Perth’s Latest Commercial Development Activity – May 2025

Perth’s commercial property market is experiencing significant growth in 2025, driven by major infrastructure projects, a booming industrial sector, and a wave of mixed-use developments. This surge is underpinned by strong population growth, economic resilience, and strategic investments across various sectors. This report outlines the latest commercial development activities shaping Perth’s landscape and the opportunities they present for investors and developers.

Major Commercial Developments

Perth’s skyline is transforming with a series of landmark projects redefining its commercial footprint. Significant investment in urban renewal and high-rise developments is driving demand for premium office and mixed-use spaces. These developments are not only enhancing the visual landscape of the city but also boosting economic growth and investor confidence.

• Elizabeth Quay Expansion – The Elizabeth Quay precinct continues to evolve with the development of EQ West, a $385 million mixed-use project by Malaysian-backed developer AAIG and Fini Group. This 52-storey tower will feature 484 apartments, a 190-key hotel, and retail spaces, further cementing the area as a vibrant urban hub.

• One The Esplanade – A stake in the prestigious One The Esplanade tower, home to Chevron’s headquarters, is up for sale. This 29-storey premium-grade office building, completed in 2023, offers 56,123 sqm of space and is attracting interest from investors seeking high-quality assets in Perth’s thriving market.

• City Link Project – The Perth City Link continues to bridge the gap between the CBD and Northbridge, with new commercial spaces, retail outlets, and public spaces enhancing urban connectivity and boosting commercial opportunities. The project includes new office towers, hotel spaces, and public plazas aimed at integrating business and leisure.

Industrial Sector Growth

Perth’s industrial property market is experiencing rapid growth, underpinned by strategic developments in key logistics hubs. Demand for warehouse and distribution centres is rising, driven by e-commerce and infrastructure investments. This surge is positioning Perth as a critical logistics and distribution node for both domestic and international trade.

• 14 new industrial projects totalling over 130,000 sqm are under development across Perth’s logistics corridors, with major projects focused in Kewdale, Welshpool, and Jandakot. These areas are benefiting from improved road and rail connections, facilitating faster freight movement.

• Frasers Property and Morgan Stanley’s $600 million industrial portfolio investment is expanding logistics and warehousing facilities, highlighting confidence in Perth’s industrial sector. The partnership is aimed at modernising storage solutions and improving supply chain efficiencies.

• New developments in Forrestfield and Hazelmere are pushing the envelope for large-format distribution centres, strategically positioned near major transport routes. These hubs are designed to cater to high-volume freight with state-of-the-art technology for streamlined operations.

Mixed-Use Development Surge

Developers are embracing mixed-use projects to maximise land use efficiency, blending commercial, retail, and residential spaces into cohesive urban precincts. These projects are creating vibrant communities that support business growth and residential convenience.

• Murdoch Health and Knowledge Precinct – This $200 million project is transforming Murdoch into a world-class health and research hub, integrating commercial spaces with medical facilities and research institutions. The development aims to bring together healthcare professionals, researchers, and technology providers in a single ecosystem.

• Midland Junction – The redevelopment of the Midland precinct includes commercial offices, retail centres, and residential apartments aimed at revitalising the historic area. The project is expected to inject new life into the local economy with improved amenities and transport links.

• The Peninsula Burswood – Further expansions are planned for this mixed-use community, blending luxury apartments with retail and leisure facilities alongside the iconic Optus Stadium. The area is set to become a premier lifestyle destination with direct riverfront access and world-class entertainment venues.

Sustainability and Green Development Focus

Sustainability is at the forefront of new commercial developments in Perth, driven by market demand for eco-friendly buildings and government regulations. Developers are increasingly prioritising energy efficiency, sustainable construction, and green building certifications to meet growing expectations for environmentally responsible projects.

• New projects are prioritising green certifications, energy efficiency, and sustainable construction practices. Innovations include energy-efficient HVAC systems, low-emission building materials, and solar-powered infrastructures.

• Developers are integrating solar panels, water recycling, and sustainable materials to meet ESG (Environmental, Social, Governance) standards. These initiatives not only reduce environmental impact but also appeal to eco-conscious investors.

• Perth’s commitment to sustainable urban growth is attracting investors focused on long-term environmental resilience. Local government incentives for green projects are further encouraging developers to pursue sustainable designs.

Looking to Invest or Develop in Perth?

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