Mirvac's Aquarius flush with sales

MIRVAC'S Aquarius apartment development at The Peninsula in Burswood, Western Australia has sold out over the weekend – notching up more than $54 million.

The 45 apartment building is the fifth to be built at The Peninsula, and once complete, Aquarius, located at the southernmost point of the site, will boast spectacular views of the Perth CBD, Swan River, or the Darling Ranges.

Prices in the 14 level building sold for between $750,000 and $1.86 million, at an average price in excess of $1.2 million.

Mirvac’s WA development chief executive Evan Campbell said the weekend’s result clearly confirms that the underlying demand for quality owner occupier apartments in WA is still strong.

“Since the launch of the first apartment building in late 2003, Mirvac has sold more than $600 million worth of product at The Peninsula and the project continues to generate a high level of interest from potential purchasers who are keen to capitalise on the site’s unique lifestyle benefits and stunning location,” he added.

The Peninsula at Burswood, which is a joint venture project between Mirvac and AustralianSuper, is rapidly developing into a vibrant community with the completion of the first two apartment buildings, terraced and courtyard homes and parks – more than 250 residents now call The Peninsula home.

Construction on Aquarius will commence in April 2008 and is expected to be complete in 2010.

Australian Property Journal