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.