When opening a food and beverage business, there are several factors to consider. Towards the top of the list, if not at the summit, is location. And with the Western Australian gastronomy scene maturing, there is growing demand for good dining options, providing exciting investment opportunities.
For prospective Western Australian food and beverage businesses, and existing endeavours looking to expand, there is no more tantalising prospect than Subiaco. Featuring the highly walkable and convenient hubs of Rokeby Road and Hay Street, Subiaco’s well-established community is reaping the rewards of a growing gastronomy scene.
Let’s look at five of the reasons why Subiaco is a prime location for your next food and beverage venture.
Population on the rise
Following a brief down period during the demolition of the dormant Subiaco Oval, Subiaco is undergoing a sizeable revival, which is being led through urban infill projects. The area has benefited from increased density through several developments in the Subiaco Common area, while the opening of ONE Subiaco has welcomed 237 new apartments at Subiaco’s unofficial entry gates – on the corner of Rokeby and Roberts roads.
Subiaco’s investment in infill developments has increased the population and housing opportunities, leading to greater foot traffic and buzz around the entertainment hubs. Over the next decade, the area will welcome an estimated 4,000 future residents at the Subi East development, and due to urban infill, Subiaco’s population is expected to grow by more than 51 per cent by 2046. With a rising population, Subiaco is well set to further its revival and food and beverage businesses are amongst some of the early movers looking to secure prime land in the area’s hotspots.
Location, location, location
Subiaco, sitting just 10 minutes from Perth’s CBD, is well-positioned for success. The area offers convenient transport links for both workers and customers and this convenience is attracting more than just food and beverage ventures, with an influx of businesses across technology, media and professional services finding a home in Subiaco.
Conveniently positioned at the northern end of Rokeby Road, Subiaco train station offers great access for those utilising public transport. The public transport links not only make it convenient for patrons to access, but also promote responsible choices and help the area, and roads, remain safe. A short walk from the train station will take you along the entertainment district, and into the bustling atmosphere along Rokeby Road and Hay Street.
An investment in additional parking infrastructure has helped promote higher engagement in the area and welcomed many visitors looking to enjoy the history and charm of Subiaco. Those driving can take advantage of free parking every weekend and evenings from 5pm. And once in the area, the streets are walkable and pedestrian-friendly to promote the community atmosphere within the suburb.
Build your business in an a historic, established community
Subiaco has been a municipality since 1897, and became the City of Subiaco in 1952. The area has been well-established in the Greater Perth area for decades and has played a big part in Western Australia’s history. Subiaco features an affluent demographic, often housing residents with higher disposable incomes. The median house price in Subiaco is $1.6 million.
Subiaco is also known for its supportive business environment, with the community’s ecosystem renowned for promoting and encouraging entrepreneurship. This works positively for food and beverage establishments, with the affluent area helping support sustainable profitability.
Residents of Subiaco also showcase great pride for their neighbourhood, which translates through the robust food and beverage scene. Ranked the most liveable place in Australia, there is no hesitancy from locals to bask in the area and support Subiaco’s business ecosystem. Platforms such as See Subiaco have worked to create a strong foodie culture and showcase local businesses through an online guide, a strong social media presence and the Eat, Shop, Live magazine. The community-first attitude and support for local business helps foster a conducive environment for growth and success, while Subiaco’s strong heritage links and historic ambiance create a unique and charming atmosphere.
Businesses can find value in operating in areas with character and a sense of history, helping them stand out in a competitive market and attract customers seeking an immersive or memorable food and beverage experience. Outdoor dining in the area’s hotspots also helps create a buzz along the renowned Subiaco strip, with patio spaces lining Rokeby Road and Hay Street, adding to the experience for patrons frequenting the area.
Sterling Property has already supported many food and beverage businesses to establish a presence in Subiaco, with recent leasing arrangements including:
- 12 Rokeby Road – a 250sqm property and alfresco area at 12 Rokeby Road leased to the operator of Shui restaurant in August 2022, bringing asian-fusion cuisine to the area.
- 40 Subiaco Square Road – formerly the Tao restaurant, Sterling Property leased this 289sqm property and 107sqm alfresco area to the operator of Shui restaurant in August 2023. The site is currently undergoing a transformation into an upmarket Mediterranean restaurant and bar offering breakfast, lunch and dinner. Separately, Sterling Property has also leased a retail shop at the rear of 40 Subiaco Square Road to a hairdresser from July 2024.
- 361 Rokeby Road – a stunning character building converted to a restaurant with alfresco dining. The building now houses Piccolo Trattoria, which serves authentic Italian food providing local residents with a fantastic dining experience. Sterling Property helped to attract the business to the area from Shenton Park.
- Shop 3, 420 Hay Street – a 75sqm retail shop leased to the operators of Relish restaurant, who will sell Chinese and Australian cuisine products from April 2024.
Culture of Excellence
Subiaco boasts a diverse range of culinary offerings, from fine dining establishments to trendy cafes and casual eateries, and the area is home to several award-winning food and beverage businesses and individuals. High standards contribute to the culture of excellence, and help attract world-class talent to the area.
This culture has born new ventures and events, such as the Subi Night Markets and Unwined Subiaco, bringing new and exciting culinary experiences to the area that also help to attract new visitors. The exposure of the new Subiaco, following the removal of Subiaco Oval, has helped breathe new life into the area.
Despite farewelling the stadium, the area remains a landmark in Western Australia, and its tremendous food and beverage scene will help carry Subiaco into its next chapter. For businesses looking for space in Perth’s hotspots, Subiaco should be a priority. The area has had a remarkable revival, and further investment in the suburb has it set for future success.
There is no better time to invest in Subiaco than now. Find your perfect space, start your journey and establish yourself in a vibrant community, on the brink of exponential growth.
Get in touch with us today, or visit us in our Subiaco headquarters, to take the first step in your food and beverage journey.
