The subject property is located at 5 Macrae Road, Applecross, Western Australia. This location is an affluent riverside suburb of Perth bound by the Canning Highway and Swan River. It is anticipated the development scheme can deliver 5 townhouses. This will be a mix of 3-bedroom x 2 bathrooms and 4-bedroom x 3 bathrooms.
PLANNING
Detail design documentation is being progressed, due to be completed by May 2022. The building permit is to be issued in June 2022.
CONSTRUCTION
Construction is yet to commence.
MARKETING & SALES
The strategy is to have a premium product offering high revenue rates and lower yield compared to larger apartment projects within the area. There is sufficient sales evidence to suggest the adopted revenues will be within valuation assessed values.
A creative agency is to be engaged early, this is to accelerate areas where the team can in the project. The project identity and brand to be created, with floor plans, etc to be completed upon DA being approved.
