Investment boom for Fremantle

The Weekend West

16th November 2013.

Fremantle could be on the verge of an investment boom not seen since the late 1980s when Australia took out the America's Cup, according to Fremantle mayor Brad Pettitt.

Mr Pettitt said there had been more development and building applications lodged and approved in the city of Fremantle during the last 12 to 18 months than there had been for more than 25 years.

One of the many projects was the redevelopment of the Dalgety Wool Stores in Queen Victoria Street, more commonly known as Fort Knox.

The original building was part of a group of wool stores constructed in 1923 and which until recently has operated as a retail and storage space.

Rebadged as Heirloom, the three -story development sits at the gateway to the city of Fremantle and will feature New York -style warehouse apartments with high ceilings and century -old wooden beams, some with views across the harbour.

Boutique Perth -based property developer Match has just announced the release of the property's second and final stage, which is scheduled for completion in 2016.

Match managing director Lloyd Clark said 40 of the 65 apartments released in stage one in mid -2012 has sold off the plan with the initial response exceeding expectations with more than 200 registrations of interest.

"We expect that with increased market confidence and the release of apartments with views overlooking the harbour, that demand for stage two will be just as strong," Mr Clark said. "The feedback we continue to receive from the market is just how unique this opportunity is and that it honestly feels like you're living in a New York warehouse apartment."

The second stage will see a selection of one and two bedroom apartments in three separate buildings with a minimum of 3.6m ceilings and slick contemporary fit -outs, designed by architects Cameron Chisolm & Nicol. Construction on Heirloom is scheduled to begin in mid -2014 with one- bedroom apartments priced from $495,000 and two bedrooms from $625,000.

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