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Quest Apartment Hotel – Ascot – May 2019 Timelapse Video
Commencement of Ascot is finally underway.
In our latest construction update, 500m3 of “grey gold” cement has been poured within one day. This raft slab pour forms the building envelope and is an extremely solid foundation for the eight-storey serviced apartments that will be built.
Two apartments emerge at ‘sold out’ South Terrace
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M Group
Two apartments emerge at ‘sold out’ South Terrace
Just weeks before M/28 Apartments by Match on South Terrace is complete and becomes ‘move in ready’, two luxury apartments have been made available in a complex that ‘sold out’ within months of release.
M/28 is a mixed-use building comprising of just 20 boutique apartments on the popular South Terrace coffee strip. The building is deliberately designed to present as understated with naturally inspired materials and palette, which take inspiration from the Fremantle culture and nearby heritage-listed community hot-spot, The Local.
Mr Lloyd Clark, Managing Director of Match parent company M/Group, said the decision to release the remaining two apartments was not originally planned by the company, but provides new opportunities for those wanting to live in arguably Fremantle’s most cosmopolitan location.
“The apartments attracted overwhelming interest when we released them. It was clear that the opportunity to live in such beautifully designed apartments in the heart of Fremantle’s busy café strip was extremely attractive,” he said.
“No doubt there were many disappointed parties who missed out on securing an apartment in this tightly held location, which makes the current release an even more exciting prospect for many.”
The apartments have been designed in collaboration with respected and award-winning architects David Barr Architects and Cameron Chisholm Nicol Architects.
Every design detail has been considered to deliver an understated and functional design statement that reflects contemporary coastal living with high quality finishes, such as timber, engineered stone benchtops and concrete-porcelain tiles. The apartments also achieve a comparable 4-star Green Star rating; an aspect sighted as extremely important to people living in the area.
M/28’s exterior façade continues the natural theme which incorporate timber screens. This feature is reflected in the lobby with timber ceilings and concrete-look finishes.
The property also includes commercial sites on the ground floor, offering a potential ‘live and work’ option with an extremely visible South Terrace street frontage.
“The release of the last two apartments at M/28 by Match and availability of commercial space on the ground floor opens a lot of doors for those who really want to embed themselves into the Fremantle culture,” Mr Clark continued.
“This new release is without question a highly attractive proposition that is unlikely to last very long.”
The site falls within the development zone approved for a street upgrade and revitalisation by the City of Fremantle. This includes additional trees, landscaping and upgrade to footpaths between South Street and Douro Road.
M/28 by Match is due for completion in June, and is open for viewing now.
For more information visit www.m28apartments.com.au or contact 0432 660 066.
Construction Commences on M/Group’s Second Quest
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M Group
Construction Commences on M/Group’s Second Quest
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 info@mgroup.com.au or (08) 6380 0400.