Carillon City’s $400 Million Redevelopment Approved: A New Era for Perth’s CBD Commercial Landscape

Perth’s central business district is set for a significant transformation, with planning approval granted for the long-awaited $400 million redevelopment of the iconic Carillon City site. Once the beating heart of Hay and Murray Streets’ retail core, the Carillon precinct is now poised to evolve into a next-generation mixed-use destination — combining retail, dining, commercial space, and activated public realms.

The project is led by developer Fiveight, a subsidiary of Tattarang, and marks one of the largest private sector commitments to inner-city revitalisation in Western Australia’s recent history. For the commercial property industry, the Carillon redevelopment represents a renewed confidence in Perth’s CBD as a place to invest, work, shop, and connect.

Inside the $400M transformation

The new Carillon City will move far beyond its 1980s shopping centre origins. Instead, it will become a vertically integrated, open-air destination with mixed commercial use — designed to reflect modern work styles, tourism demand, and experiential retail.

Key features of the approved plan:

• A 24-storey commercial tower including office space and potential hotel integration

• High-end flagship retail and hospitality offerings across multiple levels

• Activated laneways and outdoor dining zones to re-engage Hay and Murray Streets

• New public square and performance space encouraging community interaction

• Sustainability and smart building systems integrated throughout the design

• Direct access to the Perth Train Station underpass for pedestrian flow and transport connectivity

This is not just a mall refurbishment — it’s a complete reimagination of a key CBD block, aimed at unlocking long-term commercial and civic value.

Why this matters for Perth’s CBD evolution

Perth’s CBD has faced significant challenges since 2020, including falling foot traffic, high office vacancy, and sluggish retail leasing. However, projects like Carillon City — alongside Elizabeth Quay and Raine Square upgrades — show that the tide is turning.

The Carillon project stands out because:

• It’s privately funded — showing deep confidence from WA’s own capital leaders

• It’s designed to attract both workers and tourists — creating all-day activity, not just peak-hour flow

• It prioritises experience over floor space — aligning with post-COVID demand for open, flexible, curated environments

• It connects to transport and existing precincts — rather than trying to function as a standalone draw

With 24,000 sqm of new commercial space being added to the CBD, Carillon will be a key contributor to Perth’s commercial recovery — both as a signal and as an anchor.

Commercial implications of the redevelopment

The redevelopment isn’t just about foot traffic and street frontage — it creates a ripple effect for the entire Perth commercial property ecosystem.

Here’s how:

• Boosts confidence in the CBD’s long-term future
  Developers, tenants, and funders now have a flagship precedent for inner-city reactivation.

• Supports office repositioning
  With a premium-grade tower planned, there’s renewed competition for design-led, sustainable office assets.

• Elevates Hay Street and Murray Street’s profile
  Retailers who were cautious about CBD shopfronts may now re-enter the market.

• Sets a benchmark for mixed-use outcomes
  Expect more applications to follow this model — combining public realm, retail, and commercial tenancies.

• Drives up neighbouring values
  Surrounding property owners can expect higher lease demand, more pedestrian traffic, and increased tenant interest.

Perth’s CBD has struggled with perception — but Carillon’s transformation gives it a fresh commercial narrative grounded in design, capital commitment, and place activation.

Who benefits from the new Carillon City?

The project opens doors for a wide variety of commercial players:

• Retail brands looking for a flagship presence with high pedestrian flow

• Hospitality operators seeking CBD venues with indoor-outdoor flexibility

• Office tenants needing a premium city address with amenity access

• Creative agencies and small business offices seeking dynamic central locations

• Investors and REITs seeking exposure to repositioned commercial property with built-in foot traffic

• Tourism and event operators who can leverage the public realm and visitor amenities

Carillon won’t just be a shopping precinct — it’s designed as a destination precinct, which expands its commercial relevance beyond leases and into experience economy territory.

Why timing matters — and why this works now

This development comes at the right moment. Perth is experiencing population growth, tourism recovery, and renewed investment in transport and public infrastructure.

Key timing factors:

• International student numbers are up
  Creating weekday foot traffic and demand for fast casual and lifestyle retail

• Perth Airport arrivals are rising
  Supporting CBD hotel and event demand as new commercial tenancies come online

• Public infrastructure investment is building momentum
  With METRONET, Elizabeth Quay, and Perth City Link developments converging, CBD access is improving

• Remote work is stabilising
  More workers are returning to the city — but they demand better food, environment, and flexibility in return

Carillon aligns with these trends, providing the kind of hybrid, public-facing, experience-rich destination that post-COVID CBDs require.

How we support major CBD projects like this

We’ve helped bring precinct-defining projects to life across Australia — and Carillon-style redevelopments demand layered, high-impact marketing and visual storytelling.

We deliver:

• Multi-angle aerial 3D renders and city context visuals

• Ground-level street activation and laneway views

• Commercial, hotel, and retail space marketing rollouts

• Branding and naming strategy for mixed-use towers

• Interactive site plans, lease kits, and investor brochures

• Stakeholder consultation visuals for planning and public communication

Whether you’re marketing a tower, a precinct, or a concept, we help shape your project for maximum attention and traction.

Let’s talk about marketing your next Perth CBD project

If you’re developing or repositioning a site in central Perth, we can help visualise the opportunity, communicate the vision, and deliver tools to support approvals, sales, and leasing.