Centre to speed up trend

THE new $310 million convention centre will accelerate the trend towards accommodation developments in the CBD causing property values to surge, NSC Corporate director Nick Stanisis said.

This has already happened in the West End CBD area with accommodation developments helping to push prices up fourfold in the past seven years.

“Because of the focus on accommodation developments, the West End now has the fastest growing property values in the CBD with values outpacing traditional blue chip addresses such as Murray Street and Hay Street malls,” Mr Stanisis said.

“While it is planned the Westralia Square site will be turned into a piazza with a 250-room hotel, the convention centre will result in further accommodation developments in the West End over the next two years prior to the opening of the new building.”