- Construction now underway with works expected to be complete in late 2022
- Expected to created up to 1,600 jobs during construction and hundreds more once complete
- Former Pavilion Markets site will be transformed and breathe life into Subiaco
- 80 per cent of apartments have sold with eligible purchasers benefitting from the McGowan Government's stamp duty relief measures announced in October 2019
Premier Mark McGowan and Planning Minister Rita Saffioti joined representatives from Blackburne Property Group today to break ground and start construction on the new job-creating and transformational ONE Subiaco project.
To be built on the site of the old Pavilion Markets the project will comprise of a vibrant ground floor open to the community and with 245 residences including a mix of apartments and penthouses built above it.
The project supports the McGowan Government's efforts to revitalise Subiaco and complements the State's Subi East development which will become a new gateway to the Perth CBD - a vibrant place to live, with great access to public transport, public open space and public education at the nearby Bob Hawke College.
Construction of ONE Subiaco will be undertaken by Multiplex and will create and support 1,650 jobs and a pipeline of work with hundreds of direct and indirect jobs once the project is built.
With 80 per cent of apartments sold, the project highlights the success of the McGowan Government's 75 per cent rebate on stamp duty (capped at $50,000) announced last year, to help support the construction and property sector.
Now with construction underway, remaining eligible apartment buyers can still access the 75 per cent off-the-plan transfer duty rebate, capped at $25,000.
The McGowan Government has recently passed historic planning reforms aimed at cutting red tape and encouraging job-creating projects to create a pipeline of work and boost the local economy.
Comments attributed to Premier Mark McGowan:
"This is a transformational project that will deliver short term and long term benefits across the community.
"This major development is going to have a positive impact on Subiaco and the surrounding community for decades to come.
"I'm pleased to join WA-owned business, Blackburne, and I congratulate them on their efforts in developing a project that is truly in a class of its own and has a great offering that will support the local economy, tourism and bring life back to a historic Perth inner-city suburb.
"A major part of our recovery plan relates to property, planning and construction. It's an important sector to WA that can create and support a pipeline of employment through the pandemic.
"It's projects like ONE Subiaco that will deliver a boost in activity and support WA jobs.
"Stamp duty relief was one of our targeted measures designed to drive investment in our local construction industry, and was universally welcomed across the sector.
"We've worked hard to stimulate the housing and property sector and these initiatives have positive flow on effects into construction, trades and local retail."
Comments attributed to Planning Minister Rita Saffioti:
"We're keen to support job-creating major infrastructure projects that will help the economy out of COVID-19.
"ONE Subiaco is an example of a project we seek to encourage and support - it will create a vibrant ground space for the community with alfresco dining and meeting areas while also incorporating apartments into the levels above.
"We are working to revitalise the Subiaco precinct with our plan for Subi East now out for public consultation.
"Subi East is one of the most significant urban infill redevelopments ever undertaken in WA and the project will continue to build on our vision for this inner-City suburb.
"It will create a new gateway to the Perth CBD, building stronger links between West Leederville, Subiaco and West Perth - contributing to Perth's continuing development as one of the world's most liveable cities and creating thousands of local jobs in the process."
Premier's office - 6552 5000
Planning Minister's office - 6552 5500