FOR the first time in 29 years, Cottesloe has seen the release of an off-the-plan apartment development on its tightly held beachfront, giving homebuyers the chance to secure a slice of prime Perth real estate.
Overton Terraces, on Overton Garden off Marine Parade and 200m from the beach, will offer 12 exclusive oceanview homes, including a mix of townhouses and apartments.
“It’s a fact that contextualises the rarity of land and exclusivity of this type of lifestyle in this location,” developer Australia Development Capital executive director Rod Hamersley said.
“There has been a paradigm shift in what the luxury market is seeking – where a house on a block on Cottesloe was the pinnacle of desirable real estate in decades past, we have seen a move towards high-end apartment living among all demographics.”
Mr Hamersley said buyers who have so far shown interest in the development have not been limited to existing residents who were looking to downsize and remain in the area.
“This apartment development offers a different kind of buyer the opportunity to get into one of Perth’s most iconic and sought-after suburbs,” he said.
“From young executives to families, those living rurally looking for a city base and even those who traditionally found buying in Cottesloe less affordable.”
Mr Hamersley said the broad spectrum of luxury buyers were also seeking housing with flexible living opportunities.
Overton Terraces, designed by multi-award-winning Banham Architects and to be constructed by luxury home builder Adrian Zorzi Homes, comprises three townhouses, three studio units, four luxury apartments and two penthouses.
Every home features open-plan living areas that extend onto expansive terraces to fully realise the ocean panoramas.
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