22/03/2018 - 15:35

New World Trade Centre plan developed

22/03/2018 - 15:35

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The private group behind ambitious plans for a $1 billion-plus World Trade Centre development in Perth has prepared updated designs focused on the Megamart site it already owns in Northbridge.

New World Trade Centre plan developed

The private group behind ambitious plans for a $1 billion-plus World Trade Centre development in Perth has prepared updated designs using the Megamart site it already owns in Northbridge.

World Trade Centre Perth director Neil Kidd told Business News the group’s board was currently assessing whether to submit a development application (DA) using its revised plan.

“We’ve shown we can squeeze a World Trade Centre into that (Megamart) site,” Mr Kidd said.

“We’re now in a position where we can green light a DA.

“The decision we need to take as a board is do we forge ahead with a development on our own site, which is really tight, but more importantly a development where the government has not shown much interest in a World Trade Centre frankly?”

The Megamart site spans 9,500 square metres, or nearly one hectare.

By comparison, the plans unveiled early last year involved a $1.8 billion development designed by Woods Bagot, comprising a 75-level tower and a 36-level tower, extending across 2ha over the adjacent railway line.

After a year of silence on the original plan, Transport and Planning Minister Rita Saffioti effectively killed it off last month.

“The proposed site is one of the most strategic, complex and operationally-intense locations on the metropolitan rail network and it will play an increasingly vital role as Perth grows,” Ms Saffioti said last month.

“With that in mind, the process has been put on hold until the implications on the rail network and wider strategic planning can be further considered.”

 

Mr Kidd said he was disappointed the government had failed to engage with his group.

“I would have thought dialogue was better, and that’s really disappointing,” he said.

Mr Kidd declined to release the updated architecture drawings for the Megamart site.

“The architecture was a test to see what we could fit onto the block,” he said.

“Before I release this, I need to sit down with the board and see what we will do.”

Speaking earlier today at a major projects conference, Mr Kidd said the aim of the World Trade Centres project was to cultivate business-to-business ties between Australia and China.

As an example, he said the joint venture formed this year by Perth-based construction company Doric and Chinese group China Wu Yi arose from an introduction at an existing World Trade Centre.

The proposed building provided a venue for exhibitions and delegations and was designed to support the B2B introduction platform.

It would include 40,000sqm of office space, 350 hotel rooms and 300 apartments.

The Perth project is backed by a Cyprus-based reinsurance company with operations in more than 20 Middle East countries.

Mr Kidd said his group held licences to develop and operate World Trade Centres in 18 different cities.

Globally there are licences for 322 World Trade Centres, including 46 in China and 40 in the US.

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