to a suite of conditions.

The decision was made based on the recommendation of officers at the City of Perth, who said the design concept was of a high quality and had the potential to transform an underutilised commercial precinct in Perth’s CBD.

The company expects work on the development to be completed by late 2024.

GDI managing director Steven Gillard said he was pleased with the approval, which paved the way for the company to move forward confidently with a development it believes presents a rare transformational opportunity for businesses and the city. 

“Mill Green will be the ideal new home for major business headquarters, significant government office space or even the creation of a world-class, dedicated professional hub that will further place Perth on the map for global industry,” he said.