Fremantle’s Atwell Arcade is set to be redeveloped into an office and retail complex with an end value of $30 million, after the City of Fremantle gave its tick of approval to a revised plan at a special meeting of council last night.
Business News reported last week that the city had told developer Silverleaf Investments to revise its plan for the third time, after it didn’t match up with the council’s heritage expectations.
The proposal is for a 3,000 square metre, four-storey office building in between the two heritage buildings that bookend the Atwell Arcade, which is also set to be redeveloped into a significant retail space.
Silverleaf Investments’ Gerard O’Brien said a major tenant had been lined up for the retail component of the site, while 80 per cent of the office space had also been leased.
The office building will cater for up to 300 workers, which will provide a significant economic boost to the ailing Fremantle city centre.
Construction is set to begin in early January, while the project will take around 14 months to complete.
