Yolk proposes $9m Fremantle plan

Fremantle property developer Yolk Property Group is seeking approval to build a four-storey townhouse and accommodation complex valued at $9 million.

The developer has lodged amended plans with the City of Fremantle to build five townhouses and one short stay accommodation on a bitumen carpark on the corner of James Street and Quarry Street in Fremantle’s CBD.

Yolk bought the 478 square metre site for $920,000 in August 2022, which has been vacant since circa 1960 and has been used as a private car park since. 

Under the proposal, the four-storey short stay accommodation comprises of six bedrooms and six bathrooms, as well as a roof terrace.

The five dwellings, all four-storeys, feature three bedrooms and three bathrooms, also with a roof terrace and two car spaces.

Yolk’s proposed plans, which has been recommended for conditional approval, will be discussed at the City’s planning committee on Wednesday.

The Fremantle-based property developer is also progressing its $18.2 million project at 26 – 36 South Terrace on the cappuccino strip anchored by Timezone.

Yolk bought the 3,788 square metre asset for $18.2 million from Territory Property Group in April 2022, who bought the asset in 1988 for $3.5 million from Leisure Group Holdings.

At the time, Yolk indicated plans to develop the 3,788 square metre site but is yet to disclose a timeframe for the potential plans.

The developer is also progressing its plans to build a 6-storey, 100-room hotel with a rooftop office space and ground floor cafe on a vacant site at 65 South Terrace in Fremantle.

The Western Australian Planning Commission approved Yolk’s $24 million project in July 2021, after several attempts to progress the development over the past decade.