Enjoy the investment advantages of a rejuvenating inner city neighbourhood
Whilst most people living within Oracle apartments are owner-occupiers, this premium development also presents an outstanding investment opportunity. The central city location, in an area experiencing a new wave of revitalisation, has the potential for very strong capital growth. Additionally, being located adjacent to the employment hub of the CBD, vocational educational facilities and a major tourism precinct will create the environment for high rental demand. Price increases in property have historically come when there is a unique product with high demand in an outstanding location.
The rebirth of the city
Perth is experiencing an unprecedented level of new development that is set to transform the CBD into a truly desirable location in which to live and work.
Significant government investment in transformational projects is delivering high-quality infrastructure and facilities that are revitalising inner city living and unlocking the underlying potential of the area. This, in turn, is attracting a flurry of private investment that is capitalising on the associated increase in new residents and visitors to the area.
Key projects leading the city’s rejuvenation include:
Perth City Link
One of the city’s most exciting and important redevelopments, and attracting an estimated $5.3 billion of private and public investment, this project will reconnect the CBD with Northbridge for the first time in more than 100 years. The area, once an impenetrable barrier of bus and train connections, will become an exciting new destination with housing, shops, restaurants, hotels and office space that is set to accommodate some 13,500 workers. It will include Yagan Square, a major public event space containing fresh food markets, children’s play area, native gardens and more.
Established during the gold rush era, the buildings along William Street are now part of a state heritage precinct being transformed as part of the Metropolitan Redevelopment Authority’s $6m redevelopment. The area has become a hotbed for new tenants and traders seeking out innovative spaces for cutting-edge fashion, retail, creative industries and small bars. Significantly, the same team that is behind the hugely successful Little Creatures Brewery in Fremantle has commenced development on a boutique hotel looking to capitalise on the area becoming one of Perth’s leading accommodation, entertainment and nightlife strips.
Perth Cultural Centre
Located between the city centre and Northbridge, the Cultural Centre enjoys a vibrant mix of arts, music, food, entertainment and festivals. The state government has recently invested more than $35m to revitalise the area, benefiting visitors who come to attend some of WA’s major cultural and educational institutions. These include the Art Gallery of Western Australia, Western Australian Museum, State Theatre Centre and Perth Institute of Contemporary Arts, amongst others.
Proposed China Town Redevelopment
Northbridge has enjoyed a long association with the Chinese community creating a hub for some of the best Asian dining and cultural experiences the city has to offer. The energy and vitality of the China Town district is soon to be renewed as part of the Perth City Link project. The extension of King and Queen Street from the CBD into the area will bring in thousands of new visitors seeking out the food, culture and atmosphere. A $2m investment will also see new entry statements, laneways, landscaping, lighting and contemporary Chinese art and wall murals created.
At the centre of it all
The Oracle location enjoys incredible connection to key inner city areas and infrastructure:
> 1000m to the Perth CBD
> 400m to the centre of Northbridge
> 400m to Perth Train Station
> 300m to McIver Train Station
> 400m to Wellington Street Bus Station
> 150m to the Beaufort Street high frequency bus route
> 500m to the Perth Cultural Centre
> 750m to NIB Stadium
> 1300m to the Perth Arena
A growing state
Western Australia is the fastest growing state in Australia both in terms of GDP and population growth. The Australian Bureau of Statistics predicts that Perth’s population will significantly increase by 2020. Overlaid with this is the fact that Perth is undergoing a significant long-term shift in demand towards apartment style living.
Currently around 11% of Perth’s residents live in apartments whilst in Sydney and Melbourne the percentage is around 30%. As cities grow more and more, people trend towards apartment living. Perth is now a major international city and the time for significant demand for apartment living has come.
One advantage of buying off the plan is that you can secure your ideal property now and not need to settle for around 2 years. All that is required is a 10% deposit. The deposit will be held in a secure trust account until settlement. Your personal property consultant will always be on standby to help you with anything you need.
The team at Blackburne will always be there on standby to assist with any queries. If you wish to sell your home our experienced residential real-estate team can assist with that to ensure a smooth transition. If you’re an investor, Blackburne can also handle all property management for you. Our in-house Finance team can provide free advice on how to best structure your purchase to ensure you get the right outcome for you.