Jean Yip Holdings launches Elements at Carousel in Perth
Jean Yip Holdings, a subsidiary of lifestyle conglomerate Jean Yip Group that is better known for its hair and beauty salons, has launched a 10-storey mixed development project Elements at Carousel in Perth. The freehold development consists of 114 residential units and four commercial units on the ground floor on a land area of 26,877 sq ft. It is situated across the road from Westfield Carousel, Perth’s largest shopping centre. The mall is 12km from Perth’s city centre and is home to major retail outlets and supermarkets such as Coles, Woolworths, Myers, David Jones and more. With 350 specialty stores including a cinema, the mall has also recently undergone a $350-million redevelopment in 2018.
The property is a 10-minute drive to Curtin university and within 15 minutes by foot to Cannington Community College and Sevenoaks Senior College. There is also an aquatic centre, Cannington Leisureplex, within a few minutes’ walk away.
Based on historical data, the property market in Sydney and Melbourne on the East Coast, and Perth on the West Coast, tend to be counter-cyclical, observes Roy Fong, general manager of Jean Yip Holdings. “With property prices declining from record highs in Sydney and Melbourne, and signs that prices are bottoming out in Perth, we view this as a great opportunity for home buyers and investors,” he says.
Perth’s public transport system and general infrastructure have been improving, adds Fong. Additionally, Perth is just a five-hour flight time from Singapore, Kuala Lumpur and Jakarta. The exchange rate between Singapore and Australian dollar is also favourable at $1 to A$1.04.
Perth is also a popular destination for tertiary education among Singaporeans and other Asians in the region. “We believe Perth is poised for more international migration,” Fong adds.
Beyond international buyers, there is also a growing trend of empty nesters who prefer to downsize from a house to apartments in Australia. This has resulted in an increase in demand for apartments, says Fong.
Elements at Carousel has 24 one-bedroom units starting from A$279,000, 15 one-bedroom and study units starting from A$327,000, four two-bedroom apartments with one bathroom starting from A$359,000, 65 two-bedroom apartments with two bathrooms starting from A$374,000 and six three-bedroom apartments starting from A$499,000.
The apartments come furnished with Bosch cooktop, rangehood and oven, Fisher Paykel combined washer and dryer, LED lights, stone benchtops and cabinetry. The ceiling height of the apartments is approximately 2.7m high.
The development has been designed with energy-efficient lighting, landscaping, solar photovoltaic system and a multi-level skylight, and has 6.5 out of 10 stars under the country’s nation-wide house energy rating scheme.
While Elements at Carousel is Jean Yip Holdings’ maiden property development overseas, the company has been developing luxury houses and prime apartments in Singapore since 2002. They include bungalows at 33 Shelford, a pair of semi-detached houses at 51 Chancery Lane and the 26-unit condominium project, The Enclave at Holland. Jean Yip also has a portfolio of investment properties in Singapore and Japan. E