The planning application for ISPT owned Forrest Chase development was approved on Thursday 19 March 2015.
Forrest Chase is set to undergo a $100 million redevelopment that will reposition the shopping centre into a world class retail complex complete with fashion firsts, flagships and an exciting food offer.This will mark the biggest transformation of the retail centre since its doors opened in 1988 and will set a new benchmark in the CBD, with plans to attract the ‘best in class’ retailers to the precinct. Situated in the heart of the Perth CBD, directly linked to Perth Train Station and Murray Street Mall, Forrest Chase is truly ingrained as an iconic shopping destination.
Responding to current local and international trends, the ISPT development will also see the revamp of the building’s current design. Uniting Forrest Chase and City Central as a single identity, the development proposes a significant upgrade to the building façade and adjacent elevated pedestrian walkways. ISPT is one of Australia’s leading property fund managers.
Chris McCluskey, General Manager Development Services at ISPT, said “We are excited about the prospect of this development and are in discussions with leading international retailers that are targeting Perth because of its strong retail market and potential. The project will modernise one of the city’s most popular shopping precincts and will reconnect the retail, pedestrian and civic realms’’.
ISPT and the City of Perth are working together to deliver the best outcome for the Perth CBD, with the final delivery of the new Perth Retail Original due to launch in 2017.