Over 55 with $2.9M to spend? The top floor of Perth’s Grandton Applecross development could be yours

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Construction of former Bethanie and Baptistcare WA CFO John Frame’s Grandton Applecross luxury apartment building in Perth, Western Australia, is beginning this month – with prices well above its 2020 median unit price of $375,000.

Grandton Applecross will be 80 one-, two- and three-bedroom apartments, with one to three bathrooms, ranging from $610,000 to $2.9 million.

The September median unit price for Perth is $406,800. A 76msq one-bedroom apartment with ensuite bathroom at Grandton Applecross is $610,00,with a 167 msq three-bedroom, two bathroom with car parking is $1.4 million.

The Norup + Wilson-developed technology-advanced development is designed to Class 9C (aged care) standards with a 24-hour care service within the building which provides immediate response to any care requirements or emergencies that may arise.

Operating under the Western Australian Retirement Villages Act, to qualify for residency at the development at least one of the prospective residents must be retired or be over the age of 55.

“It is strata-titled retirement living with no lease, no exit fee and no capital gain share requirements,” said Grandton Applecross Director John Norup. “Residents are reassured by the assurances afforded under the Western Australian Retirement Villages Act.”

The development will include a public restaurant, piazza and hotel-style lounge on the ground floor complete with heated indoor swimming pool, cinema, yoga and gym facilities. The rooftop, with its lounges, barbecue and garden, will offer views over the Swan and Canning rivers, Perth CBD and the leafy Applecross suburb. There also is complimentary membership at the nearby Mt Pleasant Bowling Club.