Mirvac has defied market pundits by successfully launching The Peninsula in Perth, a joint venture with Burswood Limited, and the final stage of Beacon Cove in Melbourne.
Mirvac Fini has pre-sold 58 apartments at The Peninsula valued at more than $40 million in the first release of 75 apartments.
Prices start from $400,000 for two bedrooms to $950,000 for three and four bedrooms apartments.
The development will house more than 3,000 residents comprising of approximately 1200 dwellings.
Mirvac is proven that well positioned and quality properties will continue to be popular and sell.
“The result demonstrates the strength of demand for quality living close to the city, as well as the confidence that exists in Mirvac Fini to deliver a first class product to the Western Australian marketplace,” chief executive of Mirvac Fini Adrian Fini says.
“The strong result is a testament to the future success of the project and demonstrates the many benefits of this unique location.” managing director of Burswood Limited John Schaap says.
In Melbourne, Mirvac has also offloaded the final stage of Beacon Cove, the award winning 900 dwelling community, selling more than $70 million of homes and apartments in one night.
Prices ranged from $450,000 to $3 million for apartment and houses at the Beacon Cove with nine waterfront houses selling for $4.5 million.
Construction of the final stage will commence early next year and is scheduled to be completed within two years.
“The two releases as well as sales showed demand for Mirvac’s residential projects across Australia remained healthy despite the tightening interest rate” managing director of Mirvac Robert Hamilton says.
Mirvac has made more than $220 million in sales in Western Australia, Victoria, NSW and Queensland since the first official interest rate rise announcement by the Reserve Bank of Australia.
