Over 115 apartments sold at QIII

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Created on Friday, 09 December 2011 05:43

Frasers Property Australia has recorded impressive pre-sales for its landmark 'Qlll' apartment building in East Perth, with more than 115 apartments now sold in the newly released development. Total sales since the formal launch on 7th October 2011 are 122 apartments, achieving $88- million at an average price of $721,311. Top value to date is $1.4m for a three-bedroom apartment on the 21st floor.

The month of November alone yielded 44 sales valued at more than $32-million.

Qlll is part of Frasers' Queens Riverside development, which will offer 408 luxury apartments in three buildings and a 236 room all-suites hotel operated under the Frasers Hospitality brand. The development will deliver a new urban quarter for the Western Australian capital at a time when demand for inner city accommodation is increasing sharply.

Frasers chief executive officer Guy Pahor said Qlll was attracting a wide range of local, interstate and international buyers looking to secure a quality property off the plan, underpinned by the state's mining boom. A series of promotional seminars in Singapore last month produced exceptional interest and sales totalling more than $11.1 million.

"The strength of the Western Australian economy makes Perth an outstanding investment location. But it's obvious that quality and amenity is also important because we've seen strong sales at a time when some other properties are struggling to attract buyers," said Mr Pahor.

Queens Riverside is within the WA Government's 'Riverside' redevelopment precinct, set to transform the Perth CBD's urban waterfront with more than 5,000 residents and over 80,000sqm of new commercial and retail space. As the first offering in this major masterplanned redevelopment to hit the market, astute purchasers have quickly identified the project's strong capital growth potential. Sales agent Wayne Briggs said Qlll was an outstanding product for both investors and owner-occupiers. "We're seeing more than 60% of buyers indicate they intend to live here," he said. "That's really unusual for off the plan sales in Perth, where you'd normally get something like 70% or more of your sales from pure investors. "I think it reflects the fact that Queens Riverside offers so much more than a generic apartment building. Queens Riverside is a vibrant lifestyle precinct, and the future amenity of this location is something quite special in Perth," said Mr Briggs.

QIII shares a dramatic porte cochere entry with Fraser Suites Perth, complete with vertical gardens, water features, sculptures and a sparkling canopy, making arriving home a 5 Star experience. "There is no doubt about Frasers' commitment to quality, which is clearly demonstrated in the stunning sales suite for Queens Riverside on Adelaide Terrace," said Mr Pahor."Anyone considering buying an apartment in Perth, regardless of the location, should visit that sales suite as part of their groundwork of buying a home."