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Iconic beachside block in Cottesloe sets the stage for a historic sale

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In a move that marks the culmination of fifty years, the owners of a beachside block of units in Western Australia’s sought-after suburb of Cottesloe have unanimously decided to put their property on the market. This decision opens up possibilities for the future redevelopment of the 3,915 square metre site, situated just steps from the picturesque beachfront.

Vincent Siciliano and Brian Neo from Sterling Property have highlighted the unique opportunity presented by the 13-unit complex, which is set for a significant transformation. “Ready for new life after 50 years,” Siciliano and Neo noted, indicating that this sale could lead to the development of new apartments, town homes, or even a singular family residence, though they haven’t ruled out refurbishment as a potential path forward.

With all 12 parties involved in the 13-unit block in agreement, the unanimity among the owners paves the way for a seamless sale process, a rarity in strata-titled properties. “It‚Äôs not often all parties in a strata title come together to sell,” the sales agents observed, attributing the decision to the right timing influenced by market dynamics and the property‚Äôs particular history of ownership.

The sight of in-development properties in the vicinity has evidently instilled confidence in both the sellers and potential buyers, considering the prospects of revitalizing the complex. The owners, most of whom have been holding onto their properties for decades, deem this the ideal juncture to conclude their investment life cycle. Siciliano underscored the rarity of such an occurrence, especially in a desirable location like Cottesloe, “Rarely does an entire complex go to market with all owners ready to sell.”

The allure of the site is further magnified by its elevated position, offering sweeping views over Cottesloe Beach and out towards Rottnest Island. Coupled with its secluded location, Siciliano described it as a “stunning site.” Brian Neo also emphasized the appeal of the surrounding area, marked by a street lined with Norfolk pine trees and proximity to the iconic beach, envisaging it as an “exciting addition to the changing face of this western suburb.”

The unified stance of the owners not only signals a promising opportunity for redevelopment but also represents a landmark moment for one of Western Australia’s most cherished beachfront locales.

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