Lifestyle hotspots around Perth are bound to affect the value of surrounding residential developments. Carousel in Cannington is currently undergoing an extensive upgrade that aims to attract over sixty new retail tenants, including upmarket department store giant David Jones. The same is happening in the northern suburbs of Whitfords and Ocean Reef, two lifestyle hubs that are growing and adapting to stay in the game.
Just two weeks ago, the Whitfords Shopping Centre revealed its new and improved retail extension, which includes an open plaza that feeds into several familiar eateries such as Grill'd, and a host of new and exciting restaurants, including a couple of bars and a brewery with ocean views. If you’re done with dinner early, you could always unwind with popcorn and a movie at the new eight-screen Events Cinema that comes complete with Gold Class.
All these new attractions will no doubt invigorate the night life in the surrounding area, providing residents from suburbs such as Madeley and Landsdale with the perfect opportunity to sit back and relax. But the presence of such magnetic hotspots will also affect the property value of these surrounding neighbourhoods, boosting prices and sales and raising the overall interest in the area.
Similarly, nearby in Ocean Reef, plans are underway to establish a portion of the seaside vista into a first-class $120 million marina, not unlike the one that has made Hillarys such a popular attraction among residents and tourists alike.
In addition to 550 boat stackers and boat pens, the marina is set to contain a vast apartment complex and a sizeable retail development. The introduction of a harbour and a place for boat-owners to berth their vessels will certainly make owning property in the surrounding area a very enticing prospect.
Construction is scheduled to begin in 2020.