Subiaco, once regarded as one of Perth’s most vibrant urban precincts, had struggled in recent years to retain its character and commercial vitality. But now, the suburb is making a notable comeback. From new residential developments and hospitality venues to long-term infrastructure upgrades, Subiaco is positioning itself as a model for suburban reinvention. Business leaders, urban planners, and policymakers are pointing to the area’s transformation as evidence that strong community vision, private investment, and targeted government policy can revive even the most challenged districts.
A Precinct in Decline
Subiaco was once the cultural heartbeat of Perth, famous for its nightlife, cafés, and community events. However, following the closure of Subiaco Oval in 2018 and years of retail decline, many businesses shuttered. According to City of Subiaco data, retail vacancies in some areas reached nearly 20 per cent by 2020, compared to the metropolitan average of 8–10 per cent. Local business owners cited falling foot traffic, rising rents, and competition from larger shopping destinations as the main drivers of decline.
Community leaders at the time raised concerns that Subiaco risked becoming a “ghost precinct” unless a coordinated strategy was adopted to attract new tenants and residents. This sense of urgency laid the foundation for today’s revival.
The Catalyst: Government and Private Investment
The turning point came through a mix of public and private sector initiatives. The $227 million Subi East redevelopment, spearheaded by DevelopmentWA, created a blueprint for rejuvenating the area by introducing mixed-use housing, community facilities, and commercial spaces. This development alone is expected to deliver more than 2,700 new dwellings and generate over 2,000 construction jobs through 2035.
In parallel, the City of Subiaco rolled out precinct-level incentives for small businesses, including reduced outdoor dining fees and grants for cultural events. These measures helped new operators test the market, while long-term infrastructure projects such as the Subiaco Oval community park restored a sense of place and identity.
Private investors have also played a critical role. The Rokeby Road strip, once dotted with empty storefronts, is seeing renewed demand from boutique retailers and hospitality operators. According to CBRE data, leasing inquiries in Subiaco’s hospitality sector rose by more than 35 per cent between 2023 and 2025, a clear indication that the market has shifted.
Housing Growth Fuels Demand
Population growth has been central to Subiaco’s resurgence. With new apartment complexes targeting young professionals and downsizers, the suburb has seen a 12 per cent increase in residents since 2020, compared to Perth’s metropolitan average of 7 per cent. The influx of residents has boosted spending at local businesses and created demand for services ranging from gyms and childcare facilities to medical clinics.
The $107 million ferry plan under consideration by state authorities, which aims to expand commuter and leisure transport across Perth’s waterways, could further enhance Subiaco’s accessibility. If approved, the plan would link Subiaco more efficiently to other metropolitan hubs, increasing its appeal for both residents and businesses.
Retail and Hospitality Renaissance
The most visible change has been in retail and hospitality. Venues such as Juanita’s, Lulu La Delizia, and Bark Subiaco have become social anchors, attracting patrons from across Perth. Subiaco’s dining scene has been bolstered by a wave of specialty coffee shops and international cuisines, positioning it as a competitor to Leederville and Mount Lawley.
Hospitality data from Tourism WA indicates that food and beverage spending in Subiaco rose by 14 per cent year-on-year in 2024, outpacing Perth’s average of 9 per cent. This demonstrates that Subiaco is no longer a secondary choice for diners but a destination in its own right.
Cultural and Community Revival
Culture has been central to the suburb’s recovery. The Subiaco Arts Centre has expanded its programming, while community-led events such as the Subiaco Street Party and Twilight Markets have returned stronger than before. Attendance numbers for these events are estimated to have grown by 25 per cent compared with pre-pandemic levels, according to the City of Subiaco’s events team.
This cultural investment not only attracts visitors but reinforces Subiaco’s identity as a creative hub. The City’s arts funding program has supported over 30 local artists and performers since 2022, ensuring that the community remains engaged and vibrant.
Commercial Confidence Returns
The revival is also reflected in broader commercial confidence. Office vacancy rates in Subiaco fell from 19 per cent in 2021 to under 10 per cent in 2025, according to Colliers International. This is largely due to small-to-medium enterprises relocating from Perth’s CBD to Subiaco, attracted by lower rents and proximity to transport. Predictive analytics firm Predictive Technologies’ merger with Robex, a $2.4 billion deal announced this week, includes plans to establish a Perth-based innovation office, with Subiaco listed as a likely candidate location.
The presence of such firms signals Subiaco’s growing role as an innovation and business precinct rather than just a retail and hospitality hub.
Challenges Ahead
Despite these gains, challenges remain. Housing affordability is a concern, with median apartment prices in Subiaco now 18 per cent higher than in 2020. Community advocates have warned that rising property prices could limit diversity, pushing out lower-income households. Local infrastructure is also under pressure. Schools are nearing capacity, and transport links, particularly during peak hours, struggle to accommodate demand.
The City of Subiaco is actively seeking state support to address these pressures, including lobbying for new primary school infrastructure and increased bus and train frequency. The proposed ferry network could ease congestion if integrated with existing transport systems.
Lessons for Other Precincts
Urban planners view Subiaco’s revival as a case study for other struggling precincts. The success lies in combining long-term structural investment with short-term tactical incentives. By offering grants to attract small businesses, investing in cultural programming, and aligning major property developments with community needs, Subiaco managed to reverse years of decline.
For councils facing similar challenges, the Subiaco model suggests that bold investment and collaboration between public and private sectors can deliver sustainable urban renewal.
What Comes Next
The outlook for Subiaco remains positive. Tourism WA forecasts suggest the suburb could see visitor numbers rise by 20 per cent by 2027 if current growth continues. Business analysts predict that the retail and hospitality boom will be followed by increased demand for professional services, education providers, and health facilities.
The City of Subiaco is preparing a new five-year strategic plan that will prioritise liveability, cultural engagement, and sustainable growth. With construction on the Subi East project accelerating and cultural events drawing record crowds, the suburb is well-positioned to consolidate its recovery.
Subiaco’s story is one of resilience. From a low point defined by closures and uncertainty, it has emerged as one of Perth’s most dynamic urban centres. For policymakers, developers, and local communities across Australia, it stands as a reminder that with vision and investment, renewal is always possible.
