About The Esplanade, Perth CBD
Perth's CBD waterfront along The Esplanade is undergoing the most dramatic transformation in the city's history — a AUD 5 billion public and private investment programme converting the former Swan River road corridor into a pedestrian and cycling riverside park with cultural facilities, hotels, and residential towers. Western Australia's sustained mining and energy boom has created a growing cohort of ultra-HNWI who are upgrading from suburban McMansions to inner-city penthouses — a market that barely existed 15 years ago. Perth's isolation (5 hours from Sydney, closest major overseas city is Singapore) creates a self-contained luxury ecosystem with minimal supply of true CBD waterfront product.
About Blackburne Property
Blackburne is Western Australia's most prominent luxury apartment developer, responsible for establishing the premium end of the Perth apartment market with projects including Essence Claremont and Aire South Perth. Their design philosophy — local architecture that responds to Perth's light and landscape — has positioned their projects above the generic interstate developer product that dominates Perth's mid-market.
Project Overview
One The Esplanade is a 48-floor tower of 160 residences on the corner of The Esplanade and William Street, delivering Perth's most elevated Swan River views from every unit. The tower's architecture (by Hillam Architects) addresses the river with a curved glass curtain wall that tracks the river bend, creating spectacular panoramas to the east, south, and west simultaneously. Each unit has a full-depth terrace facing the river — an explicit decision to prioritise outdoor living given Perth's 300+ annual sunshine days.
- Swan River and Narrows Bridge views from every unit above floor 8
- Full-depth outdoor terrace on every residence — designed for Perth's indoor-outdoor lifestyle
- Residents' pool and sundeck at Level 6 (podium) and sky terrace at Level 45
- Perth's New Metro line connects Elizabeth Quay (400m) to Yanchep and Armadale
- Elizabeth Quay waterfront precinct at doorstep: restaurants, marina, ferry terminal
- Perth Airport direct flights to Singapore (5hrs), Dubai (10hrs), and London (17hrs)
Unit Types & Configuration
- 1 Bedroom — 65–80 sq m
- 2 Bedroom — 100–135 sq m
- 3 Bedroom — 165–210 sq m
- Penthouse (4 bed) — 450–580 sq m with wrap-around terrace
Pricing
One-bedroom from AUD 850,000. Two-bedroom from AUD 1.4 million. Three-bedroom from AUD 2.3 million. Penthouse pricing by application, likely AUD 8–15 million for the full-floor positions. At AUD 11,000–16,000/sq m, One The Esplanade establishes a new benchmark for Perth apartments — 15–20% above prior Perth peaks, yet still 30% below equivalent Sydney CBD product.
Investment Verdict
Positives:
- Perth's CBD waterfront is undergoing a once-in-a-generation transformation — the timing of entry matters enormously, and this is near the start
- WA's iron ore and LNG economy provides a resilient, high-income domestic buyer base insulated from east-coast property cycles
- Perth's geographic isolation creates a self-contained luxury market with minimal external competition for prestige CBD product
Watch Points:
- Perth's luxury apartment market is maturing but still developing; the depth of buyers at price points above AUD 3M is shallower than Sydney or Melbourne
- Interest rate sensitivity is greater in Perth's owner-occupier market than in Sydney's investor-dominated mid-market