The jewel in Adelaide’s crown is attracting investors
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West Franklin, which is being touted as the jewel in Adelaide’s crown is fast becoming the number one choice for investors.
Located in the heart of Adelaide’s City West area on the corner of Franklin, Elizabeth and Morphett Streets, the lifestyle precinct offers significant opportunities for investors.
West Franklin is one of the largest urban regeneration projects ever undertaken in the Adelaide CBD and occupies a 5,000 sqm area.
Nicho Teng, Managing Director of Greaton, developer of the project, “West Franklin will make a bold statement on Adelaide’s skyline. We purchased this site to create an iconic destination and will deliver that promise.
“West Franklin will become a new and exciting lifestyle destination that epitomizes luxurious city living. Its unique attributes are fast attracting local, interstate and overseas investors. Over the past three months, enquiries from investors have trebled especially from Sydney and Melbourne markets.”
He added, “Substantial increases in the local population are predicted over the next decade, with new infrastructure and public amenities planned that co-inside with the completion of stage one in 2018 (280 apartments). Undoubtedly this will add to the desirability of the development and location of West Franklin for investors, making it one of Adelaide’s most sought after residential destinations.”
The Adelaide central business district’s population is tipped to reach 30,00 by 2020, which is more than double what it was in 2001.
Metropolitan Adelaide has registered over $45.6 billion worth of investment into major projects according to Urbis Residential Research Report (May 2016). Key infrastructure projects include the $1 billion Adelaide Airport redevelopment, $350 million Sky City Casino expansion and Convention Centre expansion.
In 2015, Adelaide was rated the 5th most liveable city in the world, achieving top marks in education and healthcare, as highlighted by the Economist Intelligence Unit 2015.
Mr Teng also notes, that Residex statistics from March 2016 show the median value for an apartment in Adelaide was $317,500, rental yields average 5.1% and the median rent is $310 per week.
“Investors have recognised that Adelaide’s rental yields are much higher when compared to Sydney and Melbourne, apartment prices are affordable, employment prospects are strong, the lifestyle is clean and green and an excellent transport network is in place.”
The meticulously designed West Franklin community will comprise 560 luxurious apartments and penthouses spread across four iconic towers. Luxury, lifestyle and liveability capture the essence of this masterplanned community.
Studios are priced from $255,000 to $345,800, 1 bedroom from $266,200 to $448,800, 2 bedrooms from $425,000 to $640,000, and 3 bedrooms from $491,000 to $1,455,000. Extensive balconies provide the perfect environment for outdoor entertaining enhanced by picturesque views of Adelaide’s history and beaches.
West Franklin is within walking distance to major food precincts, the theatre district, universities and the CBD. The Central Market, Her Majesty’s Theatre and China Town are 500 metres away, while Waymouth Street, Leigh Street, Hindly Street and Curry Street restaurants, bars and cafes are within 750 metres.
Several hospitals and universities including New Royal Adelaide Hospital, University of South Australia, University of Adelaide and Royal Adelaide Hospital are all within 2.4 kilometres from the site.
Adelaide Airport is also within 6.9 kilometres from West Franklin, the picturesque Glenelg Beach is a short 10.4 kilometres and the famous Adelaide Hills wine district is a 7.8 kilometres commute.
An onsite display and sales office is open Monday to Friday 10 – 6pm, Saturday 10 – 4pm and Sunday 12- 4pm.
For further information or to register your interest visit www.westfranklin.com.au or call 1300 992 166.