14/08/2020 - 06:00

Multiplex wins $280m Subi project

14/08/2020 - 06:00

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Blackburne has appointed Multiplex to build its One Subiaco development on the former Pavilion Markets site, with 80 per cent of apartments already sold.

Multiplex wins $280m Subi project
Construction is expected to start on ONE Subiaco next month. Photo: Hames Sharley

Blackburne has appointed Multiplex to build its One Subiaco development on the former Pavilion Markets site, with 80 per cent of apartments already sold.

Work is expected to start on the project, located on the corner of Rokeby and Roberts roads, in September 2020.

Blackburne managing director Paul Blackburne said about 80 per cent of the 245 apartments, which were spread across three buildings, had been sold, including most of the level 21-24 upper penthouse floors.

He said sales had continued strongly during recent months, with most expected to be sold prior to completion and construction estimated to finish in late 2022.

“Subiaco is in the middle of a major transformation that will once again make it a vibrant, diverse and connected place to visit or live,” Mr Blackburne said.  

“One Subiaco is an important project for Western Australia; it will provide a stunning symbol of the strength of the local market for larger high-end apartments and create up to 1,100 jobs during construction. “

The ground level of the development will pay homage to the 5,451 square metre site’s heritage, as a marketplace, comprising 14 new shops as well as cafes, bars and restaurants to reopen as a renewed Subiaco Markets.

Mr Blackburne said the project, which would include resort-style amenities and services, had attracted local downsizers as well as those seeking to gain a foothold in the property market for the first time.

“The success of One Subiaco shows continued strong demand for larger higher end apartments in Perth despite recent national and global events,” he said.

“This development shows that if you offer a good value product that the demand especially in the western suburbs is strong.

“There is a significant undersupply of larger high-end residences and we are excited to release our new project called The Grove Residences on the border of Claremont, Peppermint Grove and Cottesloe soon.”

Multiplex managing director Chris Palandri said One Subiaco would be one of the largest mixed-use projects under construction in Perth over the next few years.

“Multiplex has a long history of delivering some of Perth’s most recognisable and significant buildings, and we look forward to working with Blackburne to achieving another outstanding result,” he said.

“As locals ourselves we are very aware that our work on One Subiaco will be helping to transform one of Perth’s most loved suburbs, so our focus will be on ensuring quality at every stage of construction so that residents and visitors can be proud of this new destination.”

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