Westbridge Subiaco Fund

A rare investment opportunity in one of Perth’s most vibrant locations

Target 20% IRR per annum*

(Internal Rate of Return)
The Subiaco Fund gives wholesale investors the opportunity to invest in an exciting mixed-used development in the heart of Subiaco, just 4km from Perth’s CBD.
Situated next to the iconic Regal Theatre, the development is targeting 71 apartments over eight storeys with five ground floor commercial tenancies.
The project presents a unique opportunity to capture the revitalisation of a prime, inner-city suburb in high demand.
With development plans already progressing through initial stages, the Fund seeks to capitalise on the favourable outlook for Perth’s apartment market, with low supply and robust buyer demand expected to drive growth in apartment prices.

High-demand, established suburb

Located just 4km from Perth’s CBD, the suburb of Subiaco has experienced a resurgence in recent years with projects such as ONE Subiaco and the renovation of the heritage-listed Subiaco Hotel breathing new life into the suburb.

These revitalisation efforts are a key driver behind the selection of this site for development by Westbridge, with the suburb’s vibrant culture, proximity to employment, unparalleled amenity and excellent public transport making it a sought-after destination for apartment living.

Location highlights:

  • Subiaco Train Station (200m)
  • Subiaco Square Shopping Centre
  • Bob Hawke Secondary School, Subiaco Primary School & Perth Modern College
  • Perth CBD (4km)
  • University of Western Australia
  • St John of God Hospital, King Edward Memorial Hospital & QEII Medical Centre
  • Subiaco Hotel
  • Lords Recreation Centre
  • Kings Park, Lake Monger & Subiaco Commons Parkland

    Prime site, iconic location

    • The unique 1,827sqm site is situated next to the heritage-listed Regal Theatre in the heart of Subiaco.
    • Transactions of this kind are extremely rare, with the site having been held by its previous owners for 27+ years.
    • The proposed mixed-use development will comprise 71 apartments and five ground floor commercial tenancies designed in conjunction with Perth-based architects, Space Collective.
    • The development will include a mixture of 1×1, 2×2 and 3×2 apartments to appeal to the young professional and downsizer markets, with the upper levels boasting stunning city views.
    • Demand for the commercial tenancies is expected to be strong given the revival of Subiaco and the site’s town centre location.
    • The development application has already progressed through initial phases, with support for approval indicated from the City of Subiaco and Design Review Panel.
    • Formal lodgement of the development application is targeted prior to the issue of the IM, with Development Approval targeted before settlement to reduce project timeframes.
    • Discussions are well progressed for the Regal Theatre to acquire part of the retail tenancies.

    484 Hay Street, Subiaco

    Located just off the Town Centre of Subiaco at the intersections of Hay St and Rokeby Road, 484 Hay Street sits at the heart of activity and amenity.

    Perth’s strong market outlook

    • Perth’s property market is currently experiencing an upswing, driven by the combination of low stock and strong buyer demand.
    • Recent escalation in construction costs has hindered apartment commencements, further constraining available supply and intensifying competition among buyers.
    • Independent data and our engagement with key builder partners on the project suggest that construction cost growth is beginning to level off.
    • The combination of these factors is creating a strong outlook for the apartment market, with apartment sales prices expected to continue rising over the next 12-24 months.

    Indicative Fund Timeline

    Subject to final IM

    This raising will be formed of two tranches, with tranche 1 taking place in early 2024 and tranche 2 launching as we progress towards construction. Investors in tranche 1 will purchase units at $0.80 and will receive priority access to invest in tranche 2. Units issued in tranche 2 are targeted to issue at $1.00.

    Site and surrounds

    *Target returns are not promised nor guaranteed and are based upon a number of assumptions. Their achievement is subject to risks. The target return range is a target only, not a forecast and it might not be achieved. Please refer to the IM for more information, noting the section on financial information and risks before deciding whether or not to invest. Units in this Fund are issued by Westbridge Funds Pty Ltd ABN 33 652 852 214 AFS License number 533936 as Trustee of the Subiaco Fund. Momentum Wealth Projects Pty Ltd (ABN 29 090 792 439) t/a Westbridge Urban is the investment manager of the Fund (Manager). You can obtain a copy of the IM and application form by calling 08 9321 5566, emailing info@westbridgefunds.com.au or visiting www.westbridgefunds.com.au. ^Open to wholesale investors only.

    Equity Raise: Circa $7million | Minimum Investment: $100,000 | Eligibility: Wholesale Investors

    Register interest in the Subiaco Fund

    Complete the form below to register your interest and request a copy of the IM for this Fund:

      By returning this EOI form to Westbridge Funds Management, you will receive a copy of the Information Memorandum (IM). A completed EOI form is neither binding on you to subscribe for units, nor does it guarantee a full allocation of units pursuant to the issue of the IM. An allocation of units is subject to completion and receipt of an Application Form as contained in the IM with units principally allocated in the order that each Application is received. The Issuer will allot the units subject to availability following closure of the Offer and subsequent scaling (if any).
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