The Watson sells $50 million worth of apartments at public launch

The $120 million Watson Apartments in Walkerville Adelaide sold $50 million worth of property at its mid-March launch.

Securing the sale of 135 apartments out of the 220 apartemnts, the nine-storey building is now 63% sold.

Located four kilometres from the CBD, the latest development by Asian Pacific Group will include a mix of 220 residential apartments and 30 hotel rooms.

One bedroom apartments range in price from $270,000 to $297,000.

Two-bedroom apartments range in price from $360,000 to $551,000.

The sizes for one and two bedroom apartments range from 40 square metres to 66 square metres plus balconies.

Penthouse apartments are still available and offer the opportunity for buyers to work with architects Tectsys to design their own apartment.

As the penthouse level has not yet been built, it gives the opportunity to buyers to tweak the existing layout prior to construction.

Penthouses are priced from $700,000 to $2 million and range in size from 94 square metres to 255 square metres, plus balconies of 49 square metres to 121 square metres.

“Buyers have ranged from young professionals looking to live close to the city to empty nesters keen to downsize and enjoy the low maintenance lifestyle offered by The Watson,” says Asian Pacific Group Chief Executive Officer Will Deague

Residents will have full access to the hotel facilities, including a Michael Klim designed pool and deck, restaurants and health and recreational facilities.

Residents will also have the choice to hire one of the hotel’s smart cars or bicycles for a nominal fee.

The Watson will form part of the Art Series Hotel Group, which currently includes The Cullen, The Olsen and The Blackman in Melbourne.

The development has been named after Tommy Watson, a senior Pitjantjatjara elder who has become a significant contemporary indigenous Australian artist.

A mix of owner-occupiers and investors have so far purchased in the apartment complex.

“Investors have also been keen to jump on board noting the pent up demand for rental accommodation in Walkerville and the strong capital growth potential.”

“Buyers have recognised that the opportunity to buy a new apartment in Walkerville is unlikely to be offered again for many years to come,” says Deague.

The median unit price for Walkerville is $475,000 and offers a rental yield of 3.4%.