37/11 Bennett Street, East Perth WA 6004
37/11 Bennett Street, East Perth WA 6004
Top-floor 2×2 with river views | 97sqm internal, larger than typical East Perth stock | Boutique 42-unit building with resort-style amenities | High strata levies offset by strong rental demand | Suits downsizers and CBD professionals
What stands out here is the combination of size, position, and outlook. At 97 square metres internal, this unit is meaningfully larger than the 58 to 87 square metre two-bedroom apartments that dominate the Bennett Street pocket, and the 16 square metre balcony adds genuine outdoor living space. Being top-floor with river views puts it in a premium tier within the building, and the finishes — stone vanities, full-height tiling, mirrored robes, and a spa bath in the ensuite — suggest it was fitted out with owner-occupiers in mind rather than pure investor stock. The building itself is boutique at 42 apartments, which tends to appeal more to downsizers and professionals than the large towers nearby. That buyer profile is supported by the ownership data, which shows short holding periods typical of people using this as a city base rather than a long-term family home.
The main factor to weigh is the strata cost. At roughly $2,247 per quarter, the levies are high for the suburb, and that reflects the extensive shared facilities — lap pool, gym, sauna, residents lounge, and BBQ areas. These amenities support the rental appeal and the lifestyle positioning, but they will eat into net yield for an investor and add to holding costs for an owner-occupier. The rental signal is strong, with comparable two-bedroom units in the complex leasing around $790 to $825 per week, and the nearby 7/11 Bennett Street showing an estimated yield above 6 percent. That suggests demand is solid, but the gap between gross and net return is wider here than in simpler buildings. The east-facing aspect of some comparables also hints that orientation varies within the complex, and the exact compass direction of this unit is not clearly stated, which could matter for light and temperature preferences.
|| Comparable Sales: 7/11 Bennett Street sold $555k, 15/11 Bennett Street sold $587.5k | Property Price Band: $600k–$700k | Value Drivers: top-floor position, river views, larger internal area, condition and finishes
Detailed Independent Property Report prepared by PropCred Analyst team for 37/11 Bennett Street, East Perth WA 6004
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
2
Execution Risk
1
URL has been copied successfully!
Market Insight
East Perth’s proximity to the CBD and transport infrastructure underpins its desirability. Demand is driven by investors and first-home buyers competing for limited stock, particularly at the market’s lower end, supported by strong population growth. This competition, amid a severe shortage of listings, has accelerated price growth and compressed selling times. Future momentum relies on the persistent supply-demand imbalance, though the primary constraint remains the acute shortage of quality housing stock.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 7/11 Bennett Street sold $555k, 15/11 Bennett Street sold $587.5k | Property Price Band: $600k–$700k | Value Drivers: top-floor position, river views, larger internal area, condition and finishes
Bedrooms
2
Bathroom
2
Parking
1
Land
97m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!