BGC Construction is currently in the throes of the $500-million redevelopment of the former FESA headquarters site at 480 Hay Street, in the east side of Perth’s central business district. The project includes a 360-room Westin hotel, which is slated to open in April 2018, and, according to The West Australian, helping revitalize an area that's been referred to as "drab."
The developer has teamed up with project planner RobertsDay. Jim Tsagalis, managing director of commericial real estate company Lease Equity told The West Australian that the hotel would have a rooftop restaurant and bar on the Irwin Street side. Meanwhile, there are many potential ground-floor food and drink options, outdoor areas, a cocktail bar, dine-in and takeout options and a ground-floor late-night jazz or blues venue. These 1076 square-foot to 6458 square-foot venues would be open to hotel guests and locals. “It’s going to create an active public space and central hub for the city’s east end,” Tsagalis said.
BGC will also convert the heritage Hibernian Hall into a lounge bar venue to merge the historic building into the development. A 22-floor tower on Hay Street was originally included in the development plans. However, it is on hold until a suitable tenant is chosen. For now, according to Tsagalis, the tower site will be landscaped to extend the public entertainment space near the hotel entry.
BGC bought the $8-million property under the State government’s hotel incentive scheme. At the time, the property was valued between $19 million and $26 million. The developer has boasted its pride for the “high-quality” development with “state-of-the-art” amenities it pitched as a “precinct of the people.”
Tasaglis said, “It’s a really exciting time for the city’s east end. We are at the very beginning of the gentrification of this area. Treasury has already hit benchmarks. With Northbridge, Perth City Link and Elizabeth Quay, it will all have a multiplier effect.”
He has also partnered with Brookfield on 140William Street’s food and drink outlet and on the vision for the Brookfield Place precinct.