The historic Doyle Court building in Subiaco and the Mosman Park shopping centre, which are owned by the same overseas investors, are set for redevelopment.
The two properties are owned by overseas investors through local company EastRiver Pty Ltd.
The $5 million Doyle Court redevelopment has been approved by the Metro West Joint Development Assessment Panel, with the existing building on Rokeby Road to be conserved and a three-storey commercial development to be built behind it.
The new office building will be accessed from Bagot Road and includes a 19 bay double-stacked car park on the ground level.
The development has been designed by McDonald Jones Architects.
Doyle Court, which is included on the City of Subiaco's heritage list but not in the Heritage Council of WA's register of heritage places, was built by the first mayor of Subiaco, Henry Doyle, in the late 19th century.
Secretary and power of attorney for EastRiver's overseas owners, Terry Posma, said the current bank and retail shops on the ground level of Doyle Court would remain and the renovated Doyle Court building and new extension would be leased as office space.
The proposed development encompasses 2,200 square meters, of which 1,585sqm is new commercial office space.
EastRiver is in talks with a prospective builder and has estimated the project will be constructed in 18 months.
Mr Posma said the owners of Doyle Court and the Mosman Park shopping centre had been in possession of both properties for more than 20 years and were now looking to redevelop them at the same time.
"The buildings were due a whole lot of work and it was felt that we may as well do the whole lot in one go," Mr Posma said.
EastRiver recently submitted its development application to the Town of Mosman Park to carry out a $3 million-$4 million redevelopment of its Mosman Park shopping centre.
Mr Posma said the intention was to refurbish and expand the shopping centre, as well as add some office space to the retail centre.
Hames Sharley is the architect for the shopping centre redevelopment.