Perth CBD Scheduled for Exciting Makeover

Recently, concept images of the future City Square were released to the public. We are excited about City Square, both personally and professionally. We are excited personally because it looks like the CBD is going to be a lot of fun in the future. So, why are we so excited professionally?

Perth Arena - City of Perth

At Investors Edge, our first reaction to any piece of news is, “How will this affect investment property in Perth and its suburbs?” We love Perth, but we also know that the CBD could stand a bit of improvement. What’s good for the CBD is good for everyone with investment property in the Perth market.

City Square: What Is It?

City Square is a project that is designed to revitalise the CBD by creating a destination where the people of Perth can enjoy what Premier Colin Barnett calls “a dynamic new destination” which can “become one of (Perth’s) most significant places.”

The centrepiece of the project will be the Horseshoe Marketplace, designed to provide fresh food markets reminiscent of those 90 years in the past. Ideally, the marketplace will allow Western Australians to reconnect and celebrate our culture and our past on a regular basis, while fostering a greater sense of community within the CBD.

If all goes as planned, “tens of thousands” of people will pass through Horseshoe Market on a daily basis. According to Planning Minister John Day, City Square will be “a place where people can enjoy events, public art and open spaces in the heart of the city,” while enjoying full access to Perth businesses and transport.

City Square will also feature kiosks, an urban rooftop, play spaces, retail spaces, Aboriginal art and terraced landscaped walkways.

What It Means for Your Investment Property

On the heels of the Fremantle rail tunnel and the awarding of contracts for an underground bus station totaling $249 million, we applaud the City of Perth for its efforts to keep Perth vibrant and relevant. This ensures that suburbs with easy access to the CBD will continue to provide strong capital returns for property investors.

With every improvement in transport and every added amenity, Perth property becomes more attractive.

Our buyer’s agents and property management team in Perth can provide more information: Call 1300 472 427.

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