Elizabeth Quay $400m skyscraper approved

A 54-storey glass tower at Elizabeth Quay has got the green light from state government, which says the tower will transform the area into the vibrant precinct it was intended to be.

The $400 million development, proposed by Malaysian developer Victor Goh, includes 70,000 square metres of office space and 176 short-stay accommodation units on the corner of The Esplanade and William Street.

It received Development WA approval over the weekend, despite being 18-storeys above the maximum height limit.

The planning body has stated it had the authority to approve buildings above these height guidelines.

CA Corporation will build the tower, which will be built at Lot 4 in Elizabeth Quay – the last remaining parcel of land in the precinct to receive development approval. 

Lands minister Tony Buti said the tower would create thousands of jobs during construction and added to six other major developments at the quay totalling more than $1.82 billion.

"On completion, this vibrant waterfront destination will play a pivotal role in supporting CBD businesses and furthering Perth's growth as a thriving modern city - delivering jobs and economic opportunities to continue driving our State's growth into the future,” he said.

"Perth CBD is growing up and building out Elizabeth Quay will help transform it into the buzzing, vibrant precinct it has the potential to be.

Last month the state government asked the developer to provide more information on the proposal before it could be approved.

At 212.4 metres, it is likely to be the fifth tallest building in the CBD, behind Brookfield's proposed Lot 5 development (212m), 108 Saint George's Terrace (214m), Brookfield Place (234m) and Central Park (249m). 

Malaysian developer Victor Goh is also behind the Capital Square precinct, which includes Woodside’s headquarters, and Elizabeth Quay's EQ development, compising two buildings currently under construction. 

Construction of the glass tower is expected to commence within 12 months.