FL 3 27/123 Colin Street, West Perth WA 6005
FL 3 27/123 Colin Street, West Perth WA 6005
Large 4-bed penthouse | 193m² plus 135m² rooftop terrace | Rare West Perth footprint | Niche executive buyer pool | 1982 build with urban convenience
This is a genuinely uncommon unit for West Perth. At 193 square metres internally with a 135 square metre private rooftop terrace, it sits well above the typical one and two bedroom apartments that dominate Colin Street. The configuration suits a buyer wanting house-sized proportions without leaving the city fringe, and the 1982 build means it predates much of the newer infill stock while avoiding the heritage constraints found elsewhere on the street. Proximity to Kings Park, City West Station, and the CBD gives it a strong convenience story. The likely buyer is an executive or downsizer trading suburban space for urban access, or an investor targeting a niche rental pool that larger apartments attract.
The value picture is shaped by a few factors. The rooftop terrace is the standout feature and likely commands a premium, but its appeal depends on how well it has been finished and maintained. The 1982 construction may mean older services or common areas, which could affect strata levies or renovation appetite. The property’s size works in its favour for scarcity, but it also narrows the buyer pool compared to smaller, more liquid units. The lack of verified detail on finishes, aspect, and building amenities means the final price will hinge on inspection and how the terrace and internal condition actually present.
|| Comparable Sales: 19/2 Colin Street sold $581k (2-bed) | 1/11 Colin Street purchased $695k (1-bed) | Property Price Band: $1.1M–$1.2M | Value Drivers: rooftop terrace size, internal floor area, condition and presentation of finishes
Detailed Independent Property Report prepared by PropCred Analyst team for FL 3 27/123 Colin Street, West Perth WA 6005
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
2
URL has been copied successfully!
Market Insight
West Perth WA 6005 is a tightly held inner-city market directly adjacent to the Perth CBD, with houses trading at a median of $1,042,500 after 44.89% annual growth and a median days on market of just 10 days. Supply constraints are acute: annual sales volume is a thin 44 houses, and Greater Perth listing stock sits 42% below its five-year average. Demand is driven by sustained population growth, interstate migration and overseas arrivals, plus first-home buyers shifting to units as affordability tightens. Support comes from strong transport links and proximity to the CBD, which underpins competition for limited well-located stock. The key constraint is affordability and interest-rate sensitivity; chronic undersupply will keep upward pressure on prices, but stretched buyer capacity and higher rates pose the main downside risk.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 19/2 Colin Street sold $581k (2-bed) | 1/11 Colin Street purchased $695k (1-bed) | Property Price Band: $1.1M–$1.2M | Value Drivers: rooftop terrace size, internal floor area, condition and presentation of finishes
Bedrooms
4
Bathroom
2
Parking
2
Land
193m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!