23/05/2016 - 05:10

Ready-made for downsizer market

23/05/2016 - 05:10

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Boutique developer Baltinas Made has responded to demand for larger apartments at its latest Mount Street development, giving buyers the opportunity to custom-build dwellings.

Ready-made for downsizer market
FLEXIBLE: Buyers are being encouraged to be creative with their demands for Baltinas Made’s Camilla Residences. Image: Baltinas Made

Boutique developer Baltinas Made has responded to demand for larger apartments at its latest Mount Street development, giving buyers the opportunity to custom-build dwellings.

Baltinas Made founder Barry Baltinas said he had decided to leave the floor plans of the $28 million Camilla Residences project open because many prospective purchasers had requested dwellings with larger living spaces or more bedrooms.

Mr Baltinas said the idea initially came about from a purchaser at his previous Mount Street development, Halo, who had bought two adjoining apartments and combined them to make one dwelling.

“That worked really well but in this case what we’ve found was the people that are approaching us have been basically asking for larger apartments,” Mr Baltinas told Business News.

“At the moment, I would say 50 per cent of our inquiry is looking at combining apartments.

“The buyers that are looking at Mount Street are generally wanting something bigger because they’re coming from a big house.

“They’re downsizers and they’re not going for smaller apartments, and at the same time they are probably used to a bit of privacy from having their own house.”

Mr Baltinas said the Camilla Residences was designed to mirror the family home experience, with options including having up to four car bays, underground storerooms and enclosable balconies, as well as a flexible number of bedrooms.

“From our point of view, it’s worth the extra effort,” he said.

“Downsizers are very keen to live in apartments in Perth’s inner-city areas but they also don’t want to lose all the benefits of a family home, so we’re being creative to ensure they don’t have to compromise.

“From a buyer’s point of view, it’s almost like buying a block of land and building your own house.”

The move appears to run counter to wider trends in Perth’s apartments sector, where developers are creating smaller dwellings but providing larger, more sophisticated common areas to provide amenity to purchasers.

Most new apartment proposals in Perth have a significant focus on common amenity, with rooftop terraces providing features such as swimming pools, barbecue areas, outdoor cinemas and gyms.

But Mr Baltinas said the Mount Street location of the Camilla Residences meant he could focus more on what buyers wanted from their apartments, rather than the entire building.

“You can walk over the bridge which is 50 metres away and you’ve got all the amenity of the inner city,” he said.

“There is a yoga studio, you’ve got gyms, you’ve got everything you want amenity wise, and your backyard is Kings Park.

“Why would you want to pay strata levies for facilities that you may not get to use?”

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