A Multi-Billion Dollar Private Infrastructure Investment Represents a Huge Opportunity for Investors

Perth is on the brink of receiving a multi-billion dollar investment in private infrastructure, according to the research report titled Perth Private Infrastructure 2017 by Perth-based property investment advisor, Momentum Wealth. The money will be directed into shopping centres, apartments, and inner-city hotels.

Momentum Wealth’s research report details the city’s planned projects which are either already under construction or committed to. The projects include at least 40-large scale apartment complexes, 15 major hotels, and upgrades to shopping centres worth $4 billion.

According to the managing director of Momentum Wealth, Damian Collins, this imminent investment in private infrastructure could be a gold mine for property investors.

Mr. Collins said: “While these developments will create tens of thousands of jobs and buoy the Perth economy in the coming years, many of these projects will also enhance amenity in local communities, which will help to drive demand and prices for nearby housing.”

According to Mr. Collins, investors should act early if they want to maximise the profitability of their investment, as property prices are likely to rise in areas around where the investments will be made. However, we still may be waiting for quite some time before the effects kick in.

Mr. Collins remarked: “Although some of these apartment, hotel and shopping centre projects have started, the research report shows that the large majority of works are still ahead of us and will be completed over the next 2-4 years.”

Where Should You Put Your Money?

While the research report details the unprecedented building boom that’s about to take place, Mr. Collins advises investors to be vigilant when deciding where to make investments. He says investors ought to avoid investing in hotel developments.

“Hotel developments are typically limited to the Perth CBD, and while they will help stimulate the local economy by creating jobs, these projects won’t have a direct impact on property markets.”

Instead of focusing on hotels, Mr. Collins recommends investing in new apartment and shopping centre developments that will attract property hunters to the newly developed areas.

“The research report explains that investors should focus on metropolitan apartment and shopping centre developments that deliver more tangible benefits to local communities by way of new cafés, shops, restaurants and cinemas. New amenities that come with these projects will help buoy values of nearby housing as more people [will] want to live in these areas. It is these types of projects that investors need to consider when buying their next investment property.”

According to the research report, apartments in suburban areas will include retail, restaurant, and café offerings at ground floor level, and leisure outlets and main-street dining venues will surround shopping centres to ensure the surrounding areas stay active after 5 pm.

Don’t Forget Other Ways to Maximise Your Investment

At Furniture Fitouts, we know that the best way to make good on your investment is to not only search for properties in up and coming areas but also to ensure they have an impressive interior décor that appeals to property hunters. We complete fitouts to the highest standards in under three days, so if you need a quick turnaround and a high-quality finish, we’re the company to call.

Perth’s Elizabeth Quay Development Could Get Some Taller Than Anticipated Skyscrapers

Skyscrapers towering over 50 storeys could be built in the Elizabeth Quay development, transforming the project from a tourist attraction into a vertical suburb. The original development guidelines stated that buildings could be a maximum of 30 storeys, but exceptions could be made for exceptional architecture.

Developers are planning to build over 1,000 apartments, and though sales prices could fall between $763,000 and $1.5 million, homes will be available to low-income earners and first-time buyers thanks to proposals put forward by the Housing Authority.

These new plans for the waterfront development come as developers and city planners wish to bolster Perth’s global city status. Previous development guidelines limited the height of buildings to prevent overshadowing and maintain the city’s overall image, but the new proposals take these factors into account.

Colin Barnett, the former premier who oversaw the creation of the Elizabeth Quay development, said he didn’t have issues with any tower taller than 50 stories “as long as it is good architecture, the view ways are protected and there is no issue with overshadowing.”

The Constructions That Could Transform Perth’s Skyline

Brookfield, a developer, has put forward plans for a development named PERTH+, which includes a 51-storey tower at Elizabeth Quay’s Lot 5 and a 19-storey tower at Lot 6. According to Brookfield’s regional director, Nicholas Ozich, the tallest building – which will be Perth’s third tallest at 220 metres – would house 200 apartments, restaurants, a hotel, and commercial space. The smaller tower would mostly accommodate offices.

The new proposals diverge from the original development plans, with the Lot 6 tower heightened and the Lot 5 lowered, but the total square metres adheres to the planning framework

What Mr. Ozich describes as an “iconic design” has resulted from a competition that REX Architecture won last year. According to Mr. Ozich, there will be 75 percent sunlight across the development’s public realm year-round. If the Metropolitan Redevelopment Authority approves the plans, the tallest tower at Lot 5 will be completed by 2021.

In addition to PERTH+, developer Adrian Fini intends to build EQ West at Lot 2, which is a 52-storey building comprising of 484 apartments, a sky deck, and an art gallery, though the site was originally intended for a 20-storey construction.

Mr. Fini’s company, CA & Associates, said: “There is no more suitable location for iconic international architecture in Perth. This is the building that Perth has been waiting for to showcase its growth as a global city.”

The Housing Authority (HA) is in talks with the developer to buy apartments, and it plans to recoup the money through affordable rentals and shared-equity sales. HA acting director Paul Whyte said: “This would give first-homebuyers or lower income earners an opportunity to buy a home in a high-amenity location close to their place of employment and transport links.”

Experts in Interior Design

At Furniture Fitouts, we’re sure that if the proposals are approved, Perth has some stunning architectural masterpieces to look forward to, and iconic constructions should be complemented by an outstanding interior design. We specialise in complete home makeovers and guarantee a three-day turnaround, so whether you live in a luxury apartment or a quaint house in the suburbs, we’re the company to call.

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