EG has successfully obtained development consent for a build-to-rent community at 40 Frame Court in Leederville, WA.
Located just two kilometres from the Perth CBD and well-connected to transport, the mixed-use development will combine a total of 279 build-to-sell and build-to-rent dwellings, community spaces and commercial and retail tenancies into a vertical neighbourhood. Construction is expected to commence in 2024.
“This exciting new renewal opportunity for Leederville will deliver high-quality, accessible housing at a time when Australia’s housing markets, particularly our major cities’, are ranking as some of the world’s least affordable”, said EG’s Development Director, Grant Flannigan.
“Significant change to the land tax legislation in WA has extended further opportunities to develop affordable build-to-rent and to add housing diversity and address affordability”, added Grant.
Designed by local, Perth-based architect, Cameron Chisholm Nicol, the new development will boast resident spaces including 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.
Dominic Snellgrove, Managing Director, Cameron Chisholm Nicol, commented: “Cameron Chisholm Nicol are very proud to be the architects for Frame Court and to have played an important role in securing the development approval for this significant project on behalf of our client, EG.”
Consistent engagement with the City of Vincent, Leederville Connect, and the local community throughout the planning process has driven quality design outcomes. The resulting project will deliver revitalised streetscapes, high levels of ground plane activation and resident amenity arranged within a podium and tower typology that prioritises the pedestrian and public realm.
Dr Michael Easson AM, EG’s Executive Chair and Founding Director, commented: “EG is humbled by the opportunity to enliven and add to the dynamic Leederville community. I extend my thanks, in particular, to Leederville Connect for their ongoing efforts as we work in collaboration to achieve something great.”
40 Frame Court was purchased by EG in late 2019 for $12.5 million. EG has a proven track record of creating master-planned communities of quality urban design. The Little BIG House community space at EG’s most recent residential development, the multi-award winning Flour Mill of Summer Hill, has acted as a successful pilot for the Leederville redevelopment.
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.