Perth's Old Treasury to become Aman Resort

Little-known Perth real estate investment company FJM Property is part of the consortium of three behind the $580 million redevelopment of Perth’s Old Treasury Buildings.

Premier Colin Barnett has agreed to a 99-year lease with the Mirvac/Cbus Property consortium, with the state paying a premium rent of $102 million over $25 years.

The Treasury buildings will be refurbished into an ultra-exclusive Aman Resort while a 35-level office tower will be developed at the centre of the site, which is part of the St George’s Terrace Cathedral Heritage Precinct. The development is expected to be completed in 2014.

“We are the equity investors behind the hotel, but the building will remain a state asset. To be converting something that was one of the most important state buildings in WA is very exciting both from the heritage perspective and that we are breathing life back into a building that has sat unloved for 15 years,” says FJM director Tim Mack.

While FJM may not be widely recognised, chief executive Adrian Fini brings much experience from his many years as executive director of development for Mirvac WA and then as a non-executive director until his resignation from the board last year.

Fini is involved in several smaller projects, including the addition of a hotel to Fremantle’s Little Creatures boutique brewery and restaurant in Fremantle, but the Treasury is the company’s highest-profile acquisition to date.

It has teamed up with uber-chic Hong Kong-based Aman Resorts to manage the site.

Singapore and Fremantle-based architect Kerry Hill, who has made his name by creating some of the world’s most beautiful resorts such as Amannusa in Bali and The Datai in Langkawki, will provide creative direction.

Already it has been decided that preservation is key. While keeping most of their unique shapes, two and three original offices will be joined together to create each of the 48 rooms that will range in size from 50 square metres to 150 square metres. The building will have all the trimmings expected of a six-star operation, including a private library for guests.

“It will have a very authentic and timeless style. Aman brings together indigenous culture, Asian simplicity and European comforts,” says Mack.