Location and views big drawcards for Blackburne’s East Perth Enclave Apartments

Views from the rooftop dining area.
Views from the rooftop dining area.

THE location was one of the key drawcards for many buyers at Blackburne’s recently completed Enclave Apartments at 35 Bronte Street, East Perth.

Several buyers purchased homes just so they could walk to Matagarup Bridge and Optus Stadium.

The 69-apartment development is also in walking distance of some of Perth’s best bars, restaurants, theatres and cultural experiences, the WACA, Gloucester Park, Claisebrook Cove and Royal Perth Hospital.

The views are another feature, with the apartments offering river and city views; they are particularly spectacular from the rooftop terrace.

The 12-storey complex includes a mix of one, two and three-bedroom apartments that have attracted a variety of buyers.

Blackburne managing director Paul Blackburne said 50 of the 69 apartments were sold before construction was completed and he expects the majority of the remaining apartments to be sold before Christmas.

“We’re expecting 400-500 people to come through and have a look at them over the next couple of weeks,” he said.

About 70 per cent of purchasers of the larger apartment are owner occupiers, with the project holding strong appeal for downsizing baby boomers.

“There are not a lot of options to go into a boutique, higher end project with good common facilities and views of the river and city, so we have seen a lot of downsizers,” Mr Blackburne said.

“For the smaller, more affordable apartments about 20 per cent of buyers are first-home buyers, and some of these are parents buying them for their children, and some are young couples that are buying them to move into themselves.”

Mr Blackburne said the number of investors purchasing apartments was of particular interest.

“The investor market is starting to return and for the first time in a while we’ve got about 20 per cent investors,” he said.

“Most are the more sophisticated, repeat investors, those that have been around a while and see that the market has probably reached the bottom and rental yields in this building are very good – 4.8 per cent which is 30 percent higher than Sydney or Melbourne.

“This means the rent will cover all of the interest on a mortgage, the strata levies, rates and taxes.

“We haven’t seen neutrally or positively geared properties in Perth for a long time, but as the quality of apartments has gone up, prices down, and rents are starting to edge up, for the first time in my career we’re starting to see positively geared properties.”

Mr Blackburne said there were already 170 people registered to rent at Enclave and he expected all the available apartments would be leased within a month.

“Rental demand for higher end apartments in boutique developments with good views is very strong,” he said.

Enclave was designed by Hassell and built by Jaxon.

It was designed to suit the heritage East Perth vibe with exposed exterior brickwork and bronze accents.

The common facilities and apartments include the quality features buyers have come to expect in a Blackburne development.

Unlike some of the company’s other projects, it does not include a pool, spa, sauna or steam room.

“By not including these amenities we’ve been able to keep strata levies low and that’s been part of the appeal of Enclave,” Mr Blackburne said.

“You’ve got a high-end boutique development with great river and city views, with low levies, because while we put in rooftop resident amenities like a gym, media room and two private dining areas, they’re not a lot of cost to run.

“We felt there was a real market for this, and there has been.”

Enclave will be open for viewing on November 3 and 4 from 11am – 2pm.

For more information visit www.enclaveperth.com.au.