M/Land to help buyers ride the wave of an established communityRead more
Boutique land developer M/Land has secured a niche development parcel at Secret Harbour, with plans recently approved for 67 residential lots within the established and highly sought after coastal community.
The land acquisition is via an investment syndicate that quickly oversubscribed due to investors seeking to capitalise on the area’s advanced stage of development, favourable market conditions and attractive forecast returns.
Director of M/Land, Mr John Wroth, said the development is the company’s first foray into this unique and proven style of land development since its establishment earlier this year. He believes the same factors that attracted strong investment interest will create a very alluring investment proposition for land buyers.
“Traditionally, there is often an element of risk associated with new subdivisions, and land owners can wait years for the introduction of infrastructure to support their lifestyle, such as schools and shopping centres. Depending on the level of infrastructure at various stages of the property cycle, these areas can also be vulnerable to volatile market conditions,” he said.
“However, we work a little differently to big developers by identifying smaller and strategically located parcels of land in well serviced areas that don’t carry the risk of early entry into large master-planned communities. The strategy is not only attractive to our syndicate investors, but ultimately helps new buyers ride the wave of an established community and enjoy the benefits of a development nearing maturity.”
Secret Harbour is just minutes from pristine beaches, a championship golf course, three excellent schools and surf club. It has a $53 million shopping centre expansion underway to the existing Woolworths store, with Coles and Aldi being added to the centre, creating more than 250 jobs on completion.
M/Land is part of the M/Group of companies, well known for instigating and introducing cutting edge and design-focussed apartments to the Perth marketplace amidst a backdrop of cookie-cutter developments. M/Land is backed by innovative design expertise, creative thinking, in-house building resources and a company culture that places the purchaser at the forefront of development plans.
“It’s not our way to simply acquire land to carve up and flood into the market. We look to explore all opportunities to provide innovative packages specific to our identified target markets,” he said.
“In the case of Secret Harbour, we have worked closely with WA’s leading project homebuilders, such as Summit Group, to offer an affordable lifestyle in a premium location. We redesigned the previous subdivision layout to introduce a mix of attractive, functional and affordable lots that are perfectly suited to WA’s building designs for our coastal conditions and relaxed lifestyle.
“We are fortunate to have the capacity to provide flexible and innovative outcomes to often complex and challenging infill development sites – and the buyer ultimately benefits.”
The Secret Harbour development is located at Lot 44 Surf Drive, just five minutes from a major train station and bus port, and 40mins to the Perth CBD. It is situated between the two major centres of Rockingham and Mandurah and within walking distance to the beach.
“Finding a ‘sure thing’ in land developments can be hit and miss, but we are confident our formula will attract first homebuyers, downsizers, families and investors to acquire a secure land investment with immediate lifestyle benefits in an cautious market,” Mr Wroth continued.
“Our Secret Harbour project provides a unique opportunity to get a foothold in a much sought after coastal community within a buyers market.”
Land prices for lots sized between 327sq.m to 557sq.m start from $185,000. The land is scheduled for market release in October 2016 with Titles for Stage One earmarked for early 2017.
Mindarie enters it’s primeRead more
Since Mindarie was established some 30 years ago, there has been an emergence of extremely large family homes and a tight-knit community that relishes the lifestyle location along Perth’s coastline. What is lacking, however, is the availability of suitably high-standard apartment dwellings for empty nesters now looking to cash in on their investment and stay in the area.
A 4,000sq.m development site, backing onto the Mindarie Marina, aims to fill this deficit with just 50 exclusive oceanfront apartments a few steps away from the marina amenities.
Mr Lloyd Clark, Managing Director of M/Group, parent company of boutique apartment developer Match, said it is very clear who the apartment owners are likely to be and the design is being driven specifically towards lifestyle-loving owner-occupiers.
“There are many developers in the market who are building investment-grade product or hedging their bets on trying to be all things to all people. This project is very different,” he said.
“Mindarie is an established and affluent area, and the need for a mansion-like home may simply no longer be a priority to some residents. Every detail of these apartments will be crafted to cater to the most discerning buyer, so owners will not need to compromise on their environment.”
Although still in the design phase, the apartment brief includes spacious rooms, generous storage, large sheltered and private balcony decks, high ceilings, high-end luxury finishes, top security, and an abundance of amenity and residential facilities.
“The site is surrounded by large family homes worth in excess of $1.5million. Some of the adjoining beachfront homes are valued at over $5million, and many of the early buyers are on the latter stages of the family lifecycle and may be looking to downsize without leaving the area,” Mr Clark continued.
“There is nothing that offers the same lifestyle appeal as this location and our proposed apartment product. Our apartments will provide a great opportunity for downsizers to remain in the area in a luxury environment.”
Early development plans for the Mindarie Apartments include a mix of two and three bedroom dwellings with prices ranging from $650,000. They are scheduled for market release later this year with completion in 2018
Expressions of interest can be made by contacting Chris Balmont on 0432 660 066 or email firstname.lastname@example.org.