Sovereign Place Apartments, East Perth
TRG Properties acquired two prime Hay Street sites in the East Perth Redevelopment Authority's (now the Metropolitan Redevelopment Authority) Riverside Project public tender. The project subsequently marketed as Sovereign Place faces directly north across the Queen's Gardens and comprises 42 apartments and townhouses designed by Hassell Architects. It is located in East Perth less than two kilometres from the heart of the Perth Central Business District and is so is well within easy walking distance of the City of Perth commercial and retail centre and the Swan River foreshore. The project completed and successfully settled in 2009 post GFC.
TRG Properties achieved all programme milestones and met the financial projections contained in its launch feasibility model despite completion occurring after the GFC -which had impacted severely on local market conditions. TRG Properties’ pre-sale and pricing strategies mitigated market risk and enabled the highly successful completion of this project despite the extreme change experienced in the market after the project was commenced.