This article is from the Australian Property Journal archive
DEVELOPER Diploma Group has unveiled plans for a $50 million apartment project in East Perth.
Following the successful $15 million capital raising in March 2010, Diploma has bought a site at 176 Adelaide Terrace in East Perth.
The new $50 million project, 176 Adelaide Terrace will comprise approximately 80 apartments over 24 levels including a mix of one, two and three bedroom apartment configurations.
This will be the fourth high-rise apartment building Diploma has constructed on Adelaide Terrace and Diploma’s seventh residential project to be announced in the Perth CBD.
CEO Nick Di Latte said he was pleased to add another inner-city residential project to Diploma’s growing portfolio, which will contribute to FY13.
“Diploma is experienced at delivering high quality, affordable inner-city apartment developments as shown with the recent completion of Peak, Sky and Rise Apartments, and Zenith which will be completed in the months ahead.
“Diploma’s market presence in the apartment market at the eastern end of the Perth CBD and the fact we are announcing more projects is testament to the continued market demand for our product,” he added.
176 Adelaide Terrace will be released off-the-plan to the market in mid 2010 with construction set to commence in January of 2011.
Australian Property Journal
