Construction on a 56 room (112 key) Quest Apartment hotel in Ascot has commenced following the successful completion of a $11.5 million development fund by M/Group and subsequent settlement of the 2,211sq.m development site. It is the second property undertaken by M/Group for the apartment hotel giant, with the first in Joondalup currently nearing completion.
The Quest Apartment Hotel in Ascot is located at 266 Great Eastern Highway, near Perth Airport and enroute to the Perth CBD. Its strategic location is in close proximity to Ascot racecourse, Optus Stadium, Crown Casino, Perth CBD and Perth airport, and is serviced by a road network that will see some 63,000 vehicles pass the site each day.
The property is being constructed by M/Group’s building division, M/Construction, which is currently engaged on a number of multi-residential and commercial projects across Perth, including Quest Joondalup.
M/Group Managing Director, Mr Lloyd Clark, said M/Group’s recent success and track record in fully subscribing property funds suggests a thirst in the market for secure investments.
“It’s difficult to dispute the investment potential and returns of a project that has a long- term lease agreement with a multi-national operation, as well as an independent valuation uplift created through the development delivery process,” he said.
“Quest Ascot is one of several property funds M/Group has successfully subscribed, largely due to a group of investors that now follow our projects based on our capacity to deliver.”
Quest is Australia’s largest apartment hotel operator by number of properties and is the second largest by the number of rooms. The Ascott Limited (wholly owned by Singapore’s CapitaLand) owns 80% of Quest . It has over 43,000 operating serviced residence units in key cities around the world with a further 31,000 units under development. Ascott is the largest serviced residence provider in Australiasia and is targeting to double its global portfolio to 160,000 units over five years.
The Quest Ascot development project was negotiated by M/Group in an off-market arrangement.
“We are delighted by our growing investment portfolio and the success it has had in recent months. Some of our investment offers have out-performed expectation, which both demonstrates a solid model and market interest for income-generating funds,” Mr Clark continued.
“We are currently working on a number of new opportunities to meet investor demand.”
M/Group is an integrated property organisation that has over $185 million of Investor funds under management with a projected asset value of approximately $1 billion. The company recently expanded its portfolio to the eastern states to add to its string of regional shopping centres with one centre recording an independent valuation uplift of $10.5million in under a year.
For more information or an investment prospectus contact firstname.lastname@example.org or (08) 6380 0400.
Sizing up the future of your land choiceRead more
In the search for a perfect place to build your first home, land size is of course an important factor. However, in isolation, the size of a homesite will not necessarily determine its value in the short or long-term future. Luckily for first home buyers, there are a range of options in the current marketplace that will deliver both land size and investment prospects.
While location and budget are major contributors when it comes to the land purchase decision-making process, few often appreciate the importance of finding an environment that will not merely fulfil the owner’s lifestyle goals, but also increase the value potential of the property for future sae or rental.
Ironically, your dream location might be the best investment you’ll ever make.
By ensuring the home environment appeals to your own personal desires, with features that help it ‘stand out’ in a competitive marketplace, you’re actually giving yourself more flexibility for when life changes might occur in the longer term.
Monument is a boutique land development company that currently has three land options available – each at various stages of development and all with something particularly unique on offer.
Hamelin Park, Secret Harbour
A home by the beach
What Monument does particularly well is introduce land estates in existing communities. When Hamelin Park was introduced in the established suburb of Secret Harbour, the estate was fast-tracked to meet demand for the land.
Today, Hamelin Park is some 80% sold out and literally surrounded by community infrastructure. As stage three comes on the market, savvy buyers will be able to pick up some ‘ready to build’ titled lots from just $179,000 for 331m2 to $200,000 for 531m2 only 3 minutes to the beach.
A home with a spectacular view
Located in the established suburb of Beeliar, Atop takes cues from the environment to create an elevated and interesting landscape for your home, adorned with natural materials, walking paths and majestic Tuart Trees.
Atop offers stunning ocean views and has recently completed its first stage of development, which is already 30% sold out in just 2 months. Monument is currently offering titled lots from 410sq.m to 494sq.m priced from $259,000.
The Wedge, Wellard North
Exclusive release of land
The Wedge is an exclusive pocket of land located in one of Perth’s most well-located and well-serviced areas. Although it is only in its early stages of development with the release of an initial 17lots, the homesites are larger than the market norm, and are located within private estate full of lifestyle features and adjacent to a nature reserve. Construction works are underway and Stage 1 titles will be available mid-2019.
Monument prides itself on its capacity to deliver a well-considered development design that introduce something unique and special into the marketplace. What that means to first home buyers is an enhanced future resale or rental prospect that also ticks any personal lifestyle goal you might have.
Working in close partnership with Western Australia’s leading first home buyer project builders also means you can get access to home packages tailored to your specific needs.
To register your interest for any of the above opportunities, visit www.landbymonument.com.au or call Damyn Strang 0434 070 654.
Quest Apartment Hotel – Joondalup – April 2019 Timelapse VideoRead more
In our latest video update for Quest Apartments in Joondalup, M/Construction has completed 5 levels, with a new level being constructed every fortnight. Also shown is balconies being constructed via scaffold towers.
Not noticeable in the video is level 1 and 2 internals being completed with painting, tiling and cabinets being installed.