In Taylor Private Estate on Suffolk Street, Caversham Village will include a shopping centre, three mixed-use and medium density residential sites and a childcare centre.
FOCUS started construction of the $12 million shopping centre in June and should be completed by May next year.
Western Corporate general manager Rod Dixon said the majority of the shopping centre had already been pre-leased by leasing agent Lease Equity.
�The shopping centre covers nearly 5000sq m with Coles as the anchor tenant occupying 3500sq m and the balance being 10 specialty stores,� Mr Dixon said.
�The fact that more than 80 per cent of the shopping centre has already been pre-leased well ahead of final construction underlined the strong confidence in this major eastern suburbs commercial development.
�It is expected that work on the adjoining childcare centre and mixed use sites will begin in early 2016.
�Over 100 new residential townhouses and apartments will also be created on these sites.�
Mr Dixon said the completion of the shopping centre would follow the opening of Lord Street between Reid Highway and Suffolk Street in December.
�It will provide a direct connection of some 700m to the centre,� he said.
�This road link is planned to be opened prior to the shopping centre opening and will significantly boost its catchment area with the centre expecting to service a surrounding population of more than 10,000 people.
�It is expected that this new retail/commercial hub will provide a range of new job opportunities in a growth corridor of Perth.�