Scarborough Beach Development
With the hashtag #Scabsontheup creating quite the buzz on social media, it’s clear that something exciting is occurring at Scarborough Beach. And the news is that a new masterplan and $100 million redevelopment are set to turn the seaside suburb with its famed white sands into Perth’s finest suburb, creating a popular destination for visitors all year round.
The exciting new masterplan provides improved facilities, lots of outdoor activities, amenities, cafes and wining and dining experiences aplenty. After completion, Scarborough Beach will be an exciting and vibrant place to live, work and play. With its convenient location, just 14 kilometres from the CBD, and a beautiful beach lined with towering pines, Scarborough is set to become a magnet for investors.
Included in the redevelopment is a 50-metre public swimming pool, a lively Town Square with outdoor seating surrounded by shops, a multi-generational park with skate facilities and a viewing place to relax and contemplate as the sun goes down over the Indian Ocean. The aim is to create a contemporary, family-friendly, all-seasons destination as well as facilitating private investment and development of key sites across Scarborough’s foreshore. In addition to all the new permanent attractions, exciting live gatherings, events and attractions are planned to give Scarborough an exciting vibe all year round.
The entire masterplan was based on what people and businesses actually wanted to see in the suburb. Workshops were held in 2014 with 100 local community businesses and government groups. The redevelopment was also shaped by an online survey which received almost 3000 submissions. Construction is already underway and is expected to continue throughout 2017.
New residential developments are also at the planning stage and are expected to be in high demand with investors once released. As of last quarter, the median house price in Scarborough Beach was $621,000 and currently sits at $750,000 so prices are already rising due to high market demand.
With Scarborough’s future looking bright, it is a hotspot for all keen investors! If you’re looking to invest in an area on the rise, now is the time to talk with the team at HERE Property and take advantage of Perth’s low house prices before they surge.
Post-purchase, our experienced property managers here in Leederville can take care of all your asset management needs, from high-end marketing, quality tenant selection and the ongoing profitability of your investment. Get in touch!