Special Report: Retail revival

The growth in Western Australia’s retail property market is fast approaching that of the state’s commercial offices and industrial sectors.

With Western Australia’s new housing market continuing to boom and cashed-up consumers upgrading to better fridges and lounge suites, the state’s bulky goods retailing sector is basking in the state’s prosperity.

Their stores occupy some of the most exclusive real estate in the world, but with retail spending at an all-time high in Western Australia, luxury brands such as Versace, Tiffany & Co, Chanel and La Perla are suddenly taking notice of Perth.

Retailers may be enjoying some of the strongest market conditions on record in Western Australia, but their landlords are making sure the good times are shared around.

With hundreds of millions of dollars being spent on the development of new shopping centres in Western Australia, the design of the centre can make or break it.

Beldon Shopping Centre may appear to be an unremarkable neighbourhood shopping centre in the northern suburbs, but a major refurbishment during the next 12 months aims to transform it into one of Australia’s first six-star Green Star centres.

Retail property owners and developers may be keen to build new shopping centres and expand existing assets amid WA's booming population and prosperity, but they face a number of planning challenges at a state and local level to achieve their goals.