Yagan Square market hall officially a failure as remaining three tenants to be relocated by DevelopmentWA

Yagan Square market hall is officially a failure with confirmation the three remaining tenants will be relocated while DevelopmentWA ponders its future use. The Yagan Square development, which was part of larger $5 billion project to sink the rail line, was billed as a “world-class destination”’ when it opened in March 2018, with Premier Mark McGowan saying the new heart of Perth could top Melbourne’s iconic Federation Square. The market hall was touted as a showcase for some of the State’s finest gourmet produce and a huge drawcard for interstate and overseas visitors. But even before COVID struck the market hall was labelled a white elephant by tenants. In March there were 13 vacancies inside the market hall and just nine occupied shops. Just months later only three tenants remain. A Vietnamese cafe with a cult following is the latest business to shut up shop, citing rising rents and low patronage for the decision. Le Vietnam owner DJ Lee said he wouldn’t be surprised if the remaining businesses — Hiss and Smoke, Godzilla, and Gangnam Korean, also closed. He said the final straw was management telling him to relocate to a “dead spot” or leave. With his rent almost doubling he has chosen to get out. “When Yagan Square opened the place was pumping. But after this honeymoon period things started to die out,” he said. “Around six months in Sue Lewis Chocolatier pulled out partly because the air conditioning was poorly designed and her chocolates were melting. Then Soul Provider left as well as Primal Pantry, then a Mexican place. “They were there from day one and didn’t survive and this was before COVID struck. “The market hall wasn’t as busy as it should be. Promises of 100,000 people a day in foot traffic never eventuated.” Mr Lee took a punt and decided to expand his booming Barrack Street store and open a second shop in the market hall. “The shop was fully fitted out and we had a strong team at our shop on Barrack Street so we decided to divide and expand,” he said. But when COVID struck more left. Jersey Gelato, Fishboss, Wheat Street, Ahi Poke Bowl, Deli, Toast My Curry, Henry Little, Troublemaker and Honey Cake. Now almost two years to the day since he opened in Yagan Square Mr Lee is also leaving. “They don’t want people to know it is a ghost town,” he said. “There has been a lot of different management overseeing Yagan Square which has come under criticism because it wasn’t as busy as it should be. Not even 10,000 people are walking through,” he said. “COVID definitely impacted businesses and tenants were given six months free rent but now they have doubled our original rent.” Mr Lee blamed the design and layout of the market hall for some of the problems facing tenants. “Customers are bypassing the food hall,” he said. “When I was living in Paris and Italy when you exit train or bus you are forced to walk through the complex and you might grab a drink here, a pizza slice there. “The problem with the Yagan Square food hall is it is too easy for people to walk right past it. “While weekend nights could be very busy especially when there were events on at the Arena, at other times of the day there is no one walking through.” Toast My Curry owner Pankaj Sharma spoke publicly in March when he decided to leave the Yagan Square Market Hall after three years. He has now opened a new shop in East Victoria Park and operates his food truck at various venues around town including Yagan Square. DevelopmentWA executive general manager of planning and transition, Matt Ryan, acknowledged trading conditions had been difficult . “We have listened to our tenants and are acting to deliver positive change at Market Hall,” he said. “Works will shortly commence at Market Hall and DevelopmentWA is investigating a range of options and committed to identifying the optimal use and the best possible outcome of the reconfigured space. “The remaining operators inside (the) market hall are being relocated to new external facing premises — which will improve visibility, and give them direct exposure to passing foot traffic.” “Fit outs of these new tenancies are expected to be completed by late 2021.” Mr Ryan said it was anticipated that development of surrounding land at Perth City Link will further benefit Yagan Square, including Edith Cowan University’s planned inner-city campus which will be delivered on the adjoining land under the Perth City Deal, bringing 10,000 students and staff to the area.

Yagan Square market hall officially a failure as remaining three tenants to be relocated by DevelopmentWA

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