30/537 William Street, Mount Lawley WA 6050

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Hyde Park is the kind of neighbour that earns its keep every day of the week. Two lakes, an 800 metre sealed path looping around them, mature London plane trees and Moreton Bay figs overhead, and jacarandas that have been putting on their show in the south-eastern corner since 1921. There are barbecues, a playground, fitness equipment and a pavilion, and once a year the Hyde Park Fair takes the whole thing over. Chu Bakery is a stroll away for coffee and a pastry, Northbridge and the Perth CBD sit two kilometres to the south, and the Beaufort Street strip is close at hand for dinner, a drink, or a film at the Astor.

The park does not stop at the boundary either. The outlook from this apartment runs straight into Hyde Park's tree canopy, a wall of calm green that changes with the seasons and settles the whole place down.

Inside, this is not the floor plan the rest of the building works to. The kitchen has been brought forward, and the space that freed up behind it has become a separate bedroom rather than the open arrangement found in the neighbouring apartments. The result is a 1-bedroom apartment with a proper door between living and sleeping, which is uncommon at this level of the market and makes all the difference to how the place actually lives.

The renovation is finished and it has been done with restraint. A resurfaced brick wall gives the living area texture and something to look at, and it sits alongside a new kitchen, a new bathroom, fresh paint and new LED lighting throughout. Every window and door has been replaced with modern fittings, and split system air conditioning keeps the temperature where you want it through both extremes of the year. A large wall mirror in the living area and a slimline mirror in the bedroom draw light and depth through both rooms, so the apartment reads considerably larger than its footprint suggests. The bed is built in and cantilevered, with storage concealed under the bed head, which keeps the floor clear and the wardrobe honest. There is space inside the apartment for your own washing machine, so the common laundry is somebody else's problem.

The building is secure and a secure car bay comes with the apartment. The scheme has also funded a substantial program of works, a new roof, new balustrading, and a complete electrical substation upgrade, through special levies. Those levies have been fully raised, with the final instalment falling due in November, and the seller will pay that instalment along with every other special levy raised for the work. The next owner inherits the benefit of the works without the cost of them.

The scheme also carries a special by-law which states that "A proprietor of any lot is permitted to use the lot as a holiday apartment". That may open up short term letting alongside the usual long term options, and any buyer is encouraged to make their own enquiries as to how it would apply to them.

The apartment is vacant and ready to be moved into, with nothing left to do and nobody to wait for, which suits an owner occupier who wants the park across the way and the city within cycling distance. It suits an investor equally well, in a building whose major works are funded and paid for.