Finbar woos first-time buyers in Mayland

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Finbar woos first-time buyers in Mayland
Helen Shield | The West Australian
Wednesday, 17 October 2018 8:14AM
Buoyed by the success of its first-homebuyer pitch at its Palmyra Estates Apartments, Finbar has dusted off the second stage of its revised Maylands apartment development on the former Ross’s Auction site.

One Kennedy, part two of Finbar’s Unison development, includes a courtyard with lap pool, gym, residents’ lounge, outdoor barbecue and shared community and resident space and a ground floor restaurant.
Part one of the development, the 167-apartment Unison on Tenth finished in March 2016, has now sold.
The second stage, delayed by a drop in demand that hurt apartment projects across the metropolitan area, is being pitched at first-homebuyers, with most of the one, two and three-bedroom apartments on offer priced below the $430,000 stamp duty threshold for first-time buyers.
Construction of stage two is to start next year.
One Kennedy has 120 apartments, three storey walk-up apartments, three commercial units and basement parking.
Finbar managing director Darren Pateman said activity in the first-homebuyer sector was leading the recovery in Perth’s apartment market.
“I think Maylands, like our Palmyra Apartments development, will benefit from its strategic positioning within that market,” Mr Pateman said. “We’ve listened to what the market wants and delivered an affordable product without compromising on quality.”
Mr Pateman said Maylands was on the radar for buyers wanting an inner-city lifestyle at an affordable price. That included down-sizers, young professionals and families.
“The competitive price point puts it within reach of those who may have … thought the area was out of their budget,” he said. “(It) is an attractive prospect for owner-occupiers and investors.”
One Kennedy, on the corner of Railway Parade and Kennedy Street, is 300m from Maylands station, walking distance to Eighth Avenue’s cafe and retail strip and 5km from the city.
Mr Pateman said the market appeared to have turned.