Perth’s largest undercover markets may become a thing of the past, with owners of the Station Street Markets expected to lodge an application for a four-storey development on the site with the Metropolitan Redevelopment Authority.

The markets have been a fixture of Subiaco life since the early 1980s but stall owners received a letter last Thursday from landowners Seacorp Holdings informing them of a development application for the site.

The Station St markets have become a fixture of the Subiaco markets but could become a thing of the past. Credit:Station St Markets website

The project, a joint venture between Seacorp and private property developer Greg Pearce, would see a Coles supermarket and speciality shops housed on the ground flood.

The second storey would be a 4000 square metre Target and there would also be two levels of office space and 400 parking bays.