EG has submitted a landmark proposal for a mixed-use development that combines build-to-sell and build-to-rent dwellings, three community spaces and four commercial tenancies into a vertical neighbourhood at 40 Frame Court in Leederville, WA.
The plans comprise a 5-storey podium, 16-storey tower, and 25-storey tower totaling 279 dwellings on the doorstep of transport links in the Leederville town centre. The diverse project will reimagine the site that is located approximately two kilometres from the Perth CBD and is currently occupied by a low format office building.
“This development is about more than renewal for Leederville, it’s about investing in the neighbourhood,” said EG’s Development Director, Grant Flannigan.
“EG doesn’t cut and run – we like to curate places that put people first. It’s our hope that 40 Frame Court will be a place where locals are proud to live, visit or even own a home.” Flannigan continued, “For this reason, the plans have been carefully designed to include a range of homes – everything from co-living to build-to-rent studios and four-bedroom family apartments.”
Proposed resident spaces include a rooftop pool, BBQ area, extensive open landscaped areas, a gym, private dining room, residents lounge, children’s play area, media room and communal veggie garden.
Designed by local, Perth-based architect, Cameron Chisholm Nichol, the final development application has been carefully iterated over years of extensive collaboration with the City of Vincent and local community group, Leederville Connect. A series of workshops have informed the inclusion of a flexible art gallery, open co-working space and community multi-purpose centre that will operate in partnership with wellbeing-focused not-for-profit, Little BIG Foundation.
“EG’s willingness to seek local input and consider feedback and ideas with Leederville Connect should be an example to other developers with an interest in making Leederville – or any precinct – a great place to be. We hope our ongoing discussions will result in much needed places for our diverse and creative community to grow,” said Leederville Connect Chair, Anna Kelderman.
The 40 Frame Court Development Application will be on public exhibit with the City of Vincent until 6 September 2022. The apartment and commercial spaces are expected to come to market in 2023.
40 Frame Court was purchased by EG in late 2019 for $12.5 million. EG’s most recent residential development, the multi-award winning Flour Mill of Summer Hill, is a master-planned community in Sydney’s inner west that was delivered for the Fund’s predecessor under the same strategy.
The Flour Mill of Summer Hill incorporates the adaptive re-use of its industrial heritage to feature 360 homes and host the popular Flour Mill Markets. The recent launch of the Little BIG House community space at the Flour Mill has acted as a successful pilot for the Leederville plans.
Founded in 2000, EG has $5.1 billion under management on behalf of super funds and private wealth clients to generate outstanding returns with lasting social impact. With $3.9 billion in development pipeline, and 16.7% per annum in realised IRR for institutional funds, EG is committed to finding a better path to better returns.