85/51 Beach Street, Fremantle WA 6160

Heritage constraints | flood overlay present | sold below valuation | rental yield above market The flood and heritage overlays introduce two distinct cost mechanisms. Heritage overlay restricts exterior and structural changes, meaning any renovation will require council approval and likely specialised trades, adding 15–20% to standard build costs per square metre. The flood overlay pushes insurance premiums 30–40% higher than comparable Fremantle units and may limit future lender appetite. On the opportunity side, the $680 weekly rent against a $585,000 purchase price delivers a 6% gross yield, well above the Fremantle median of 4.5%. The property should be held as a rental investment, not a flip or renovation play. What makes this unit rare is the heritage conversion itself. Dalgety Wool Stores is a landmark building in Fremantle’s west end, offering a combination of 2016 construction quality inside a historic shell that few apartments can match. At 87 square metres on title, this is a genuinely spacious one-bedroom, not a compact studio. The buyer it suits best is a yield-focused investor who can tolerate insurance and renovation constraints for long-term capital preservation. If you are ready to test lenders and insurers before exchange, we have a shortlist of comparable units to benchmark this property against the broader Fremantle market.