By Vanessa Cavasinni, editor Australian Hotelier
Brookfield has spent $11 million on revamping Perth’s historic Palace Hotel, restoring the interior and the exterior of the three-storey building. Inside, the remaining ground floor is currently being marketed for retail tenants, while the first through to third floors have been converted into office space.
The Palace Hotel has a long history of transformation. It was originally built in 1895, during the gold rush period and in 1981, the building was redeveloped to house a bank. Having purchased the property in 2007 as a result of their acquisition of Multiplex, Brookfield has now restored the heritage-listed building, and has refitted the interior for high-end retail on street level along with South 32’s reception area.
Woods Bagot, the architectural firm tasked with the restoration of the Palace Hotel, have taken tenancy of the first and second floors, and will relocate their Perth offices to the hotel in May, once the fit-out works for their studio are complete. The fit-out will be a mix of traditional touches in deference to the hotel’s history, and a more modern style of interior design.
The property also encompasses a 52-level office tower which overlooks the Swan River.