Australia's first revolving heritage fund announced in WA

A new state government initiative, and an Australian-first, will see a Heritage Revolving Fund rejuvenate heritage properties that are currently “languishing”.

The $4 million fund will reactivate disused buildings, including the 1850s Fremantle Warders’ Cottages, which have been given priority status as the first to receive funding. When the Fremantle Prison was closed in 1991, these properties were used by the Department of Housing for public housing tenancies. In 2011, they were deemed unsuitable for tenants.

The properties, on Henderson Street, cover 3,544 square metres of ground, and consist of three sets of terrace housing.

Heritage Minister Albert Jacob said that this first major project would receive $2 million of the fund.

“The row of 18 cottages is a priority because it presents a unique challenge to conserve, modernise and return them to active use in central Fremantle,” he said.

Proceeds from the sale or lease of reactivated properties are then fuelled into future projects.

The state government currently owns a third of the properties listed on the State Heritage Register.

To be allocated in the 2014/2015 state budget, the funds will be provided over two years under the program and used in consultation with the State Heritage Office, Premier Colin Barnett explained in a pre-budget announcement.

Barnett noted that this is based on a model widely practised overseas, and that it would be a first in the country.

“The fund will allow disused state and local government-owned heritage properties to be prepared for sale or lease in a way that optimises the heritage, financial and community benefits,” he said. Fremantle CBD is said to have one of the most important concentrations of heritage of properties in Western Australia.