It would have been hard to foresee the impact when, back in the early 2000s, two young property enthusiasts decided to tackle the inner-city marketplace and introduce distinctly-designed and architecturally considered apartments amidst a sea of bland ‘cookie-cutter’ buildings.
Back then, apartments were largely designed for investment purposes, so the product was often cheap and, in terms of streetscape, uninspiring.
However, a global lifestyle shift towards inner city living and a passion for good design was enough for the boys to mobilise their vision into reality. Before the cafes, galleries and boutique retail, Match was born in the streets of Mount Lawley, devoting its resources to bringing life into the inner-city environment.
Fast forward to today and Match has just completed its latest Mount Lawley apartment project, M/25 by Match. It is a small milestone that has seen the company come full circle, leaving a trail of influence throughout the City. Since breaking ground on their first Mount Lawley project, Match has earned a reputation for tackling buildings and locations that others were not interested in and created landmarks through heritage restorations of a grand scale.
They were pioneers in areas such as South Beach Estate and Port Coogee and became a catalyst for change that opened the door for improved apartment design and a way of life that didn’t involve a plot of land on the outskirts of the city.
“We always believed there was a market for good architecture and ‘signature’ apartment designs – environments that attract owner-residents rather than just renters,” Mr Lloyd Clark, Managing Director of Match parent company M/Group said.
“All our properties are boutique in nature, and every one offers something that people cannot get anywhere else. This approach has seen us through the GFC and a range of economic conditions because, at the end of the day, people will always want to live in beautiful spaces and great locations.”
Quality has always been an important factor of apartment delivery for Match, so the company evolved. Instead of coordinating the many factors associated with apartment development, the end game was to provide a full-service model that took the apartment buyer from contract to construction to sales and post-handover.
As M/Group, a number of new divisions were introduced to satisfy this demand, including an award-winning construction company, M/Construction, property management and re-sale arm, M/Property, and a funds management business with a retail license that allows everyday people to invest across a range of projects and initiatives.
The company has today delivered hundreds of apartments that now extend from central Perth to the Fremantle region and as far north as Mindarie.
In the weeks ahead, residents will start moving into M/25 by Match, poetically located in Mount Lawley. Where it all began.
For more information on Match and its available products, visit www.m25apartments.com or 0432 660 066.
It is living history for some in FremantleRead more
Only a few historic apartments left at Heirloom by Match
With just a handful of luxury warehouse loft apartments remaining on the market at the highly acclaimed Heirloom by Match rejuvenation project, the historic 96-year old building is in its final stages of becoming a fully repurposed facility; a far cry from its former life as the Dalgety Wool Stores.
The last available loft apartments include two-bedroom, two-bathroom, two car spaces. Each apartment features unique split-level interiors that allow for the architectural formation of eclectic living spaces and soaring ceiling heights against original brickwork and century-old wooden beams.
While most apartments sold ‘off-the-plan’ prior to restoration works, others have been steadily snapped up by new residents who have made history by reclaiming an important part of Fremantle’s past as their own – and many are thrilled with their decision to do so.
Resident Kirsty Farrell is one of the original buyers and wasn’t quite sure what to expect when she finally took ownership of her apartment.
“We got the keys and it felt really surreal. It was a lot bigger than I thought and just amazing. I was stoked,” she said.
“The building is just so iconic, and all the Jarrah beams are amazing. You don’t want to lose that – it’s what Fremantle is.”
Another resident, Maggie Low, was equally enchanted by the Jarrah beams, as well as its central atrium composed by the building’s infamous saw tooth roof.
“I’d been looking for a while and I wanted something different. I always wanted to live in a New York-style apartment warehouse and I either had to have something that was really modern or something with character. I just hate places that have low ceilings,” she said.
“Since moving in, I wake up in the morning and watch a light show against the beam in the atrium and I just love it when it rains.
“The Jarrah beams on my ceiling still have wool-grading letters painted on them and everything seems just so peaceful.”
Some 85% of heritage fabric has been retained in the $130 million heritage restoration project. Designed by acclaimed Architect Dominic Snellgrove of Cameron Chisholm Nicol and constructed by national top tier construction company, Built, the project has won numerous awards and accolades. It is today widely acknowledged as one of the most significant heritage restoration projects in Australia.
The limited number of loft apartments are designed to maximise natural light and accommodate modern fixtures and features, which are juxtaposed against the historic materials.
Heirloom by Match Loft Apartments start from $549,000 and some offer views over the Fremantle Harbour.
For more information on Match and its available products, visit www.heirloombymatch.com.au or call 0432 660 066.
M/Group acquires third sub-regional shopping centre in QueenslandRead more
M/Group has acquired a third sub-regional shopping centre asset, Pialba Place Shopping Centre in Hervey Bay, QLD. The acquisition was made as part of an investment model that has already proven highly successful in the first two of its shopping centre assets.
The Centre was acquired in an off-market transaction for $36million, of which $22million was raised through a company-managed property investment fund. The purchase price represents a yield of approximately 8% on passing net income. The asset is 3.5 hours drive from Brisbane at the gateway to Fraser Island and located on a 4.38 hectare site that occupies an island block surrounded by three street frontages.
M/Group Managing Director, Mr Lloyd Clark, said the site was identified for its development potential and possesses the same return prospects as the company’s current shopping centre portfolio.
“Our model is to acquire assets that provide strong income returns to our investors whilst implementing strategies that reposition the assets. We first look to acquire assets with solid fundamentals and overriding lease covenants that also offer value add opportunities that can improve both the shopping experience and investment returns,” he said.
“The model has already proven successful at Wodonga Plaza in Victoria, which recently recorded an independent valuation uplift of $10.5million in just over a year. We also expect similar results from our WA Asset in Albany, Chester Pass Mall, following the announcement of development plans and an agreement with an ASX National retail group to relocate its premises to the Centre.
Wodonga Plaza was acquired for $ 43.5 million in 2017 and is now operating at almost 100% occupancy. It’s increased Weighted Average Lease Expiry (WALE) has gone from under 4 years to just over 6 years.
Albany’s Chester Pass Mall received a valuation uplift of $5 million from its original purchase price of $20million, again on the back of a ‘hands-on’ leasing strategy. M/Group is expecting a further significant valuation up-lift following the agreement with an ASX National retail group, as well as pursuing other tenant negotiations to further improve amenity at the Centre.
M/Group Director, James Collis, who manages the company’s assets, said M/Group has already identified a number of opportunities at Pialba Place that could further increase the shopping centre’s capital value in the short, medium and long term, including a gap analysis that provides several opportunities for future retail.
“Pialba Place is extremely well located and backed by a good local economy, growing population and a number of blue-chip tenants, including Coles and Big W. This, of course, is pivotal in providing secure long-term income,” he said.
“M/Group is already working on plans to reposition the Centre, including investing in a refurbishment. We take a very hands-on management approach to back filling and renegotiating tenancies for immediate gains.
Settlement of Pialba Place took place Friday, 8 February 2019.
M/Group incorporates expertise in built form and land development, construction and building maintenance, funds management and property management.