Mirvac Fini will release its second apartment building at the Peninsula, Burswood, to the market on September 10.
The developer expects the Axis complex to be completed in 30 months.
Axis will have 112 apartments over 18 levels, with six apartments per typical floor as well as a recreation deck that will include a pool and gym.
Upon its completion in a decade, the $700 million Peninsula development will be the largest master planned community in Western Australia, with 1,100 residences over 17 hectares.
The release of Axis follows from the success of the sell-out first apartment tower, Allegro, which sold $40 million worth (70 per cent) within three days.
Despite a downturn in the city apartment market in the eastern States, Mirvac Fini CEO Adrian Fini said the success of Allegro indicated the demand for quality housing close to the city in Perth remained strong.
To help off-the-plan sales, Mirvac Fini has created a replica of a standard two-bedroom apartment in its information and display centre, which showcases the fixtures and fittings, as well as one of the three available interior colour schemes.
A fourth-storey viewing tower has also been constructed so potential purchasers can contemplate the view across the Swan and CBD, while the preliminary work is done to begin construction on Allegro.
Bounded by the Burswood Park Golf Course, the Burswood Resort and the Swan River, the Peninsula’s seven apartment towers are designed to mimic the East Perth and CBD skyline.
Mirvac Fini sales and marketing director Peter Gianoli said the buildings of Perth needed to “respond to one another” and, rather than his company building something distinctly different, the skyline had been mirrored.
He said the Peninsula project had been the catalyst for Mirvac and Fini to join forces in early 2001.
“Both Mirvac and Fini pitched for the land when it became available, and Burswood suggested that the best outcome would be if we got together on the project, and Mirvac ended up buying Fini,” Mr Gianoli told WA Business News.
He said the first two towers would be sold off-plan.
“We are very confident in the luxury owner occupier market, which represents 70 per cent of our purchasers,” he said.
Axis will have two-, three-, and four-bedroom apartments as well as three penthouses.
Mirvac Fini has utilised its internal architectural and design team HPA to plan the community.
HPA practice director Chris Maher said the apartments catered for shared living or families and were divided by large open spaces.
“A melding of space from inside the apartments into the outdoor space is created using clean architectural lines and an emphasis on use of natural light and air flow,” he said.
Through an agreement with Burswood, Mirvac Fini has an option to purchase the Burswood Dome site should it be placed on the market in the future.