CHANCE TO REACH UPPER ECHELON
OFF-THE-PLAN luxury apartments are still proving a hot commodity with home buyers and investors, with a new South Perth development becoming another prime example.
Giorgi Exclusive’s project Echelon on the South Perth esplanade has sold one third of its residences and 80 per cent of its office suites since its launch in March.
Having reached significant sales targets in what could be described as a soft real estate market, Giorgi Exclusive managing director Claude Giorgi said the results were a positive outcome.
“We are due to commence construction and these results give us the confidence in how our design and construction capabilities meet the requirements of this end of the market,” he said.
The nine-storey architectdesigned apartment complex offers 12 apartments, with four sold in the first two weeks of formal marketing.
All homes enjoy uninterrupted views of the Swan River and Perth skyline and have three bedrooms, large balconies or terraces, and vary between 253sq m and 258sq m in floor area.
There are two impressive topfloor penthouses with main living areas that feature 4.5m-high ceilings, with some buyers already showing interest in merging them to form a premium residence spanning more than 500sq m.
“Echelon’s architecture makes it even more attractive as there is continuing interest in the remaining eight residences,” Mr Giorgi said.
“We wanted something with a uniqueness and design that is befitting of the site and a quality that will give it presence in the area.
“And at between $5 million to more than $7 million, it means the square metre rate is either at or below what the other premium South Perth esplanade penthouses have sold for.”
Every apartment has been finished to a premium standard with some of the finest inclusions, such as Miele integrated appliances in the kitchen and larder, built-in stainless steel gas barbecues and wok burners in the outdoor entertaining areas, and large format porcelain tiling to all living areas.
Mr Giorgi said most buyers were in the over-50s age group and looking to live in top-end, low-maintenance properties.
“This is especially so once their children leave the traditional home and these buyers then look for a luxurious lock-andleave lifestyle,” he said.
“People obviously want to move from their nice homes to an apartment that reflects the lifestyle they are after.”
The boutique apartments will be above a restaurant, offices and parking on the podium and basement levels.
Four of the five office suites have been sold to South Perth businesses attracted to the location and views.
The restaurant, which has river vistas, has gained interest from leading Perth, national and international restaurateurs.
For more, visit www.echelon southperth.com.au.