Set in the prestigious riverside suburb of South Perth in Western Australia and commanding spectacular city and river views, Aurelia is the latest upmarket apartment complex to be launched by respected apartment developer Finbar.
The 116 apartments and two penthouses will be released for sale on Saturday, 7 March 2015, offering astute purchasers the chance to secure not only some of the best views in Perth, but also a sought-after address on the banks of the stunning Swan River. Knight Frank Malaysia will be holding an exclusive launch event at JW Marriott, Kuala Lumpur during the weekend of 7 & 8 March. Designed to appeal to distinguished buyers who appreciate the finer things in life, the 21-storey Aurelia complex will feature a high-end specification and a host of hotel-inspired amenities, including a gymnasium, a sauna, and an infinity-edge swimming pool adjoining a large pool deck and a cabana with an outdoor kitchen.
According to Neil Kay, Senior Director of Residential at Knight Frank Australia (WA), Aurelia represents smart and sophisticated living, in a highly desirable suburb that not only enjoys the best views of the city, but also has a bustling urban mix of cafes, restaurants, bars and boutiques. “From South Perth, it’s only a short ferry ride to the Perth CBD and Elizabeth Quay, a precinct being transformed to integrate the city’s riverfront into a vibrant destination for locals and visitors.” Mr Kay said.
“South Perth is also close to some of Western Australia’s finest universities and education facilities. And despite being close to the congestion that comes with a global city, South Perth enjoys a clean, fresh atmosphere of riverside living. It has long been regarded as one of Perth’s most prestigious suburbs and it’s easy to see why.”
Set against a backdrop of significant investment in local infrastructure by the Western Australian Government, a weaker Australian dollar and historically low interest rates, the Aurelia project offers a good opportunity to buy into an exclusive pocket of this prestigious market.
Michelle Ciesielski, Associate Director at Knight Frank Residential Research, said the South Perth market had witnessed average annual capital growth of 4.1 per cent over the past three years. “For investors, over the same time, gross rental yields averaged 4.84 per cent, up from the 4.24 per cent averaged over the previous three-year period.” Ms Ciesielski said.
Apartments make up approximately 45 per cent of the total dwelling mix in the South Perth local government area, with most of these in well-established medium-density complexes.With a growing population, Perth reflects the emerging global trend towards inner-city apartment living as people aspire to live close to employment, entertainment and education facilities. “As this trajectory continues upwards for first-time buyers, young professionals and downsizing empty-nesters, the number of new apartment complexes with in-house amenity is required to grow considerably over the coming decade.” Ms Ciesielski said.
Annual population growth for Greater Perth over the next 10 years is projected to reach 3.6 per cent, with most of this likely to occur in the inner-city ring, which includes South Perth. The Australian Bureau of Statistics reports that in the 10 years to 2013, the South Perth local government area population grew an average of 1.8 per cent, with population growth of 2.7 per cent estimated in the last year alone. South Perth is primed and ready for the next phase of its development.
A recent rezoning decision by the City of South Perth, for example, responds to demand for apartments by facilitating the first high-rise developments in the area for 35 years. We expect sales at Aurelia to be brisk, given the pent-up demand and the fact there’s been historically strong demand for apartments that are close to Mends Street, and offer river and city views. “New developments will bring even more street-front cafes, even better shopping and further improved facilities in general.” Due for completion in early 2017, Aurelia will be built at 96 Mill Point Road, South Perth, just a short stroll from the popular Mends Street jetty and café strip
Residents of Aurelia will be able to hop on a ferry to Elizabeth Quay, taking them within easy reach of all the city attractions, including Perth Arena, the Crown Casino complex and the new Perth Stadium, offering a truly unique location and enviable amenities, South Perth has become our premier inner-city apartment destination.” Ms Ciesielski said.
Herbert Leong, Associate Director, Knight Frank Malaysia comments “ South Perth offers all the investment characteristics we look for when advising our clients on overseas property investment. By teaming up with Finbar, we know their enviable track record combined with our professional advice will appeal to a wide range of Malaysian investors and we’re looking forward to the exclusive launch in KL.”
The launch will take place in JW Marrriot on the 7th and 8th of March from 11am to 7pm.