Perth Airport‘s commercial property arm, Skyfields, has begun works on a 26 hectare greenfield site earmarked for retail, lifestyle, and entertainment use, marking its largest investment phase in almost three decades.
The site, known as Dunreath Green, fronts Dunreath Drive and Tonkin Highway and represents the first major land expansion at the airport estate since the 1990s. It sits roughly 15 minutes from Perth’s central business district, next to an existing retail precinct that includes Costco and DFO, and draws an estimated four million visitors a year.
Perth Airport chief property officer Dan Sweet said the site’s scale would support developments not typically possible in suburban centers, including large-format leisure concepts and flagship showrooms. Skyfields plans to bring more than 250 hectares of non-aviation, mixed-use development sites to market over the next decade.
“The completion of site preparation works at Dunreath Green signals Skyfields’ transition into a major delivery phase,” Sweet said. “While these sorts of opportunities are increasingly difficult to find so close to the CBD, Dunreath Green will be a unique chance to create a world-class destination in Australia’s fastest-growing capital city, Perth.”
Sweet said the site benefits from an established customer base, citing a vacancy rate below 1% across Skyfields’ roughly 600 existing leases.
The development is connected to the Redcliffe Station rail line, which Sweet said places the precinct within a 30-minute commute for 80% of Perth’s metropolitan population. Skyfields said that following the release of the state government’s draft Redcliffe Station Precinct Improvement Plan, it is working to integrate Dunreath Green with a planned transit-oriented town center at Redcliffe, including residential development aimed at addressing housing affordability in the area.
“We are creating a destination where people can live, work and enjoy a vibrant town center vibe, all within a A$2.80 (US$1.96) train ride from the CBD,” Sweet said.
Skyfields described itself as a “build and hold” developer and said it intends to retain long-term management of the precinct as it seeks development partners for the project.
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