Interest sky high in Blackburne’s $280M One Subiaco building

Perth developer Blackburne is gearing up to publicly launch its $280 million One Subiaco development, with interest reportedly already sky high.

Designed by Subiaco architecture firm Hames Sharley and situated on the old Subiaco Pavilion Market site, Blackburne is calling the project the largest residential development project ever undertaken in Western Australia.

GALLERY  

The jewel of the project is the $34 million double-storey penthouse, which if sold for the full price has the potential to be WA’s most expensive apartment sale ever.

A $1 million display suite will be open for viewing on October 26, with interested parties able to register to preview it before the public launch, while construction is due to begin in June next year and complete in 2022.

The three separate towers that make One Subiaco’s 5451-square-metre floorplan will have their own characters.

The Seddon development will be the site of 125 apartments with larger floorplans and views across Perth.

Containing 90 residences, the Roberts building will pay homage to Subiaco’s historic terrace houses and will have a $3 million rooftop oasis located on the sixth level.

The smallest of the trio with 22 earthy-toned residences, the Rokeby building will sit on the corner of Rokeby and Roberts roads.

The ground floor will also comprise 16 permanent tenancies with alfresco cafes and a mix of permanent and pop-up market stalls aiming to bring 5000 visitors into Subiaco each weekend day.

Blackburne managing director Paul Blackburne told WA Today the project has been swamped with enquiries before even hitting the market. “There is an impression that the market is challenging at the moment, and it is in the general market, however there is without a doubt a shortage of supply of larger high-end apartments in prime spots in the western suburbs,” he said.

“In the boom there were a lot of smaller medium- to low-end apartments built and a real lack of supply of the larger high-end stuff.

“Markets change, kids are leaving home, and the baby boomers realise they don’t necessarily need the garden, the spare bedrooms, the large house to clean or maintain, and the lack of security,” he said.

Mr Blackburne said around 50 percent of interest was coming from western suburb residents, while around 20 percent of interest was coming from investors wanting to snap up positively geared rentals in Perth, which haven’t been seen in years.

Images courtesy of Blackburne

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