05/01/1999 - 21:00

Rockingham dips a toe in luxury

05/01/1999 - 21:00

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Oceanfront Rockingham Beach Road is to become the venue of a new luxury apartment strip offering high-rise ocean views of Garden and Rottnest islands.

Rockingham dips a toe in luxury

Oceanfront Rockingham Beach Road is to become the venue of a new luxury apartment strip offering high-rise ocean views of Garden and Rottnest islands.

Rockingham Mayor Barry Sammels recently opened the first high-rise residential complex, Aria Luxury Apartments on Rockingham Beach Road.

The $18 million, nine-storey complex, which is within 35 minutes of the Perth’s CBD, was built by property developer, Cedar Woods Properties Limited.

Aria Apartments is Rockingham’s first foray into luxury apartment-style living.

The apartments’ design makes use of glass and large balconies to maximise views across the bay and to the nearby offshore islands.

With the complex being situated just north of Flinders Lane, the proximity to cafes, restaurants and shops is a major selling point.

Following 20 months of construction, Aria Apartments proved popular with investors and homeowners alike, selling out from the plans by July 2004, even before construction had begun.

Twenty of the 32 apartments had sold, off plans, within three months of being available for inspection and the remaining dozen, including penthouses, had been purchased within six months.

The price range over the entire complex was between $5,000 and $6,000 per square metre.

This is well above the average price per metre registered during the first quarter of 2005.

According to findings of the Urban Development Institute of Australia, metropolitan Perth’s March quarter average price per square metre for new apartments was $4,327, a rise of 3 per cent over the previous quarter.

And the metropolitan area’s average price per square metre for existing apartments in the March quarter rose by 4 per cent over the December 2004 quarter.

Cedar Woods managing director Paul Sadleir said the complex’s presence on the Rockingham foreshore had set the benchmark for nearby developments and the resort’s surrounding cafe strip.

 “The gradual transformation of the foreshore has been amazing – from the small local cafes to some of the more prominent businesses,” he said.

“Rockingham’s retailers are getting behind the new look and renovating their shop fronts accordingly.

“We are very excited with the finished product.”

Aria Apartments are located on one of Western Australia’s few north-facing beaches and overlook Rockingham Beach and Garden Island.

The nine-floor complex offers luxury one-, two- and three-bedroom residences, including four two-level penthouses.

Mr Sadleir said Aria Apartments had transformed the Rockingham foreshore.

“The success of Aria reinforces its position as a popular beachfront lifestyle choice for local residents,” he told WA Business News.

Mr Sadleir said the buyer profile indicated approximately two thirds owner-occupiers, with most of these either from Rockingham or southern Perth suburbs.

“Much of the excitement surrounding Aria Apartments is due to its superb location and the design of the apartments,” he said.

Cedar Woods’ second luxury apartment development on the Rockingham beachfront, Nautilus Apartments, is progressing according to schedule and is expected to be completed mid-to-late next year with settlement and occupation programmed to occur by the end of 2006.

The Nautilus Apartments complex is also situated on Rockingham Beach Road and it will be a nine-storey complex, comprising 62 luxury air-conditioned apartments.

The offer includes one-, two- and three-bedroom apartments as well as a selection of sub-penthouse and penthouse apartments with the average price per apartment being $520,000.

All feature an outdoor terrace to enhance enjoyment of ocean views. The complex includes a lap pool, gymnasium, and secure covered car bays.

More than 80 per cent of the apartments have already sold, with 10 apartments remaining for sale.

Incorporated in 1987, Cedar Woods Properties Limited is a publicly listed company involved in property development and investment in Australia.

Cedar Woods’ main interests are in urban land subdivision for residential, commercial and industrial purposes with a strong emphasis on consideration of environmental and community interests.

Its portfolio of assets is located in both WA and Victoria.

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