Construction to start on Mirvac’s Leighton Beach Compass development

An artist's impression of the Compass complex.
An artist's impression of the Compass complex.

CONSTRUCTION on Mirvac’s Compass Latitude Leighton Beach apartments will commence this month.

It is a positive sign for the Perth apartment market, where building approvals have declined over the past 12 months.

Mirvac head of residential Stuart Penklis said while there was a shift in the property cycle across Australia, there was still activity in the apartment market because buyers had the opportunity to be more discerning and the right product in the right place was still selling well.

“We believe there is always a market for quality product in desirable locations,” he said.

“What Mirvac is exceptional at is identifying desirable locations that have infrastructure in place, access to transport, amenities, services and recreation, and designing extremely liveable apartments at the right price point.

“We’re thrilled to have reached 50 per cent pre-sales at Compass, and to be commencing construction this month.”

The $40 million, 104-apartment project in North Fremantle is expected to take 18 months to complete and is the final stage of the company’s residential involvement in LandCorp’s Leighton Beach redevelopment.

Mirvac was also involved in the development of public amenities at the precinct, building the Fremantle Surf Life Saving Club and adjacent parkland in 2011 and delivering the plaza connection between North Fremantle train station through to the beach front.

The area has gained a large, loyal visitor base, with the emergence of popular eateries Bib & Tucker, The Orange Box and Pura Vita surrounding the beach.

Gourmet food and wine operator MRKT Space have also recently opened on the ground floor of Mirvac’s Meridian building and the remaining three retail units in the development are now sold, bringing more quality amenity to the beachside community.

Mirvac chief executive Susan Lloyd-Hurwitz said Compass was an example of the company’s vision to reimagine urban life by enhancing growing communities with excellent design, new amenities and opportunities to engage and connect residents and visitors.

“Mirvac has been investing in the Leighton Beach re-development since 2006, with a pledge to create a wonderful beachside community on this iconic site,” she said.

“It has taken a steadfast commitment to our vision and to what we knew would be a great offering for the Perth apartment market.

“We are now seeing the results of that confidence with a thriving new beachside community coming to life.”

Compass will include one, two and three-bedroom apartments priced between $455,000 and $1.145 million.

It will also feature a range of new, larger format two-bedroom, two-bathroom apartments with over 30sq m of balcony and winter garden space that are expected to appeal to downsizers and young families.

“Mirvac’s intent is to provide a product that meets the changing demands of modern living while delivering on location, quality and amenity,” Ms Lloyd-Hurwitz said.

“The fact that we are commencing construction shows the value that buyers place in finding the right apartment for them.

“In this case it’s right on the beach, close to a train line, five minutes from Fremantle and connected to the CBD.”

An artist’s impression of the communal Sunset Lounge at Compass.

For more information visit www.compass.mirvac.com.

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