It was built and funded by the State Government and the City of Perth in 1962 for the 1962 British Empire and Commonwealth Games[1] and had a nominal capacity of 30,000.

Many other events had been held at Perry Lakes Stadium over the years such as the athletics, soccer and rugby.

It has been redeveloped into a residential site and the facility has been replaced by the Western Australian Athletics Stadium,[2] which was constructed on the southern side of Underwood Avenue, which opened nearby in March 2009.

It was the venue of the Public Schools Association and Associated and Catholic Colleges of Western Australia (ACC) athletics carnivals and was also used for the Cancer Council of Western Australia's Relay for Life.

Demolition of the stadium began in April 2010, with the grandstand being demolished in September 2012.