Own a Property across Westfield Carousel – Largest Shopping Centre in Perth, Western Australia

Is there a correlation between property asset value and surrounding amenities?

To answer this question, we will go back to fundamentals when evaluating property value by using a simple valuation method such as comparison approach. Once the asset value is determined, we can add premium factors such as near to train station or near to amenities such as medical centres, cafes, restaurants or shopping centre to the base value to increase the overall property asset value. 

Hence, in my personal opinion, there is a correlation of determining property value in having this fixed asset located in an area surrounded with premium factors. 

I have done the following summary of a case study for your judgement call. 

Point 1 

According to The City of Canning website (https://www.canning.wa.gov.au/ccc), the local government has committed a 10 year, $76m City Centre Regeneration Program that is expected to deliver 10,000 new homes for 25,000 new residents, resulting in economic benefits of up to $2.2 billion in gross value. Thus, creating a vibrant City Centre – they say Perth Southern CBD. Go to their website and you would able to see their activity centre plan, milestones that they have achieved and the projects that are currently undergoing. 

Point 2 

Westfield Carousel – Perth’s largest shopping centre. 

It caters to nearly one third of the city’s diverse population with the Total Trade Area population exceeding 645,000. The centre also benefits from close proximity to two of Perth’s major university campuses, Curtin University’s Bentley Campus and the South Street Campus of Murdoch University. 

A $350 million redevelopment, completed in 2018, delivered a new David Jones department store as well as 70 new specialty stores, including 20 restaurants and 50 fashion retailers. Westfield Carousel now comprises 350 retailers across fashion, food, lifestyle, dining and entertainment. 

Point 3 

Elements at Carousel (freehold apartments), developed by Jean Yip Group is located right within the City Canning Centre, across Westfield Carousel. 10 storey development with a total of 114 apartment units are now selling at a price point that is lower than the comparable apartments in the same area. In addition, some of the units are been approved for Airbnb hosting. All the units come with balcony, storage space and car bay. 

Implication 

Buy low, sell high with high potential rentability is the game plan. If the location is no good, who do you think which parties would suffer? I would say Westfield Carousel and property developer, would you agree? 

Apply Now 

ü  Leverage the price point (i.e. lower than the comparable apartments in Cannington) that Elements at Carousel (freehold apartments) offers today to you as a first mover. 

ü  Leverage bank’s money (in which Singapore bank agreed for financing this subject property) to assist you in the purchase. 

ü  Leverage on what the local government (i.e. City of Canning) has endorsed and committed a 10 year, $76m City Centre Regeneration Program of creating this vibrant City Centre – Perth Southern CBD in preserving your asset value. 

Let’s meet up and discuss how this investing a freehold apartment unit can preserve your real estate wealth portfolio today. 

Call Simon at 8100 3386 now.    

Ready, Get Set, Go Investment in Perth CBD, Western Australia

I trust you have noticed an advertisement published by Reapfield about marketing NV Apartments located within the Perth CBD area on 26 and 27 Sep’20 + 3 and 4 Oct’20. 

If you have not gotten a chance to come over to our first and second invitation, I would like to invite you again for this exciting investment opportunity. 

I have done an executive summary of investing this newly completed freehold apartment in Perth CBD location for your consideration. 

Point 1 – Be Part of the Perth CBD Growth Phrase 

A new billion-dollar partnership between the City of Perth, Commonwealth Government and State Government has been finalised, unlocking numerous economic benefits and opportunities for the Perth CBD.  

The $1.5 billion City Deal will re-energise Perth, bringing government and private investment into the CBD, creating almost 10,000 jobs and encouraging more people back into the city.  

You can go to my blog article ‘Transformative City deal to create 10,000 jobs and re-energise Perth CBD’ for more details about this growth phase. 

Under this plan more than 25,000 students and staff will be brought into the city and the construction of the campuses will bring over $1 billion of investment to Perth’s CBD. It is estimated this will create more than 4,100 construction jobs and nearly 1000 ongoing direct jobs.

Prime Minister Scott Morrison said Perth would benefit for generations to come from the game-changing investment in education, culture, jobs and lifestyle. 

Point 2 – Vacancy Rate Has Dropped 

It is always a good news for real estate investors when they heard vacancy rate has dropped. 

From my blog article ‘Case Study of Vacancy Rate in Perth Rental Market’ which I published on 29 Sep’20, vacancy rate has dropped from 1.6% in Aug’20 to 1.3% in Sep’20. What does it mean? It means that fewer and fewer properties would be left empty. To quote Martin Berry (owner of The Professionals in Rockingham) from the August article, she said that she had not seen anything like the current market in her 16 years in the industry. Her company had 720 properties on their books – two are vacant.  

Interestingly, from the 2 articles, it brought up this particular residential property called NV Apartments located at Perth CBD as a case study. In the August article, there was such a high demand of NV apartments that there was a tenant waiting list, whereas in the September article, an inspection held for 2 apartments has attracted 35 people as shown in the picture on the article. 

Clearly, the rental market has tightened. If you have a property that is ready now for leasing, you bet there would be tenants knocking at your door.     

Point 3 – Ready, Get Set, Go 

Ready - NV Apartments (freehold) at 380 Murray Street are newly completed in year 2020. As investors, you do not need to wait 3 years for construction to be completed. You literally can touch and feel your physical property asset now. As a result, your risk or worry about “abandon project” is eliminated. 

Get Set - We have assembled a local property management team based in Perth to manage your NV Apartment. The team has already gotten a waiting list of potential tenants asking for this apartment leasing. Once you have purchased and settle the payment of your chosen unit, the property management company would be ready to put the tenant for rental. 

Go - Select the unit now within your investment budget. Let us, your local team in Singapore to work together with you to start your investment journey in this Australian real estate market. 

Let’s meet up and discuss how this investing a newly completed freehold apartment unit in Perth CBD can preserve your real estate wealth portfolio today. 

Call Simon at 8100 3386 now.