Psaros / News

Psaros Breaks Ground on New Perth Apartments

Perth property developer Psaros is about to mark an important milestone when it breaks ground on the largest development to be constructed in its history; a significant symbol of the growth the company has experienced in recent years.

Psaros – which last year sold over $177 million worth of apartments off the plan – will be celebrating its latest achievement when it commences site works in April on a 96-apartment complex called “Edge” on Newcastle Street in Perth.

CEO Danny Psaros said the size of Edge was a significant milestone for Psaros – which had traditionally built projects with an average of 50 apartments in each development.

“The company is growing rapidly – in terms of both the size of our developments and the number of projects we are building,” he said.

“Having usually averaged two or three development launches a year, we have expanded to a point where we currently have ten projects in various stages of the development cycle.”

Since 2005 Psaros has successfully completed over 30 apartment developments and has grown from a staff of just eight in 2010 to 49 employees today.

Edge will include one and two-bedroom apartments all with large balconies and open living spaces as well as bamboo timber floors and higher than average 2.7 metre ceilings.

The apartments will also feature Psaros’ signature sustainability and intelligent home initiatives including solar passive design, solar hot water and power, and lighting, music and television controlled by a free iPad.

The apartments feature sweeping city and northern views and are within walking distance to the CBD, Northbridge and the river.

Edge residents can enjoy the 10 metre heated pool, communal lounge and gardens, and a gymnasium.

Construction is due to be completed by June 2015.