Canning Bridge Precint

[Woodley]

There are a number of new developments happening on the Mt Pleasant side of Canning Highway, within a few 100m of the river and train station.
Stage 1 has an 8 story, 34 apartment development with some commercial (due for completion mid 2015) and stage 2 will have a 20+ story complex with residential and commercial.
What are people's thoughts on investing in this kind of development and location?

 

[matt353]

raffles

just have a look at the raffles mate, I know the apartments there were a bit over priced at the time so were slow to move

the development you are talking about looks the goods but is very close to the Canning Highway so noise may be a problem

the area is great close to everything and has normally a low vacancy rate

all depends on the developer and how many $$$$ he wants back I guess

also be careful at over supply of apartments with Rivervale, Burswood and East Perth all set to add a lot more apartments you may not get your bang for your buck or may experience slow growth

 

[Kent Cliffe]

just have a look at the raffles mate, I know the apartments there were a bit over priced at the time so were slow to move

Raffle's OTP plan sales were all gone within 1 day. In fact, I know of someone who still kicks himself he didn't go to the launch as he was hung over.

Unless the project is as unique, apartments across the board are going to be an oversupply in Perth. Supply should start coming on in 18 months.