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One of the last opportunities to buy an older apartment building on the South Perth waterfront has hit the market with expectations of selling for about $25 million.
The property is owned by a Chinese private business family and is located on the South Perth Esplanade. It covers an area of 1,730 square meters and is currently a three-storey, six-unit apartment building. It is about 60 years old and faces the Swan River with a street frontage of 28 meters.
The land area is 1730 square meters and is planned for the development of five-storey residential buildings.
Knight Frank agent Jonathan Wong said the property’s prime riverfront location made it suitable for high-end residential development.
The waterfront property is expected to sell for about $25 million.Credit: Knight Frank
“We have had strong interest so far from the current listing from a number of buyers looking to secure a prime piece of land on the banks of Perth’s Swan River,” he said.
“The site is particularly suitable for high-end residential development, located in an affluent city-fringe suburb surrounded by luxury apartments.
“It also offers stunning views across the Swan River towards Perth’s city centre, as well as
“King’s Park.”
Real estate agent Cory Dell’Olio said the property offered buyers an opportunity to take advantage of value and rental growth as the residential market was strong and demand for more housing was strong.
“Perth has been the strongest market in Australia over the past year.
The value grows,” he said.
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