Demand for the nearly complete Armagh Residence has been extremely high – and it’s easy to see why.
In the heart of buzzing Victoria Park, this new development is under construction on the corner of Berwick and Armagh streets, a stone’s throw from the river, close to Crown and Curtin University, on transport routes that run north and south, and walking distance to the CBD.
Agent Kaylie Morphew says Armagh’s appeal is underpinned by the quality of the development.
“This is a complex which has been designed to be spacious and light, so each of the apartments benefits from that careful design approach,” she says.
“Each home has been finished to a high quality with stone benchtops, Hafale appliances, quality carpets and tiles.
“All this has been installed in a very neutral colour scheme so home owners or tenants can decorate to their heart’s content.”
There are just 23 apartments in the whole building – a size that increasingly appeals to buyers looking for a smaller, more boutique complex.
Kaylie says many investors or first time buyers would rather save the cost of running a pool or communal gym and take advantage of amenities in the local area.
“There are no common facilities at Armagh which keeps strata fees down,” Kaylie says.
“Coupled with a strong demand for rentals in Victoria Park, it makes it the perfect choice for both owner occupiers and investors.”
Rental yields in the past 12 months for two bedroom units in Vic Park are a solid 5.1 per cent, while the median value of units has risen 1.9 per cent in the past year, according to realestate.com.au
Kaylie says a furnished, one-bedroom, ground floor display apartment at Armagh is now ready to view.
“This is a great opportunity to see a finished apartment prior to completion of the building, so you really know what you are buying,” she says.
Just a select few apartments remain for sale with completion due in April 2016. You can secure an apartment with a $5000 deposit and also sign up subject to finance, which will appeal to first-time investors. One bedroom units start at $385,000; two-bedrooms from $475,000.