14/12/2020 - 01:00

Perron unveils $1bn Cockburn vision

14/12/2020 - 01:00

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New experiential retail, residential and commercial offerings are part of Perron Group’s plan to shape a new town centre for Cockburn.

Perron unveils $1bn Cockburn vision
A new entertainment and dining precinct will form part of the first stage of Perron Group’s Cockburn Quarter redevelopment. Images: Buchan Group

Perron Group is confident bricks-and-mortar retail is here to stay, despite the retail disruption caused by COVID-19 and continuing growth in online shopping. Perron has backed its belief with a $1 billion investment in its Cockburn Gateway Shopping City, which is the group’s second largest retail asset in Western Australia.

Upon completion, Cockburn Gateway Shopping City will become part of the new Cockburn Quarter precinct and will house a new dining, entertainment and cinema precinct, a fresh food market, additional fashion and lifestyle brands, as well as new residential and commercial buildings. It will also feature landscaped public open spaces.

Perron Group general manager, property investments, Andrew Byars said the business had been formulating its revamp plans during the past 10 years.

“We’re still a big believer in retail,” Mr Byars told Business News.

“Good retail will continue to prosper; two thirds of online retail [sales] are through a bricks-andmortar retailer … it’s all integrated.

“It’s also about the experiential side of retail. There is a growing desire for hyper-local living and our vision for Cockburn Quarter brings together places for people to work, live, play, rest, shop, dine and connect with friends and family, along with childcare, aged care and health services.

“We’re confident that what we’re doing has market demand.” 

Perron Group lodged a development application for Cockburn Quarter with the newly formed State Development Assessment Unit last Friday, and expects construction to start within two years of development approval.

Mr Byars said the project would be delivered in stages, starting with additional retail space, cinemas, dining, entertainment and childcare services. 

“A key element of this process has been community consultation, and we have been talking to the Cockburn people about what they want and need in the area for the past two years,” he said.

“We did online surveys, focus groups and workshops.

“A huge part of the feedback has been the community’s desire for a ‘local heart’, a strong urban centre that is vibrant both day and night, welcoming, safe and accessible for everyone.”

Cockburn Gateway Shopping City currently comprises 70,078 square metres of floor space, and Mr Byars said that would expand to roughly 110,000sqm, with the retail component representing about 90,000sqm.

Following completion of the development, Cockburn Gateway Shopping City will become one of the state’s five biggest centres, according to the Business News Data & Insights list of WA shopping centres. 

The project includes new residential and commercial buildings.

The residential and commercial components would form the later stages of the redevelopment, Mr Byars said, developing an anticipated 910 dwellings, likely via delivery partners.

“It’s subject to market demand, which is wildly fluctuating at the moment,” he said.

“It’s a 20-year vision. The main reason is it gives us flexibility, we can do it in pieces as the market dictates, rather than going back through a number of other approvals.”

Creating a more walkable community was another major consideration for Perron Group, which drove the concept of a pedestrian bridge across Beeliar Drive, to connect the shopping centre and future residential buildings to the Cockburn Central train station.

The pedestrian bridge is being developed as a separate application.

“This is a significant private investment by Perron Group that will create more than 7,400 jobs over the 20-year lifespan of the project and generate an estimated $2.8 billion worth of economic activity,” Mr Byars said.

“It aligns with both the City of Cockburn and state government’s strategic plans for the area and supports the state’s economic recovery pathway post COVID-19.”

The redevelopment of Cockburn Gateway Shopping City follows Perron Group’s $65 million revamp of Belmont Forum, which was completed in 2018.

Perron Group owns two more shopping centres in WA – The Square Mirrabooka, and a 50 per cent stake in Galleria Shopping Centre – part of the group’s portfolio of 13 retail centres across Australia.

Other major shopping centre projects under way in WA include: the $800 million redevelopment of Karrinyup Shopping Centre, which is expected to be completed next year; the $100 million upgrade of Kardinya Park by local property entrepreneur Con Berbatis; and Arise Development’s new $25 million Rockingham Central, construction of which started in October.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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