3rd May 2014.
Perth’s answer to a New York-style warehouse apartment lifestyle is starting to take shape at the site of the historic Dalgety’s Wool Store — or Fort Knox — in Fremantle.
A display suite was recently opened at the massive Queen Victoria Street site to give prospective buyers a firsthand look at what warehouse living at Heirloom will entail.
The harbour side project is a joint venture between boutique developer Match and Sirona Capital, with 40 per cent of Heirloom already sold.
“It’s around a 50:50 split of owner-occupiers and investors, which was pretty much what was expected,” Match managing director Lloyd Clark said.
“We are finding that many investors are driven by the inherent value of the property — something that is unlikely to date — as well as the sheer magnitude of Fremantle.
“Basically it is a timeless, solid product in an environment that is about to take off with $1 billion of investment.”
Heirloom will have oversized one and two-bedroom apartments, all developed using original roof space and strategically designed dividing walls.
Features will include high ceilings, exposed century-old wooden beams, white joinery, stone benchtops, Bosch appliances, feature lighting and harbour and ocean views, and they will look on to an open atrium that will make use of the building’s existing saw-tooth roof.
“We have introduced a new industrial-inspired scheme to reflect the New York warehouse theme,” Mr Lloyd said.
“The other themes tend to be sleek and high-end fit-outs so this scheme is a little different and has been architecturally developed.
“It includes a concrete tile-look floor, large industrial-style bench sink and industrial styling.”
Construction is expected to start late this year and be completed by mid-2016. Heirloom prices start at $495,000.