SKS Group snaps up riverfront Perth apartment building with refurbishment plans

SKS Group is planning a luxury residential project in Perth after acquiring a Crawley apartment building for $14.5 million.

The 6 Wingfield Avenue block was sold in an off-market transaction managed by CBRE Capital Markets Director Derek Barlow on behalf of SKS Group.

The building comprises ten full-floor apartments, all offering panoramic views of the Swan River.

SKS will shortly commence construction and renovation works to convert the building into ten luxury apartments, which will be brought to the market in Q2, 2026.

Mr Barlow said select, qualified buyers with the skill set to execute a refurbishment of scale had been approached in a highly targeted sale campaign.

“With construction prices remaining a key challenge to the delivery of residential apartments, we are dedicating time to identifying refurbishment opportunities of scale for CBRE clients, which reduces exposure to elements of the build process and fast track delivery time frames,” Mr Barlow said.

Bravestar Group represented Squarcini on the Crawley transaction.

Bravestar Managing Director John Mereith said, “We congratulate SKS Group on their purchase and look forward to seeing the redevelopment of this asset in their capable hands.”

Mr Barlow noted that demand for premium apartments in Crawley remained strong, driven by the suburb’s lifestyle appeal and proximity to the CBD, the Swan River, and the University of Western Australia.

“With very few high-end apartments coming to market in Crawley, competition remains intense,” Mr Barlow said.

“This transaction reinforces the depth of demand and the confidence buyers have in premium apartment investments in this part of Perth.”