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Ascot is an inner-city suburb along the Swan River. It is well located between the Perth CBD and Perth Airport and boasts natural waterfront amenity including numerous well maintained parks and walking trails. The abundance of shopping, services and employment opportunities all combine to make this a sought-after area to live.
With the CBD less than a 15 minute drive away, major roads also provide easy access to Curtin University, Crown Casino, the future Perth Stadium and the vibrant cafe strips of Mt Lawley and Maylands. In addition to this, Perth’s domestic and international airports are close by. A future train station in neighbouring Redcliffe will complement regular bus services from Ascot.
Nearby Belmont Forum, Crown Casino and future Perth stadium precinct offer dining and entertainment options to residents. There are many other dining options along Great Eastern Highway, including popular restaurants such as Aquarium and Red Cray.
There are a number of public and private schools in close proximity, including Redcliffe Primary, Belmont Primary, Chisholm College, St Maria Goretti’s Catholic School, Cyril Jackson and Belmont City College.
Ascot Race Course is the major employer in this predominantly suburban neighbourhood. Ascot is also located near major employment centres such as Perth airport and the Belmont industrial area. The Belmont industrial area is home to head offices for a range of construction and logistics firms. Perth airport is undergoing a substantial redevelopment which will offer a range of retail shopping options alongside major logistics and mining sector head offices.
Ascot and surrounding areas are planned to undergo a range of transformative projects over the next decade. The Forrestfield Airport Link, set for completion by 2020, will provide Ascot with an easily accessible train station in neighbouring Redcliffe, significantly reducing travel times to the Perth CBD. The new underground train station will feature a bus interchange and 500 park-and-ride car bays.
The Perth Stadium precinct in conjunction with development around the Crown Casino precinct will become a significant employment hub, with the stadium set to host in excess of 60 events per annum.
The Belmont Forum shopping centre is also progressing significant redevelopment plans to provide more restaurant-style dining options, with casual dining options such as Guzman y Gomez, Shnitz, and San Churros.
Despite its proximity to Perth’s CBD, apartments represent just 3% of dwellings in Ascot and no new waterfront apartments have been constructed in the suburb for more than a decade.
Ascot has experienced consistent long term levels of capital growth, experiencing an annual growth of 11.9% for houses over the past 5 years. The growth in unit and apartment prices has also been significant, with an average annual growth of 8.9% over the same period.
Ascot’s proximity to established employment centres, both airports and the Swan River will continue to support high rental demand for well-located and designed properties. This is reflected in rental yields for units and apartments in Ascot of approximately 5.0% as of June 2017 (compared to 4.3% across metropolitan Perth).
We have prepared rental estimates for a range of apartment types in essence, so no matter what your investment price point, ask one of our senior consultants to take you through the numbers, and help you decide whether an investment in Marina East is right for you!
While many people living within Marina East will be owner-occupiers, the development also presents an outstanding investment opportunity. This exceptional location, close to a range of amenities means that there is very strong capital growth potential. Price increases in property have historically come when there is a unique product with high demand in a great location.
One advantage of buying off-the-plan is that you can secure your ideal property now and not need to settle for around two years. All that is required is a 10% deposit. The deposit will be held in a secure trust account until settlement. Your personal property consultant will always be on standby to help you with anything you need.
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