Colliers International targets commercial buyers in new campaign for six-cottage terrace.
A developer with an appreciation for heritage is sought to buy an entire block of six convict-built terrace houses in Fremantle.
Known as Warders 1, the two-storey terraces are located at 19-29 Henderson Street and occupy a 1319sqm site in the heart of Fremantle’s CBD.
Warders 1 is part of the State Heritage-listed Warders’ Cottages that comprise three distinct sets of terrace housing built from the 1850s, most of which have now been sold.
The owner, the Heritage Council of Western Australia, is hoping to secure proposals that will be compatible with the exceptional significance of Warders 1, the earliest of the terraces.
Warders 1 will be offered for sale in one line to commercial buyers in an expression of interest campaign steered by Colliers International with offers from $2.8 million considered.
Colliers International Executive Investment Services Tory Packer said Warders 1 offered an exciting opportunity for a commercial buyer to adapt the cottages into contemporary accommodation or for other uses.
“As we have seen elsewhere in Fremantle and Perth, savvy developers have seized the opportunity to adapt heritage buildings into unique businesses, using the history of the place as the drawcard to bring customers in,” Ms Packer said.
“Warders 1 represents a great opportunity. Located in Fremantle’s busy commercial centre, it is close to Fremantle Markets, the city’s popular cappuccino strip, restaurants and local amenities.
“Our client, the Heritage Council, is looking for the right buyer with the right proposal to adapt this historic property.”
Ms Packer said the entire Warders’ Cottages had attracted significant interest since they went on the market in November, the first time they had been offered to private buyers since they were built 160 years ago.
“Close to 3,150 people inspected the Warders Cottages when they were offered for sale in late 2016, making it one of Perth’s most popular real estate projects last year,” Ms Packer said.
Three cottages in Warders 2, at 31-41 Henderson Street, sold in one line for $1.7 million in January. Of the six cottages in Warders 3, four have sold for an average price of approximately $600,000, and the remaining two are under offer.
The 15 limestone cottages were built by convicts to house Fremantle prison warders and their families, and are one of the earliest examples of terrace housing in Western Australia.
The State Government invested $3.3 million to restore the terraces through its Heritage Revolving Fund which reactivates disused publicly-owned heritage buildings.
Expressions of interest for Warders 1 will close on May 24.