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Key selling points
- Waterfront development
- Stage 2 of a 9 stage redevelopment
- South Australia is in the early stages of a resources boom
- Marina berths included with some apartments
- Rental guarantee available on some apartments
- Secure now on just 10%
Overview:
A $2 billion waterfront development located on the historic Port Adelaide harbour and just 20 minutes from the Adelaide CBD. The largest redevelopment ever undertaken in South Australia. This ten year project will see the complete transformation of the original port into a mixed use development of residential properties, tourism precinct, leisure and commercial along 6 kilometres of the harbour. The 2,000+ residences and 560 marina berths is expected to attract over 4,000 new residents to the area.
Stage 2 (of 9 stages) is expected to complete in November 2008. Residents will have exclusive access to facilities including pool, spa, sauna and gymnasium. Some apartments include a marina berth, all apartments have secure car parking.
Home to 73% of South Australia’s population, Adelaide has been ranked Australia’s most competitive business city by KMPG International, strengthening the impact of the $20billion in new resources related infrastructure which is to be built in the state throughout the next 10 years. The strength of the resource boom and the added impact of the successful tender to build Australia’s next generation of Navy destroyers, at a cost of $8 billion over the next 10 years has South Australia expecting to have economic growth above 4% over the next 15 years and above 5% over the next 4 years. For the past 10 years it’s growth has only been around 2.75%, compared to the national average of 3.25%. Now is the time to entire the South Australian property market and the early stages of a waterfront project close to the CBD is an excellent opportunity to benefit from the expected future growth.
Location:
Port Adelaide, South Australia
TRANSPORT
20 minutes by car to Adelaide CBD 15 minutes by rail from Adelaide CBD 15 minutes by car from Adelaide Airport
RECREATION 6 kilometres of water front promenades, pedestrian and cycle networks featuring public art, parklands and recreational facilities. 6 golf courses within 25 minutes 10 mins by car to AAMI Stadium 5 minutes by car to LeFevre peninsular beaches
SHOPPING Situated close to West Lakes Mall, local restaurants, cafes & beachside eateries on Semaphore Road
Investment Structure:
Strata Titled apartments and residences
Key Dates:
Estimated Completion Date: November 2008
Inclusions:
Situated overlooking the harbour and marinas, offering a high level of specification:
Reconstituted stone benchtops
Bosch appliances
Split system air conditioning
Spa bath & sauna to selected Terrace & Sky Homes
Electric fireplace to selected Terrace & Sky Homes
All apartments have at least one secure car space
Some apartments have a marina berth
Residents will have exclusive membership to the facilities, which will include:
swimming pool
sauna, spa and gymnasium
tennis and squash courts
day spa an wellness centre
meeting rooms and boardroom facilities & business centre
yoga room
DVD cinema room
pottery and activity rooms
restaurant and club bar
$10m committed to public infrastructure including promenade upgrades, boardwalks, & pedestrian bridge. Private & public mooring berths
Prices & Availability:
One, two and three bedroom apartments and three bedroom terrace homes are available, from AUD$323,000 to $979,000.
Gross rental returns:
Projected at around 5% (of the purchase price). A rental guarantee is in place for apartments under $500,000 at 5% gross for 6 months.
Purchase Process:
These apartments can be secured with a cash deposit of 10% of the purchase price with the remaining 90% due at project completion. These apartments can be purchased by non-resident investors; non-resident investors can generally obtain funding (subject to normal bank lending criteria etc) for up to 80% of the value of the apartment. Documents for general purchase procedures for non-resident investors are available, please email.
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