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JennieFitzhardinge

PricelessTlie marketing campaign for Clare-mont's St Quentins development iswell under way, but is leaving one

important question unanswered. How muchare the apartments going to cost?

Clough Property's development managerNicholas Hunt says there is no easy answerto the question.

Mr Hunt says the cost of building the 62apartments and 20 commercial units onthe corner of Stirling Highway, Stirling Rdand St Quentins Ave is not finalised and thecompany wants to test the market beforesetting selling prices.

"We are taking expressions of interest andhave a significant database already," he says.

From yesterday, buyers could registertheir interest for apartments with a $5000deposit. "It is fully refundable, but whenwe do finalise prices in December, they willhave the first option to buy," Mr Hunt says.

PRD Nationwide and Burgess Rawsonhave the contract to sell the apartments, butwould not be drawn on prices.

A local agent was not so shy. MurrayPeter, from Mack Hall & Associates, saysthe apartments will sell for about $8000to $10,000 a sq m. That would put astarting price of $560,000 for a 70sq inone-bedroom apartment. The biggestapartments, with four bedrooms, will be210-230sq in, which would equate to morethan $2 million.

The difficulty in setting prices is that thereis nothing comparable in Claremont.

High-rise apartments haven't beenbuilt there since the '70s and the newestapartments to sell were in a boutiquedevelopment of four on Bindaring Pde.They averaged more than 200sq in ofliving space and sold from $2.2 million to

realty bites

appeal$2.6 million. "You had the Steve's salesrecently and the Multiplex/Hawaiianapartments are coming on, but it'suncharted territory," Mr Hunt says.

St Quentins is a big development on abusy corner, but Mr Hunt and Mr Petersay the high standard of the design andconstruction and the pent-up demand for

apartments in Claremont will work in itsfavour. "The ground and first floor aredesigned to get across the classic Claremontfacades you see on Bay View Tce, but as yougo higher, the design is more contemporaryand the higher levels are set back from thestreet," Mr Hunt says.

"It will also have very high acousticrequirements with the thickness of glass.The balconies on the highway side will haveshutters that can be closed off at busy times.They will be very much like the apartmentson Mounts Bay Rd in Crawley in that onceyou are inside, you won't hear anything."

The fourth and fifth floors on the highwayside will have river views.

"We think the ones with the river viewswill get a premium," Mr Peter says.

The apartments on the northern side willbe quieter and get good winter sun andprotection from the sea breeze.

"I believe the development will appealto baby boomers who are true downsizers,people who travel - either to propertiesdown south or overseas - and people whowant the security of a modern complex,"Mr Peter says.

Mr Hunt says it will also appeal to youngprofessionals who want to be in the thick ofthe action.

Ref: 24908767

Brief: CLOUGH(P)

Copyright Agency Limited (CAL) licensed copy

Sunday TimesSunday 5/11/2006Page: 3Section: Prestige PropertyRegion: Perth Circulation: 347,500Type: Capital City DailySize: 541.92 sq.cms.Published: ------S

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A stylish passive-solar design was a majordrawcard at 51 Austin St, Shenton Park, butthe buyer was also sold on the prospect ofbeing able to move straight in. "He was justabout to sign a building contract for a houseon the Hill of Tara in West Leederville,"selling agent George Crouch, of Coakley &Martin, says. "When he saw this house hesaid it was exactly what he had planned tobuild. But he's going to turn the swimmingpool into a koi pond." He bought the four-bedroom, three-bathroom, 050sq in propertyfor $2.238 million. It was on the market for$2.05 million and ran as a prestige propertyHouse of the Week on October 15.

Ref: 24908767

Brief: CLOUGH(P)

Copyright Agency Limited (CAL) licensed copy

Sunday TimesSunday 5/11/2006Page: 3Section: Prestige PropertyRegion: Perth Circulation: 347,500Type: Capital City DailySize: 541.92 sq.cms.Published: ------S

Page 2 of 2