KUALA LUMPUR: Finbar Group Ltd, an Australian-based developer, will be launching Aurelia in Kuala Lumpur tomorrow. Aurelia is a 21-storey high-rise consisting of 116 apartments and two penthouses located on the riverside suburb of south Perth in Western Australia. The unit built-ups are from 560 sq ft to 2,702 sq ft and selling price starts from A$435,000 (RM1.24 million).
The apartment complex is due for completion in early-2017 and will have the 96 Mill Point Road, South Perth address. Knight Frank is the marketing agent for Aurelia.
According to Knight Frank’s associate director of residential research, Michelle Ciesielski, the South Perth market witnessed average annual capital growth of 4.1% over the past three years.
“For investors over the same time, gross rental yields averaged 4.84%, up from the 4.24% averaged over the previous three-year period. Apartments make up approximately 45% of the total dwelling mix in the South Perth local government area, with most of these in well-established medium-density complexes,” Ciesielski said.
“Aurelia represents smart and sophisticated living in a highly desirable suburb that not only enjoys the best views of the city, but also has a bustling urban mix of cafes, restaurants, bars and boutiques,” said Knight Frank Australia senior director (residential) Neil Kay. “From sv outh Perth, it’s only a short ferry ride to the Perth central business district and Elizabeth Quay, a precinct being transformed to integrate the city’s riverfront into a vibrant destination for locals and visitors.
Associate director of Knight Frank Malaysia, Herbert Leong believes that, “South Perth offers all the investment characteristics we look for when advising our clients on overseas property investment. By teaming up with Finbar, we know their enviable track record combined with our professional advice will appeal to a wide range of Malaysian investors and we’re looking forward to the exclusive launch in Kuala Lumpur.”
This article first appeared in The Edge Financial Daily, on March 6, 2015.