Premier Colin Barnett today announced that WA’s new multi-purpose stadium would be built on the Burswood Peninsula and is scheduled for completion in 2018.

The new Perth Stadium will have the third-biggest capacity in Australia and will be the second largest AFL home stadium.

It will have a capacity of 60,000 seats with provision for future expansion to 70,000 seats in the style of Melbourne’s Etihad Stadium, with similar views, amenities and comfort.

This capacity range will more than adequately provide for both members and corporate seating and general admission and visiting team supporters.

“Burswood Peninsula is unconstrained by surrounding development and Government-owned, which will allow us to achieve the vision of a world-class stadium precinct,” the Premier said.

“The new stadium will be the centrepiece of an emerging eastside precinct at the gateway to Perth and is within walking distance of a range of potential transport options including footbridges, ferries, and trains.

“We want people going to the stadium for an event to catch public transport. The new Perth Stadium will deliver a high quality, state-of-the-art facility all West Australians can be proud of.

“To help us achieve this, there will be an international design competition to attract the best ideas.”

The final cost would be determined after the design process has been completed. However, the current indicative cost for the stadium is approximately $700million, excluding costs associated with upgrades to transport infrastructure.

Sport and Recreation Minister Terry Waldron said a steering committee would be established to oversee the project.

 “The committee’s first task will be to create a master plan for the stadium precinct, including a decision on the exact location and a detailed costing of the project,” he said.

“It will look at details such as possible retractable seating, adequate amenities, the style and size of seats and the allocation of seats to members, corporate, public and supporters of visiting teams.”

AFL commission chairman Mike Fitzpatrick said the stadium would provide a tremendous boost for AFL in WA and deliver millions of dollars in revenue for the state.

"The new stadium at Burswood will be a world-class facility, provide world-class amenities and (it will be) an unparalleled experience for fans."

Fitzpatrick said the stadium would allow the Fremantle Dockers and West Coast to grow their member base.

Fremantle chief executive officer Steve Rosich said that as part of the transition to the new stadium, the club would provide its members with priority access to the stadium once it was completed.

“We look forward to working with the Government and the steering committee to help deliver a stadium that will not only be a great asset for the State but also for our football club and our highly valued members,” Rosich said.