KUALA LUMPUR: A unique investment opportunity exists for Miri residents with the newly released Lakeview Apartments located within the city centre precinct of the City of Rockingham, considered the “Gold Coast of Perth” and the fourth fastest growing city in Perth, Western Australia, over the last decade.
The city of Rockingham is an economic hub located within the south-west coastal strip of Perth’s metropolitan region.
Close to the maritime and resource related employment hubs of Kwinana and Henderson, it is a 20 minute drive from Fremantle and just 30 minutes from the Perth CBD (about 40 km south).
Rockingham is also well-serviced with public transport.
Rockingham Train Station provides a direct train line to Perth CBD with only 8 stations between Rockingham and Perth Underground Station and a journey time of 31 minutes.
Lakeview Apartments are set within the grounds of City Park which boasts two lakes, kids playground, picnic facilities and stunning water features.
The development is less than 2km from Rockingham Beach and 400m from Rockingham City Shopping centre a major hub within Rockingham.
A range of 1 bedroom and 2 bedroom apartments are available for sale with prices starting from A$315,000. This price is well below the median unit value for Perth which currently stands at A$464,000. The population of the City of Rockingham is approx 120,000 people.
The area has seen huge population growth recently with an increase in population of 10 per cent over the last two years.
There are numerous local industries in the Rockingham area, including a nickel refinery, large grain silos, fishing, horticulture, viticulture, forestry and various forms of light industry.
There is also a healthy tourism industry, with attractions including dolphin watching, Penguin island, the Shoalwater islands and wineries.
Just outside the city boundary, at Kwinana Beach, is a major industrial precinct/jobs node, including an oil refinery, a container terminal and a fertiliser factory.
The State government announced plans in May 2011 to double the output of Perth’s industrial precincts which included the Kwinana and Rockingham industrial zones.
The largest naval base in Australia is located on Garden Island, just 5km off the Rockingham coast and is home to 2,300 service personnel, 600 defence civilians and 500 long-term contractors.
The area is also a hub for education with numerous schools, Murdoch University and the newly constructed Challenger Institute of Technology. Rockingham offers all levels of education in the one location.
The rental vacancy rate in Rockingham is currently only approx one per cent which reflects the strong demand for accommodation in the area.
This tight rental market has caused rents to significantly increase in the area with the Lakeview Apartments achieving approximately six per cent rental yield. With interest rates in Australia currently under five per cent, this means that owning a property in Perth could be “cash flow positive”, meaning it doesn’t cost you anything to hold.
Capitalise on a once in a lifetime opportunity to invest in the boom state of Western Australia which is abundant with natural resources, particularly iron ore, LNG and gold.
For any inquiries, please contact All Property Solutions at 018-2081886, 018-2833016 or email – [email protected].