Cockburn Gazette - - DRIVEWAY -

MIRVAC has launched its Com­pass apart­ment de­vel­op­ment at Lat­i­tude Leighton Beach along with a new in­cen­tive for first-home buy­ers.

The Com­pass project will in­clude one, two and three­bed­room apart­ments priced from $420,000 to $1.145 mil­lion, with a range of floor-plan op­tions, gen­er­ously sized bal­conies and qual­ity fit­tings.

It is in walk­ing dis­tance of Leighton Beach and North Fre­man­tle train sta­tion and will be part of a dy­namic and grow­ing com­mu­nity.

Mirvac WA gen­eral man­ager, res­i­den­tial de­vel­op­ment Paige Walker said the de­vel­op­ment met all the re­quire­ments de­sired, but of­ten out of reach for first-home buy­ers.

As a re­sult the com­pany has launched The Right Start ini­tia­tive for the Com­pass project to make buy­ing a beach­front apart­ment more at­tain­able for first home-buy­ers.

The Right Start aims to re­duce the ini­tial de­posit bur­den, which is tra­di­tion­ally 10 per cent, al­low­ing el­i­gi­ble first-home buy­ers to pay an ini­tial 5 per cent de­posit fol­lowed by two an­nual 2.5 per cent pay­ments on se­lected apart­ments priced to qual­ify for the First Home Owner Grant (FHOG) and/or stamp duty con­ces­sions.

As an ad­di­tional in­cen­tive, Mirvac will also pro­vide el­i­gi­ble first-home buy­ers with $5000 to top up the FHOG.

Ms Walker said de­spite Perth prices be­ing their most af­ford­able in years, first-home buy­ers were still fac­ing a big hur­dle to tak­ing their first steps on the prop­erty lad­der.

“With the re­lease of our Com­pass apart­ments at Lat­i­tude Leighton Beach from just $420,000 and The Right Start ini­tia­tive, we be­lieve we are help­ing first-time buy­ers take that ini­tial step by low­er­ing the en­try barrier,” she said.

Rosa Mar­low and Jef­frey Pelc were the first to take ad­van­tage of the ini­tia­tive.

For more in­for­ma­tion visit the new ocean-fac­ing sales cen­tre, lo­cated in Prima apart­ment 102, 29 Leighton Beach Boule­vard, North Fre­man­tle.

Visit www.leighton­beach. or call 0466 514 277 for open­ing times.

An artist’s im­pres­sion of Mirvac’s Com­pass de­vel­op­ment.

First-home buy­ers Rosa Mar­low and Jef­frey Pelc.

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