Perth developer Blackburne has a completion date slated for what it describes as the largest residential development project ever undertaken in Western Australia.
The $280 million redevelopment of the old Subiaco Pavilion Market site will be known as One Subiaco with plans to be completed in 2022.
Blackburne acquired the 5451sq m Rokeby Road site for $25 million from Andrew Abercrombie who had purchased the site in 2007 for $35 million.
Blackburne managing director Paul Blackburne says the project, which includes a $34 million double-storey penthouse, is attracting a large number of baby-boomers.
“The level of interest, due to its convenient location and larger higher-end residences has really been overwhelming,” he said.
One Subiaco will comprise three buildings, Rokeby, Roberts and Seddon, which will feature a mixture of 1, 2, 3, 4, 5 and 6-bedroom residences and penthouses.
Blackburne, who founded the company in 2003, described the development as situated on a “landmark site”.
Rewind to 1997 when Blackburne’s father, John Blackburne, was one of the joint venture partners on the redevelopment of Subiaco Square, at the time a major $120 million urban renewal project.
“One Subiaco is the result of years of fanatical commitment to ensuring we deliver an architectural masterpiece,” Blackburne said.
The ground floor will also comprise 16 permanent tenancies with a mix of permanent and pop up market stalls and alfresco cafes.
The public launch of the apartments are due later this year with construction due to kickoff in June next year.