Compass by Mirvac | Frequently Asked Questions
Design & Construction
What is the design vision for Compass?
Compass has been designed by award winning Mirvac Design who have over 40 years’ experience in designing residential apartments, including The Peninsula at Burswood, Beachside Leighton, Yarras Edge in Melbourne plus Rhodes in Sydney, with assistance from local architecture firm Cameron Chisolm Nicol. CCN have been involved in a number of successful local apartment projects, including Heirloom in Fremantle, Empire Perry Lakes as well as Claremont, By Mirvac at Claremont on the Park. The design vision for Compass is to provide a strong urban framework for the continuation of the Leighton Beach development, whilst delivering a built form outcome that supports and enhances the creation of high quality people oriented spaces.
What sort of security does Compass offer its residents?
Compass features a number of security provisions.
• CCTV surveillance systems to the ground floor lobbies of each building;
• Audio/visual intercom systems and
• Roller shutter doors to the basement entry
What sort of upgrades does Mirvac offer for my apartment and when is payment due?
There are a range of customisation options on offer at Compass. These include upgrades to finishes and appliances in the kitchen, as well as a master bedroom wardrobe fitout inclusion, feature pendant lighting options and the choice to include an electric car charger in your car bay. Payment for upgrades is due at settlement.
Are there any common amenities within the building?
Compass residents have access to an extensive communal landscaped podium area which is shared with the Meridian building in the first stage. This landscaped area includes a bocce green, plenty of seating and an outdoor shower.
How long will construction take?
From the commencement of construction, it is estimated to take 18 months.
What are the strata fees I can expect?
Strata levies cover items such as building insurance, strata management fees, common area cleaning and maintenance and common area utilities such as electricity and water usage.
Initial annual strata levies for apartments in Compass range between:
One Bed: $2,344 - $3,113 p.a.
Two Bed: $3,149 - $4,687 p.a.
Three Bed: $5,347 - $5,896 p.a.
Am I allowed to keep a pet in my apartment?
Yes, residents of compass may keep without approval; a fish, a caged bird, 1 small dog under 10kg (at maturity) or a cat.
How many more apartments will be built in the surrounding area?
Mirvac has no knowledge of any development timeframes of the adjoining lots; which are currently owned by Resort Home Development (Lot 5) and Rockingham Park Pty Ltd (Lot 6). There is currently an approved DA in place for Lot 6 for 104 1 & 2bedroom apartments, and a copy of this can be obtained via the City of Fremantle. Mirvac encourages all prospective purchasers to make their own enquiries regarding the surrounding development, including the rezoning of the former Caltex refinery site to the south of the Leighton Beach precinct.
For more information visit: https://www.fremantle.wa.gov.au/development/planning
Buying off the Plan Process
What are the steps to purchase an apartment off-the-plan?
Step One: Signing your contract
Once you have chosen your apartment with a Sales Consultant, a sales contract will be prepared and signed by you and Mirvac. The contract will then be forwarded to your Settlement Agent and Mirvac’s Settlement Agent. Once the contract has been executed, you will then be required to pay your 10% deposit within 21 days to secure your apartment.
Step Two: Colour selections and buyer upgrade options
You will be able to select from a range of colour schemes and upgrade options. This will happen at the time of signing the contract.
Step Three: Construction of your property & settlement
During the construction period, you will be updated on key dates and any other relevant information with regard to the progress of your apartment. Prior to the completion of your new apartment, Mirvac will send you information to assist in the lead up to settlement to make the process as seamless as possible.
Step Four: After settlement
After settlement, Mirvac’s Settlement Team will assist you with any questions you may have. Your purchase has the benefit of a three month defect warranty period to give you peace of mind.
What is the benefit of buying off the plan as opposed to when the building is completed or nearly complete?
In addition to having a greater choice of apartments, buying off the plan gives buyers the opportunity to secure an apartment at today’s market value with a 10% deposit and pay the balance of the purchase price at settlement at a later date.
As with any investment, relevant external factors need to be taken into consideration. You should conduct your own due diligence and seek advice from your licensed financial planner, accountant or lawyer.
Are prices negotiable?
Mirvac operate under a fixed pricing scheme and this applies for all apartments in Compass.
Can I make an offer subject to finance?
Off-the-plan sales contracts are unconditional and subject to finance offers are therefore not accepted.
How much is the deposit and when is it due?
A 10% deposit is required to secure your apartment and payment is due within 21 days of signing a contract. The balance
of the purchase price is due at settlement.
Can I use a Bank Guarantee or Deposit Bond to pay for my deposit?
Yes, Mirvac will accept a bank guarantee or deposit bond on certain terms; these include the provider being on the list of Mirvac acceptable providers. Conditions apply; ask a Mirvac Sales Consultant for more information.
Version 1 printed September 2017. This brochure does not constitute an offer or advice and should not be used as a substitute for obtaining professional advice. Prospective purchasers should rely on the contract of sale and their own independent enquiries and legal advice.