This article is from the Australian Property Journal archive
MORE than 2,000 sqm of land in Fremantle’s harbourside Woolstores precinct with approval for a 72-apartment development has hit the market.
A short walk from the Fremantle CBD and train station, the 1 Beach Street site was home of Fremantle Foundry Engineering Co for more than a century and has now been cleared.
Under mixed-use zoning, it can built to over six levels and 18 metres of height and has expansive views courtesy of 39 metres frontage to Beach Street and is close to the Stirling Highway.
CBRE’s Derek Barlow and Lachlan Andrew have been appointed to manage the expressions of interest campaign that closes September 6.
“With more than $2.3 billion in public and private projects planned, underway or recently completed, the cosmopolitan port city of Fremantle is in the midst of an exciting modern renaissance, which is driving substantial growth and demand across all sectors,” Barlow said.
“The Mayor of Freo is eager to see more inner-city residential options to coincide with the thriving social and play aspects dispersed throughout the city.”
Perth-based property group has just acquired the 1927 Elders Woolstores building and is planning a 20,000 sqm residential and commercial redevelopment worth tens of millions of dollars, while mining billionaire Andrew ‘Twiggy’ Forrest and his wife Nicola are planning a $35 million boutique hotel for the Spicer building site adjacent to the Fremantle Markets.
“A property of this nature provides developers the chance to secure a project site of scale in a desirable location, overlooking the Indian Ocean and Fremantle Port,” Andrew said.
“Sites offering immediate development and commencement of construction offer an opportunity to take advantage of elevated demand for housing in the Fremantle city centre.
He said with the site also offers appeal for build-to-rent operators given residential vacancy rates are below 1%.
