Subiaco offers "a little bit of everything" as Olive St apartments approach completion

Perth developer DevWest is approaching completion of its latest new apartment development, Olive St in Subiaco.

Due for completion next month, Olive St offers a rare opportunity to buy a brand new apartment in a suburb that gives its residents "a little bit of everything."

Nicole Jones from Jones Realty says Olive St strikes a unique balance between boutique living and urban convenience.

"Buyers are drawn to the fact that they can experience the best of both worlds – the calm of a quieter street, yet with direct access to the vibrant heart of Subiaco," Jones says.

Olive St consists of just 71 apartments across six levels, and is one of the few new apartment developments in the area. Olive St is designed as a low-rise, boutique offering that appeals to those seeking a more personal, community-oriented living experience. 

The apartments range from two-bedroom to three-bedroom configurations, with all one-bedroom apartments already sold out. Prices start from $839,000, making Olive St a considerably more affordable alternative to Subiaco's soaring house market, which has jumped by over seven per cent in the last 12 months to just shy of $1.8 million.

Olive St's design puts practical living at the forefront. Each apartment features an open-plan living space that flows out to a spacious terrace or balcony. North-facing units, in particular, have been well-received for their natural light and views that extend across Subiaco.

The building's amenities take the same thoughtful approach. A co-working hub, gym, BBQ area, and residents’ lounge are all part of the package, ensuring there are spaces for relaxation, socialising, and working from home. 

The co-working hub caters to the growing number of professionals seeking a flexible work environment without leaving the comfort of their apartment.

“It’s a real shift towards what people need today,” Jones adds.

“We’re seeing a lot of interest from buyers looking for a home that offers flexibility, especially with more people working remotely.”

The demand for Olive St has been strong, with buyers from various demographics expressing interest. Jones explains that the development is drawing a mix of local professionals and downsizers seeking a low-maintenance, lock-and-leave lifestyle, to families and couples looking for more space. 

Investors have also been active, with many securing the one-bedroom apartments early in the sales process. The inclusion of commercial spaces and the planned co-working hubs within the development ensures that Olive St will remain a highly attractive place for a diverse range of residents, further solidifying its potential for strong rental yields.

There is still an opportunity to take advantage of stamp duty savings of up to $50,000 before construction is completed, with a limited number of apartments remaining.