Alfred Cove

10 Unit Apartment Complex with Commercial Space in Alfred Cove

Project Overview

In a prime location south of Perth, near the picturesque Swan River, JAV Developments undertook the construction of a contemporary apartment complex designed to cater to the growing demand for short-term accommodations and maximize investment returns. The project, commissioned by a single investor, aimed to create a blend of residential and commercial spaces that offered a unique investment opportunity, particularly in the burgeoning market of service apartments and short-term rentals.

Project Features

The development consists of ten residential units and a commercial area, strategically designed to capitalize on the popularity of platforms like Airbnb for short-term stays. Classified as Class 3, the building is dedicated to service apartments, making it ideal for both short-term and long-term tenants. The residential units include a mix of 2-bedroom, 2-bathroom apartments and 1-bedroom, 1-bathroom apartments, and Studio apartments all situated on the first and second floors. Apartments ranging in size from 27m2 to 64m2.

Design and Amenities

The ground floor features spacious parking facilities accommodating both residents and visitors, as well as the commercial tenant. A commercial lift provides convenient access to all floors, ensuring easy mobility for occupants. The building’s design focuses on modern aesthetics, with key features that are cost-effective yet maximize the functionality and appeal of the apartments. The complex boasts a 6-star energy efficiency rating, aligning with contemporary sustainability standards.

Strategic Location and Market Potential

The development’s proximity to amenities and the Swan River enhances its attractiveness to potential tenants, both for short-term stays and longer-term occupancy. The strategic location makes it a sought-after area, providing a high potential for returns on investment. The project received support from the City of Melville, further enhancing its viability and alignment with community planning goals.

Investment and Future Prospects

Built under the “Built To Rent” concept, the project was designed to maximize returns for the investor, offering a stable income stream and potential for capital appreciation. The inclusion of commercial space adds an additional revenue source, diversifying the investment and mitigating risks. The building’s design and amenities are tailored to attract a broad tenant base, from short-term visitors to long-term residents, making it an attractive option for superannuation self-managed funds.

Conclusion

This apartment complex exemplifies a successful investment model in a highly desirable location. With its modern design, strategic amenities, and focus on energy efficiency, the project stands as a testament to JAV Developments’ expertise in creating value-driven construction solutions that meet market demands and provide long-term benefits for investors