An upgrade of Morley Galleria Shopping Centre is slated to open by Christmas 2026 as early works on the $240 million redevelopment have started.
Vicinity Centres today announced the main construction over the Galleria revamp would start in September.
The shopping centre on the corner of Walter and Collier roads is owned by Vicinity Centres and Perron Group.
In its FY25 report published today, Vicinity listed its share of the overall investment as $120 million.
Vicinity also valued the redevelopment at about $240 million in its construction date announcement today, despite earlier reports that estimated the project cost to be $350 million.
Business News understands original plans were adapted to reflect market conditions with the redevelopment to be constructed in a staged approach.
This stage of redevelopment covers a two-storey fashion mall, a new alfresco dining precinct, about 100 retail tenancies, an entertainment precinct and major upgrades to the centre court.
“This next stage of Galleria’s transformation is about creating a destination that truly reflects the lifestyle and expectations of our community,” Vicinity project director James Fudge said.
“We’re excited to deliver revitalised fashion and lifestyle malls, new entertainment experiences, and a fresh retail mix that will bring renewed energy and connection to the heart of Perth’s north east.”
Vicinity and Perron received approval over the $350 million redevelopment plan in 2016.
However, the project was shelved in 2019 because of weak retail market conditions despite the project team going through multiple redesigns.
In February, a development assessment panel approved minor changes to the application.
Vicinity valued Galleria at $310 million as of June 2025, the company said in its annual report.
“The acquisition of Lakeside Joondalup, the forthcoming redevelopment of Galleria and divestment of four non-strategic assets reflects Vicinity’s deliberate strategy to recycle and redeploy capital to right-size and strengthen our portfolio in WA, with the right assets for long-term growth,” the report read.
Vicinity acquired a 50 per cent stake in Lakeside Joondalup for $420 million in August 2024.
Shares in Vicinity were trading at $2.60 each, up 2.56 per cent as of 1.38pm AEST today.
