OUTLOOK OCTOBER 2015 a ACCESSIBILITY Directly Serviced by Metropolitan Train CLAISEBROOK VILLAGE and Bus Networks, Easy Vehicle Access Via the Graham Farmer Freeway
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OUTLOOK OCTOBER 2015 A ACCESSIBILITY Directly serviced by metropolitan train CLAISEBROOK VILLAGE and bus networks, easy vehicle access via the Graham Farmer Freeway. A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND THE RESIDENTIAL MARKET DEMOGRAPHICS B Popular among singles, couples and empty nesters who have higher average discretionary incomes. INFRASTRUCTURE & Claisebrook Village, within the suburb of C EMPLOYMENT Around 9,400 new jobs are forecast to East Perth, is conveniently located close be created in Inner Perth between 2014 and 2019. SALES ANALYSIS to some of Perth’s key employment, retail D The median unit price in East Perth increased by 6.2% per annum over the and entertainment precincts. Its scenic, ten years to June 2015. E RENTAL MARKET riverside setting is another major drawcard Unit stock completed post 2012 commands sizeable rental premiums for residents and visitors. over the older, established variety. A VARIETY OF LOCAL RECREATIONAL FOOD AND BEVERAGE OPPORTUNITIES OPTIONS ABOUND THROUGHOUT EAST PERTH ALFRESCO WATERFRONT DINING PEDESTRIAN BRIDGE OVER CLAISEBROOK COVE HIGH QUALITY INFRASTRUCTURE 1 POP 2 INF 3 EMP AND MIXED-USE DEVELOPMENT Claisebrook Village accommodates all three of the Urbis economics and research fundamentals that make a sustainable precinct – Population, Infrastructure and Employment. ON THE DOORSTEP OF PERTH’S CENTRAL BUSINESS DISTRICT ACCESSIBILITY INDIAN OCEAN Claisebrook Village NEDLANDS 5 25 1 27 SUBIACO 15 4 3 2 KWINANA FREEWAY Key Legend 38 13 PERTH UNDERGROUND 39 14 MITCHELL FREEWAY 1 Perth CBD (1.64 million sqm office space) FUTURE ELIZABETH ESPLANADE 24 37 PERTH QUAY PRECINCT CITY LINK 35 2 West Perth (423,700 sqm office space) SWAN RIVER 36 PERTH 17 16 3 Parliamentary Precinct 21 18 19 Employment Mount Hospital 23 4 12 6 5 QEII Medical Precinct 20 MCIVER 6 Royal Perth Hospital NIB STADIUM 7 Australian Broadcasting Corporation 8 8 Government Department Offices 28 22 GRAHAM FARMER FREEWAY 26 9 WACA Ground 7 10 Gloucester Park 11 East Perth Cemeteries (heritage listed) EAST PERTH CLAISEBROOK 12 Perth Mint 13 Perth Convention and Exhibition Centre 14 Perth Arena 11 33 15 Domain Stadium (Subiaco Oval) Culture & Entertainment 16 Alexander Library 34 17 State Theatre Centre of Western Australia 18 Art Gallery of Western Australia 19 Western Australian Museum 20 Mercedes College 9 29 21 Curtin Graduate School of Business ROYAL STREET 22 Central Institute of Technology East Perth Education 23 Central Institute of Technology Northbridge 10 24 St George's Anglican Grammar School (50 William St) 25 University of Western Australia 26 Queens Gardens 27 Kings Park 28 Wellington Square 31 29 Claisebrook Cove 30 Arden Street Reserve 30 32 31 Victoria Gardens 32 Claisebrook Cove Boat Moorings Green Space & Recreation PERTH STADIUM (UNDER CONSTRUCTION) East Perth IGA 33 CROWN CASINO 34 Royal Street 35 William and James Streets, Northbridge SWAN RIVER PEDESTRIAN BRIDGE (PLANNED) 36 Murray Street Mall (Myer) Retail & Dining 37 Hay Street Mall (David Jones) 38 Brookfield Place 39 Watertown Brand Outlet Centre 2 URBIS CLAISEBROOK VILLAGE OUTLOOK - FOR THE EXCLUSIVE USE OF SUPERWILD PTY LTD AND BESANCON INVESTMENTS PTY LTD © URBIS.COM.AU INDIAN OCEAN NEDLANDS 5 25 1 27 SUBIACO 15 4 3 2 KWINANA FREEWAY 38 13 PERTH UNDERGROUND 39 14 MITCHELL FREEWAY FUTURE ELIZABETH ESPLANADE 24 37 PERTH QUAY PRECINCT CITY LINK 35 SWAN RIVER 36 PERTH 17 16 21 18 19 23 12 6 20 MCIVER NIB STADIUM 8 28 22 GRAHAM FARMER FREEWAY 26 7 EAST PERTH CLAISEBROOK 11 33 34 9 29 ROYAL STREET 10 31 Following the East Perth Redevelopment 30 32 Authority’s work at Claisebrook Village from the mid 1990s, the suburb of East Perth has undergone a major wave of PERTH STADIUM redevelopment activity. (UNDER CONSTRUCTION) Claisebrook Village is the precinct south of the Graham CROWN CASINO Farmer Freeway and north of Gloucester Park. It is directly serviced by the free-of-charge Yellow CAT SWAN RIVER PEDESTRIAN BRIDGE (PLANNED) (Central Area Transit) bus, linking passengers with the Central Business District and West Perth. Entertainment and cultural attractions including Crown Perth, the upcoming Perth Stadium, NIB Stadium and Northbridge are on Claisebrook Village’s doorstep. An excellent array of food and beverage offerings is located in the vicinity of Royal Street, many boasting picturesque water views. URBIS CLAISEBROOK VILLAGE OUTLOOK - FOR THE EXCLUSIVE USE OF SUPERWILD PTY LTD AND BESANCON INVESTMENTS PTY LTD 3 © URBIS.COM.AU Claisebrook Village’s accessibility, LIFESTYLE & quality dwellings and lifestyle amenity DEMOGRAPHICS make it a highly desirable place to live. THE CLAISEBROOK VILLAGE LIFESTYLE Food and Beverage Employment Swan River Culture and Heritage Accessibility Royal Street is home to Major office occupiers in Recreational activities East Perth’s past is celebrated Claisebrook Village is highly varied dining options, many East Perth include Fortescue abound on and along the with the preservation of accessible via the Graham of which boast scenic water Metals Group, state Swan River. High-quality heritage-listed buildings Farmer Freeway and outlooks. Slightly further government departments pedestrian and cycle paths and sites. These include the metropolitan train and bus afield are Adelaide Terrace, and the Australian are adjacent to the water, WACA Ground, Gloucester networks (including the free and the future Waterbank Broadcasting Corporation. facilitating opportunities for Park, Perth Mint, Perth Girls’ Central Area Transit buses). precinct and Ku De Ta The retail, hospitality and sailing, fishing and other School and East Moorings for private boats complex (Point Fraser). education sectors provide water pursuits. Perth Cemeteries. are also available. additional job opportunities. POPULATION & DEMOGRAPHICS AGE PROFILE: CLAISEBROOK VILLAGE VERSUS The suburb of East Perth, which includes Claisebrook Village, is characterised by a EAST PERTH AND GREATER PERTH high proportion of residents aged between 20 and 34 years (45% of the population). Lone persons constitute 39% of households in the suburb, while 61% of dwellings 25% CLAISEBROOK VILLAGE are rented. Residents conforming to these categories are able to place a greater EAST PERTH GREATER PERTH emphasis on lifestyle and enjoy a higher level of discretionary income. 20% Claisebrook Village’s age distribution largely correlates with that of East Perth. 15% However it is home to slightly higher proportions of persons aged between 50 and 69 years (approaching or enjoying the “empty nest” life phase). 10% East Perth’s income distribution indicates higher proportions of residents in top tier brackets, with the suburb’s average annual household income being 16.4% higher 5% than that for Greater Perth. This strong income profile can be credited to a high proportion of professional residents, with 52% of employed persons classified as PROPORTION POPULATION OF 0% professionals or managers. Inner urban areas, in particular, are residential markets of 0-4 5-9 85+ 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-55 55-59 60-64 65-69 70-74 75-79 80-84 choice for such demographic cohorts. AGE DISTRIBUTION Drawn to the suburb’s proximity to key employment and amenity nodes and stock of quality, medium- to high-density dwellings, East Perth is forecast to increase by Prepared by Urbis, Source: ABS (2011) around 15,100 new residents between 2016 and 2036. Compound population growth of 4.8% per annum is expected between 2016 and 2026. This rate EAST PERTH POPULATION PROJECTIONS significantly outperforms the equivalent for Greater Perth (2.0% per annum). 30 27.6 WHO LIVES IN THE SUBURB OF EAST PERTH? 25 24.3 East Perth Greater Perth 20 20.0 45% 22% 15.4 Residents aged 20-34 years 15 12.5 Average household size 1.8 persons 2.5 persons 10 9.0 (THOUSANDS) 6.3 Proportion of rented dwellings 61% 28% 5 4.0 PROJECTED POPULATION PROJECTED POPULATION White collar workforce 81% 68% 0 2001 2006 2011 2016F 2021F 2026F 2031F 2036F Walk or cycle to work 20% 4% PERIOD (ANNUAL) Prepared by Urbis, Source: SAFi.id Average annual household income $108,257 $93,009 Prepared by Urbis, Source: ABS (2011) 4 URBIS CLAISEBROOK VILLAGE OUTLOOK - FOR THE EXCLUSIVE USE OF SUPERWILD PTY LTD AND BESANCON INVESTMENTS PTY LTD © URBIS.COM.AU Upcoming infrastructure in the vicinity of Claisebrook Village will further INFRASTRUCTURE enhance amenity for residents. & EMPLOYMENT INFRASTRUCTURE INVESTMENT Elizabeth Quay Waterbank Perth City Link Burswood Peninsula Linking the Swan River and Perth’s Located between The Causeway One of Australia’s largest transit Crown Perth is being extended CBD, Elizabeth Quay will comprise and Trinity College in East Perth, oriented developments, City Link will to include a new dining precinct around 800 apartments, 400 Waterbank has a project value of $1 ultimately comprise around 1,900 and a six star Crown Towers hotel hotel rooms, 225,000 sqm of billion. Upon completion over the dwellings, 244,000 sqm of commercial (comprising 500 rooms). The commercial space and an attractive next five or so years, it will include space and an extensive public domain. adjacent Perth Stadium (60,000 river inlet. Completion is staged around 700 dwellings for 1,500 Completion is staged from 2013 seats) will be completed prior to the from 2015. The government residents and up to 17,000 sqm of (following the sinking of the Fremantle start of the 2018 AFL season. is investing $440 million in the commercial space. An exciting public train line). Government investment of A new pedestrian bridge precinct,