Historic heritage Freemantle home on the market
A landmark Trades Hall reborn as a grand private residence, 6 Collie St blends century-old heritage with bold contemporary luxury in the heart of the West End.
2 min
The numbers 8 8 8 gracing the facade at Fremantle’s former Trades Hall aren’t a mark of the historic building’s address, or even the year of construction.
The digits are a nod to the labour movement’s motto of eight hours work, eight hours rest and eight hours leisure. It’s a symbolic welcome to a heritage home with a big story to tell and plenty of space to work, rest and play.
Few residences capture the spirit of a city quite like 6 Collie St, in Fremantle’s vibrant West End. Since its foundation stone was laid in 1901 by Western Australia’s first Premier, Sir John Forrest, the period property has lived several colourful lives.
Originally the headquarters of the trades and labour movement, the 701 sq m site was sold for $21,000 in 1968, when it became a popular music hall. By the early 1980s, it had been turned into a landmark restaurant known as Zorba the Buddha, operated by the Rajneeshee – aka the controversial Orange People.
Then the block became Club Le Maschere, a high-society Italian restaurant and bar, made famous after the America’s Cup win, when, in December 1986, it even earned a glowing review in the LA Times. Later, the two-storey building served as a convention centre until it was transformed into one of Fremantle’s most iconic private residences in 2009.
The Collie St home last sold in 2022 for $5.5 million, but is now seeking new custodians. Michael Harries and Kat Goddard of Ray White Dethridge Groves have listed it via an expressions of interest campaign, expecting in the “high $7 millions”.
Beyond the marble-floored portico, arched niches still display the workers’ organisations that once filled the hallowed halls. The remainder of the home, however, has been transported into the 21st Century through a sophisticated interior makeover.
At ground level, there is a ballroom-sized multipurpose workspace framed by tall curved windows, intricate pressed tin ceilings, stately bookcases salvaged from the old Battye Library, a kitchenette, and a bathroom. The vast space flows out to a private courtyard with sheltered seating and a sculptural pond.
Across the hallway, the main bedroom features a fireplace and a palatial ensuite with a freestanding tub. The same floor also houses two more bedrooms, a media room, and a laundry room.
Upstairs, via a meticulously restored sweeping jarrah staircase, the primary living level is a grand open-plan lounge and dining zone with cathedral-style ceilings. The contemporary commercial-grade kitchen features a large butler’s pantry and two work islands.
Additionally, there is another bedroom with an ensuite, an internal deck with a plunge pool overlooking Esplanade Park, plus three Juliet balconies.
In total, there are four bedrooms, with the possibility of a fifth, artwork lighting systems, CCTV security and alarm, climate control, electronic blinds, and off-street parking for three cars.
Sitting across the road from the Esplanade Hotel, this rare residence is also within walking distance of Bathers Beach, museums, galleries and sought-after restaurants.
The unique heritage home at 6 Collie St, Freemantle is for sale via an expressions of interest campaign with Harries and Kat Goddard of Ray White Dethridge Groves.
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As Australia accelerates apartment construction, investors face a critical decision between high-rise living and land-backed homes.
3 min
Australia’s housing shortage has long positioned real estate as a cornerstone of wealth creation. But as governments push to deliver 1.2 million new homes, many of them high-rise apartments, investors are increasingly weighing whether vertical living offers the same long-term returns as traditional houses.
While apartments offer lower entry prices and strong rental demand in key locations, critics warn that strata costs, oversupply and lack of land ownership can undermine long-term capital growth.
LOCATION AND LIFESTYLE DRIVE DEMAND
Company RE chief executive Marcus Buskey says thoughtfully designed high-rise developments in lifestyle precincts can deliver strong returns, particularly in premium coastal markets.
Demand remains robust across the Gold Coast and inner-city Brisbane, driven by downsizers, professionals and interstate buyers seeking convenience and lifestyle.
“Apartments in premium Gold Coast areas like Mermaid Beach, Broadbeach and Burleigh Heads have consistently demonstrated capital growth, driven by limited availability, desirability of location and ongoing demand from lifestyle-focused buyers,” Buskey says.
He adds that quality, exclusivity, views and proximity to amenities remain critical factors influencing performance.
MELBOURNE MARKET SHOWS MIXED SIGNALS
Melbourne project marketing specialist Jon Ellis, founder of The Move, says apartments continue to dominate transactions, accounting for 360 of his last 400 sales.
However, he warns not all developments perform equally.
“Some lower-grade apartments in Melbourne may never go back up to the sales price they were achieving a few years ago,” Ellis says.
He notes that construction costs have risen sharply, making it harder to deliver strong investment yields. Yet demand remains strong for well-executed developments.
“Investors purchasing an apartment for $600,000 need to get about $600 a week in rent. If you can get that right and prove it, demand for apartments certainly outstrips residential houses.”
THE LAND FACTOR REMAINS CRITICAL
Like all investment opportunities, others favour a freestanding home over a high-rise apartment.
“In my opinion, the only people who make money from high-rise apartments are the developers who build and sell them,” buyers’ agent Gianni Musumeci says.
For this reason, the Sydneysider steers investors away from high-rise apartments. “While they may appear to be an appealing investment on the surface with attractive guarantees, modern designs and convenient locations at somewhat lower entry points, high-rise apartments are, in my view, rarely a good investment,” Musumeci, of Leverage Property Advisers, says.
“This is especially the case when compared to standard residential homes in suburban markets, primarily due to the overwhelmingly high supply of apartments, the high level of cash flow expenses, the number of defects commonly found in high-rise buildings and the cost to remediate them, as well as the lack of land ownership, which is the primary driver of capital growth.”
“Economics 101 tells us that capital growth is achieved when diminishing supply meets increasing demand. The issue with high-rise apartments is that they’re typically built in areas with overwhelming supply, and often, that supply exceeds demand,” he says.
“These developments are usually located around major transport hubs, and as a result, if you’re looking to buy in one of these areas, you’re competing with dozens or even hundreds of similar listings.”
“Apartments are far easier to mass produce because the only restriction is how high you can build. You can’t expect strong growth in a market that’s saturated. In contrast, standalone residential homes are limited by land availability,” Musumeci says.
WEALTH CREATOR FAVOURS FREEHOLD PROPERTY
Entrepreneur and investor Scott O’Neill, who has amassed a combined net worth of $153 million with his wife Mina, says his personal experience has reinforced the benefits of freehold ownership.
He owned a high-rise apartment early in his investing journey but sold it after two years.
“The yields can vary significantly, ranging from four to seven per cent, but that’s before accounting for sinking funds and strata fees. Your net returns often drop to between one and two per cent,” O’Neill says.
He says oversupply and rising strata costs can further weaken performance.
“Most long-term property owners end up selling high-rise apartments in favour of freehold properties.”
INVESTMENT DECISION DEPENDS ON STRATEGY
Despite the risks, apartments can still deliver strong results when chosen carefully.
Experts agree that location, developer quality, supply levels and long-term demand are critical factors.
While houses continue to offer superior land value and long-term growth potential, apartments can provide attractive yields and accessibility for investors seeking exposure to high-demand urban markets.
Ultimately, the right investment depends on an investor’s strategy, time horizon and appetite for risk.
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