Billionaires Andrew Forrest and Kerry Stokes will combine their resources and expertise to redevelop the historic East Perth Power Station, after the state government unveiled Minderoo Group and Australian Capital Equity as its preferred redevelopment partners.
Premier Mark McGowan announced the appointments over the weekend, with a $218 million plan to revitalise the prime riverfront site, which will be known as Koomba Kalark, which translates to ‘the place of the big fire’ in the Noongar language, referencing the site’s former use.
Mr McGowan told reporters on Saturday that Western Australia needed projects of this type for the state’s economy to successfully rebound from the COVID-19 pandemic.
An architect's rendering of the interior of the new East Perth Power Station. Image: Minderoo Group
Minderoo and ACE have proposed to create a mixed-use precinct comprising residential, commercial, recreational and tourism opportunities, with the project to create 1,900 construction jobs, and 1,300 permanent roles.
The proposal has been designed by Kerry Hill Architects, while the state government has invested $50 million to facilitate site works.
Minderoo and ACE will work closely with DevelopmentWA to fine tune the redevelopment plan for the site, which operated as a power station until 1981.
Western Power has been given the task of decommissioning the 66 kV switching yard on the site, which will open it up for redevelopment.
The McGowan government reinvigorated the redevelopment process last year, after the previous Liberal government was unable to find a way forward following the shortlisting of five potential partners in 2016.
Minderoo Group was not on that shortlist, which included ACE, Mirvac, Frasers Property Australia, Lendlease and Powerhouse City Pty Ltd.
By Dan Wilkie
