SKS buys apartment block to refurbish, sell down
SKS Group has picked up the 18 year old Kings View apartment complex to refurbish and sell down.
The 10 level building on 1463 square metres at 6 Wingfield Avenue, Crawley, cost $14 million.
There are 10 full floor units – each with three ensuited bedrooms.
The dwellings capture 180 degree Swan River views.
There are also 32 basement car parks, a spa, sauna and heated pool.
Crawley is about five kilometres south west of Perth’s CBD (continues below).
Sell down planned
SKS, founded in Malaysia in 1983 and now based in Burswood, plans to refurbish the already modern units; a sell-down is expected next quarter.
“With construction prices remaining a key challenge to the delivery of residential apartments, are are dedicating time to identifying refurbishment opportunities of scale for…clients, which reduces exposure to elements of the build process and fast track delivery time frames, CBRE’s Derek Barlow who represented the vendor, Squarancini Group, said.
The asset failed to sell in its entirety via a different agency in 2021.
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