OWNER-OCCUPIERS and investors are showing keen interest in The Village Northbridge precinct.
Selling agent James Limnios, of the Limnios Property Group, said there was great interest in the mixed use and residential lots and that each release of land in the precinct had been sold out.
Mr Limnios said property buyers had recognised that Northbridge had not yet experienced the price surge undergone by other redeveloped areas, such as Subiaco and East Perth.
“People are recognising that they are getting the same product, but for less,” he said.
Mr Limnios said there was a good mix of investors and owner-occupiers buying up in the area, wanting to build their business or homes close to the city.
In the New Year the East Perth Redevelopment Authority is expected to release a number of development sites in the precinct.
Mr Limnios said there was a number of high-profile property developers in the wings eyeing off the sites.
EPRA is releasing three properties in the area’s Talbot Hobbs Heritage Precinct, which will be auctioned on December 18 2003.
The properties are zoned mixed use and comprise 299 Newcastle Street (left, above), 295 Newcastle Street (left, below) and 305 Newcastle Street.
EPRA chief executive Tony Morgan said the authority was committed to conserving the unique history of the precinct and that, once restored, these properties would be an excellent example of how the area’s past and future could co-exist.
The auction will be held at 305 Newcastle Street Northbridge with each property being offered for sale as a separate lot.
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