Fate of historic Perth hat shop awaits as high-rise potential brims

Part of the Barrack Street streetscape for close to 120 years, the unique two-storey character building known as the Stockade Building is best remembered as home to The Stockade and Top Hatter, a clothing and hat outfitter.

Officially, however, the property – which sits adjacent to a striking laneway street art mural – is known as the Trouchettes Building,  a nod to Alexander Trouchet, the chemist who ran a pharmacy on the site from 1915 to 1949 as Swan Pharmacy and Drug Co.

After becoming vacant in 2015, the site ran into neglect and was boarded up for many years, becoming home to squatters until 2022 before it was cleaned up for sale.

The building has historical value as a commercial building constructed following the gold rush during a time of expansion and development in the city, according to the Heritage Council of Western Australia.

“It has aesthetic significance for its contribution to the Barrack Street streetscape,” a Heritage Council statement reads.

Architecturally, the building features a “battlement parapet and prominent, moulded cornice. There are Romanesque-style relief columns on the corner and between the paired windows.”

However, it is not all intact. “The verandah and original detail at ground floor has been lost. Some of the upper windows are not original, and an air con unit is intrusive.”

Previous development approvals on the site, at the intersection of Barrack and Wellington streets, have allowed buildings up to 10 storeys high.

The site, subject to flexible zoning, has the potential to be turned into a landmark hotel, office, student accommodation or a mixed-use redevelopment.

Perched on a 536-square-metre freehold site at the high-traffic corner, the prominent CBD parcel includes adjacent land.

Knight Frank’s Zach Schreier and Tony Delich are marketing the site as a “rare cornerstone opportunity” in one of the city’s most dynamic locations near Edith Cowan University’s new state-of-the-art campus, known as ECU, and transport links just 150 metres from Perth train station.

“This is a landmark site that’s long overdue for a new chapter,” says Schreier.

“It’s positioned on one of the CBD’s most prominent intersections and has the scale, zoning and foot traffic to support a meaningful development outcome.”

Delich said the City of Perth had already acknowledged the site’s long-standing development potential.

“There’s a history of approvals on this site – including hotel and commercial schemes up to 10 storeys – which confirms the city’s ongoing support for substantial redevelopment,” he says.

“We expect strong interest from developers looking to capitalise on the activity driven by ECU’s relocation and the growing momentum in this end of the city.”

Palassis Architects had planned a six-storey $4.5 million heritage-friendly and energy-efficient development in 2013; however, the project stalled.

Delich says the campaign has been going “really well”, attracting much interest from investors looking at two main development possibilities. 

He sees investors refurbishing the existing building, restoring its character and repurposing it into something modern and appealing, such as a bar or an eclectic venue; a destination space that stands out from typical office or retail.

Otherwise, he says developers would look at retaining the heritage façade and constructing a multistorey building for student accommodation, co-living, or similar.

The site features a base plot ratio of 5:1 with bonuses (STCA), allowing for the total floor area in a new development to be five times the size of the land area.

This floor area can be spread across multiple levels. Bonus plot ratio is typically awarded for including public benefits such as affordable housing, laneway activation, or public open space.

The property is for sale via an offers to purchase campaign closing on August 12.