Ex theological college sold for apartments
West Leederville is set for a twin tower project with a total 240 apartments following a permit-ready site sale to Finbar.
The local developer and investor is paying $15.7 million ex-GST for 236 Railway Parade – a c1957 ex-theological college on 4997 square metres.
The block sits within an urban renewal precinct, Rosslyn Quarter, defined in the West Leederville Precinct Structure Plan, in its final stages of being adopted by the Western Australian Planning Commission.
“Finbar will commence its design work immediately to ensure the proposed development achieves [its] feasibility benchmarks,” chief executive officer, Ronald Chan, said.
Busy start to FY26 for Finbar
The West Leederville parcel is about 400 meters from another Finbar project, Motive Apartments, completed in 2017.
It also neighbours the Coles-anchored West Leederville Shopping Centre, in a commercial hub also with bars, cafes and restaurants.
Sterling Property’s Brian Neo was the agent.
Settlement is scheduled this financial year.
The address is three kilometres north west of Perth’s CBD.
Also this week we reported Finbar bought out its JV partner for a Palmyra apartment site.
It sold a Rivervale site too, to a community housing provider.
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