- The developer plans luxury downsizer-friendly apartments on Scarborough waterfront.
- Myka Residences offers 3-4 bedroom units, appealing to families from coastal suburbs.
- Project adheres to City of Stirling's height policy, emphasizing luxury and space.
Western Australian property development titan, Gary Dempsey Developments (GDD), has lodged a development application for a 12-level apartment project at 194 The Esplanade, after having acquired full ownership of the 1,500 square metre (sqm) site from its former venture partner Cape Bouvard Developments back in 2020.
The application will be among the first to be considered by the City of Stirling following the transfer of approval authority for developments of this size and nature from the DevelopmentWA back to the City on 9 August.
“While many of the other developments on the Scarborough waterfront are significantly higher in both density and height, we have decided with this project to conform to the City of Stirling’s height policy and not to push for additional levels or an increase in the number of dwellings which would have put us outside the City’s approval system,” said GDD’s managing director and founder, Gary Dempsey.
“This design, by DKO Architects, is therefore significantly lower in terms of both height and density compared to all of the other projects on the market and I think will set a benchmark for Scarborough in terms of the level of luxury and sophistication, the size of the apartments on offer, the premium location and the panoramic ocean view it offers from every apartment.”
Catering to downsizers from coastal suburbs
“Traditionally, Scarborough has been home to higher density apartment developments with one or two bedrooms while our project is specifically aimed at families looking to downsize from larger family homes, typically from the surrounding coastal suburbs,” Dempsey added.
“We believe that this project will fill a gap and tap into a buyer market that just hasn’t been able to find what they want in this area, and with an entry price in excess of $3 million, it’s going to appeal to quite a specific demographic.”
The project, called Myka Residences, will exclusively offer oversized three to four-bedroom options with two internal living spaces across its 21 apartments.
Sized between 250 to 500 sqm, the apartments were designed to accommodate downsizers hailing from nearby waterfront suburbs who are unwilling to compromise on living space or live in higher-density apartments.
“This development is definitely more aligned with the calibre and size of the apartments that you see on the South Perth waterfront and that are likely to attract buyers at the higher end who are not willing to downsize to those larger blocks of apartments that have tended to dominate in Scarborough,” said Dempsey.
He added that no bars or restaurants will be located on the ground floor, meaning none of the associated noise or issues will be present.
“It will be 100% owner occupier, only two apartments per level, 100% non-smoking and is a significant step away from what is currently available on the market today.”
“We’ve also made a conscious decision at this stage not to incorporate communal pools or gyms in this project, although there will be an upscale residents’ lounge that owners can utilise.
“In my experience, the sort of people who will buy into this level of development go to private gyms off-site or have the space to set up their own within their apartment. It’s also located within a few hundred metres of multiple gyms, yoga and Pilates studios and the Scarborough public pool,” he added.
Dempsey said this will significantly reduce state fees for the buyers.