8th December 2016.
Fremantle has a new Heirloom.
Following a heritage rejuvenation project by property company Match and joint-venture capital partner Sirona Capital, the iconic and heritage significant Dalgety Wool Stores along Queen Victoria Street is now Western Australia’s largest residential heritage renewal of its kind.
The opportunity to develop the 94-year old, three-storey structure into New York-style industrial warehouse apartments was identified by Match in 2007, following a string of successful and celebrated heritage renewal projects introduced by the company, including Home in Perth, Maymont in Maylands and The Clocktower in Inglewood.
Mr Lloyd Clark, Managing Director of Match parent company M/Group, said the “Heirloom” project was incredibly challenging but was just too important to Perth not to pursue.
“Match entered the Perth market in a period where apartment living was only starting to be recognised as a genuine lifestyle choice and people were only beginning to seek out signature residences as opposed to large-scale ‘cookie-cutter’ environments,” Mr Clark said.
“The company’s propensity to take brave steps in development worked hand in hand with its mission to save Perth streetscapes from excessive repetitive structures. We grew a fascination for identifying and salvaging what we considered to be some of the City’s most treasured heritage buildings.
“We knew the risks involved in tackling these projects, but saw it as an opportunity and didn’t want to see amazing architecture be left derelict and eventually deteriorate, as is often the case. The Dalgety Wool Stores definitely fell into this category and its completion is without question our biggest achievement in the company’s 15 years history.”
The heritage listed Dalgety Wool Stores was originally designed in 1922 and constructed in 1923. The building received a single storey extension along Beach Street in 1942, with a three-storey structure and extension to raise the entire floor level in 1944.
This included the infamous saw tooth roof structure, which has been restored in the heritage renewal process. The building was subject to some additional works leading up to the completion of the main structure and sunroof in 1950-52.
To support Match’s $68 million refurbishment, Sirona Capital was invited to join the endeavour as joint-venture capital partner in 2014 and the project emerged as a key development in the City of Fremantle’s $1billion investment plan that would open activity onto Beach Street and extend the City’s life-centre along its gateway.
Sirona Capital Managing Director Matthew McNeilly said the partnership with Match had delivered an outstanding residential development that was both unique to Fremantle and in keeping with the city’s character and history.
The Heirloom renewal retains much of the building’s original historic features, such as the century-old jarrah beams, brickwork and the infamous saw tooth roof structure. An original wool press has been restored and is displayed as an instalment, and homage is payed to the building’s importance to the wool trade in murals and artworks throughout.
The new apartments vary in size and configuration with a starting price of $495,000. The residential complex is already 80% sold out with sales expected to escalate now that people can see the end product.
“Heritage fabric is invaluable and sales have reflected the fact that these apartments cannot be replicated,” Mr Clark said.
“This translates into specialised boutique product that can often withstand varying market conditions because demand is isolated.
“Heirloom has been a mammoth undertaking and we consider it a highly successful restoration of a magnificent building that frankly deserves a new life.”
The Heirloom renewal is designed by project Architect, Dominic Snellgrove from Cameron Chisholm Nicol and was constructed by construction company, Built.
Heirloom will be officially opened in the coming weeks with residents expected to move in in early January 2017.