EG submits a landmark proposal for a mixed-use development that combines Build to Rent and build-to-sell homes, three community spaces, and four commercial tenancies into a vertical neighbourhood at 40 Frame Court in Leederville, WA.
The plans comprise a five-storey podium, 16-storey tower, and 25-storey tower totalling 279 homes on the doorstep of transport links in the Leederville town centre. The 40 Frame Court project will reimagine the site that is located approximately two kilometres from the Perth central business district and is currently occupied by a low format office building.
“This development is about more than renewal for Leederville; it’s about investing in the neighbourhood. EG doesn’t cut and run – we like to curate places that put people first. It’s our hope that 40 Frame Court will be a place where locals are proud to live, visit or even own a home. For this reason, the plans have been carefully designed to include a range of homes – everything from co-living to Build to Rent studios to four-bedroom family apartments.”
Grant Flannigan, Development Director, EG
Amenities at the scheme will include a rooftop pool, BBQ area, open landscaped areas, a gym, private dining room, residents lounge, children’s play area, media room and communal vegetable garden.
Designed by local Perth-based architect Cameron Chisholm Nichol, the final development application has been iterated over years of collaboration with the City of Vincent and local community group, Leederville Connect. A series of workshops have informed the inclusion of an art gallery, open co-working space, and community multi-purpose centre that will operate in partnership with wellbeing-focused, not-for-profit Little BIG Foundation.
“EG’s willingness to seek local input and consider feedback and ideas with Leederville Connect should be an example to other developers with an interest in making Leederville – or any precinct – a great place to be. We hope our ongoing discussions will result in much needed places for our diverse and creative community to grow.”
Anna Kelderman, Chair, Leederville
The 40 Frame Court Development application will be on public exhibit with the City of Vincent until 6 September 2022. The apartment and commercial spaces are expected to come onto the market in 2023.
40 Frame Court was purchased by EG in late 2019 for $12.5m. EG’s most recent residential development, Flour Mill of Summer Hill, is a community in Sydney’s inner west that was delivered for the Fund’s predecessor under the same strategy.
The Flour Mill of Summer Hill incorporates the adaptive re-use of its industrial heritage to feature 360 homes and host the Flour Mill Markets. The recent launch of the Little BIG House community space at the Flour Mill has acted as a pilot for the Leederville plans.
Founded in 2000, EG has $5.1bn under management on behalf of super funds and private wealth clients and aims to generate returns with lasting social impact. With $3.9bn in the development pipeline and 16.7% per annum in realised IRR for institutional funds, EG intends to find a better path to better returns.
