Prestige Crawley residential project investment opportunity offered by Momentum Wealth

Property investment consultants Momentum Wealth are inviting wholesale investors to participate in the development of their newly secured riverfront site in the Perth suburb of Crawley.

The 1,539sqm late 1960s site was secured in an off-market transaction, located nearby the Blue Boat Shed, Perth’s most photographed building.

The six existing apartments on the site will be demolished and developed into a prime development, said Momentum Wealth’s Philip Anderson.

“This development will be the first development fronting Mounts Bay Road with sweeping river views in over 10 years”, he said.

The site is located in a small, tightly held residential pocket between Kings Park and Mounts Bay Road with limited prospects of future supply.

“That pocket of Crawley is an established apartment market with an older, more affluent owner-occupier demographic which makes it perfectly suited to an iconic development of this nature,” Anderson said.

Each of the proposed apartments in the complex will be set over its own floor, offering luxury amenities.

A minimum investment of $100,000 is required from potential wholesale investors.

The project will be targeting an internal rate of return between 18 and 20 per cent, with a total equity raise of $10 million.

Comprising of between eight and 10 apartments, the development is expected to appeal to local, interstate and international buyers.

Amenities will include large outdoor living areas, three parking bays per apartment and views of Swan River and Kings Park.

Expressions of interest are now open at Momentum Wealth.