Lot 5 at Koombana North purchased by local consortium

Community and industry leaders have thrown their support behind one of Bunbury's biggest development projects.

According to Century 21 Advance Realty, Lot 5 at Koombana North has been purchased by a local, private consortium.

The lot will deliver 25 apartments, priced between $400,000 and $650,000.

Century 21 principal Paul Duffy said the lot has already received some attention from residents and businesses.

"Hopefully, we should be seeing many of those apartments being pre sold," he said.

The six-storey Aspire Apartments project is steadily taking shape, with Perkins Builders in charge of construction.

So far, local buyers have purchased nine of the 14 apartments on offer. The two penthouses are still available, at $7 million plus each.

AustPro Management Services Group purchased Lot 1 back in 2016 to create a mixed-use complex with apartments, a cafe, retail spaces, and office spaces.

"The construction phase is due for completion in December," Mr Duffy said.

"We are hoping to hand over some of the keys in February 2020."

With lots 3 and 4 still up for grabs, Mr Duffy is encouraging investors to jump on-board.

"Koombana North will bring more people to the area, which will then help the local businesses," he said.

Bunbury Mayor Gary Brennan said Koombana North would help to usher in a new era for the city.

"It is an exciting time for Bunbury," he said.

"We're now seeing developers from elsewhere invest in our town. It's a sign of confidence in Bunbury's future.

"The State Government and City of Bunbury are making an effort to bring more investment into Bunbury."

Bunbury Geographe Chamber of Commerce and Industry chief executive Mark Seaward said: "The Koombana North development has, for a number of years, increased the footprint of the CBD, so additional development in that area is welcome as it will add to the vibrancy and aesthetic of that area."