Construction Sector Set to Deliver Almost $257 Billion Worth of Opportunity in 2022/23
According to the latest forecast by the Australian Construction Industry Forum (ACIF),…
22 June 2022
Kerry Stokes-backed developer Flagship had been given the green light to build a 27-storey tower in the Perth CBD on Wellington Street. This project is set to be $180 million in value.
DevelopmentWA has approved the plans for the office tower on a 4,153 square metre lot. The Kings Square 5 commercial tower comprises 20 floors of office space, 3 levels of co-working and conference centres, and recreation facilities on the mezzanine, as well as 3 restaurant or cafe tenancies, a tavern and a landscaped plaza on the bottom floors.
This commercial tower is one of 7 towers in the precinct and is part of the $5.2 billion Perth City Link project, which aims to reconnect the Perth CBD with Northbridge.
The site is owned by Kerry Stokes’ Seven Entertainment, a subsidiary of Seven Group Holdings, and is set to undergo substantial production in the next 4 years.