In our latest construction update you can see the pour of the level 1 concrete slab equating to a huge 400m3. For this large pour duel pumps were used to ensure a fast paced install. Also seen in this video is the reinforcement to the deep beams, service conduits for lighting and hydraulic services, timber set downs put in place for the future kitchen and bathroom locations and other works in preparation for the level 1 precast panel wall install.
M/Group makes move to consolidate Apartment portfolioRead more
Boutique property conglomerate, M/Group, has taken its next strategic step towards providing a fully integrated-service model that supports its work in the apartment sector; a sector it cut its teeth on some 17 years ago.
The company’s recent move into new West Leederville premises has consolidated an offering that includes fund management, apartment development, construction, maintenance, sales and an emerging dominance as Perth’s only apartment specific management and leasing specialists with M/Property.
M/Group Managing Director, Mr Lloyd Clark, said he is particularly excited about the growth of M/Property and the proposition it presents to apartment investors.
“We have worked in the apartment market long enough to know that the sector’s leasing and management demands are extremely different to that of a tradition stand-alone suburban house,” he said.
“Not many would send their car to a boat mechanic, so we figured why would they entrust an investment apartment to a company that does not have an intimate understanding of the product type. The success of M/Property is testament that this notion holds merit in the Perth marketplace.”
M/Property currently manages over 600 apartments making it one of the largest and only specialist apartment management leasing companies in the State. It has a dedicated leasing team, which is unique in the marketplace, reflecting in a vacancy rate well under the current REIWA industry average.
Further, its success has been achieved over the last four years in an environment where the emerging online ‘do-it-yourself’ portfolio is an option. The company is looking to grow its business organically, however, is open to acquisitions from other business operations that recognise the specialist nature of the apartment market.
“Some of our clients had previously explored online service models and soon realise that the process of leasing and management is more complex than expected,” said Senior Property Manager, Tammy Smith.
“M/Property’s success has been a result of good old-fashioned service, backed by the latest technology, software systems and resources. Our clients get access to an in-house 24/7 maintenance service that is trusted by Government, universities and top corporates.”
Mr Clark believes M/Group’s integrated service model ensures its Property Management division has full control over the apartment pipeline.
“Having an inhouse construction and maintenance team is critical to the management of quality control and providing a high standard of outcomes for our clients,” he continued.
“This is particularly pertinent for apartment owners who want to protect their investment and ensure that the people building the complex are also the ones maintaining it.”
M/Group subsidiary, M/Construction is independently engaged by organisations such Curtin University, Programmed and a number of local and State Government agencies for maintenance services and minor works projects.
For more information on M/Property services visit www.mproperty.com.au.
Christmas comes early with the arrival of new Wodonga Plaza RetailRead more
Christmas will come early at Wodonga Plaza with the announcement that even more new retail outlets will be open by early December.
The local community shopping hub has announced that Rivers and Ally Fashion will be opening, as well as Mastercut Meats – all opening in the coming weeks.
Centre Manager, Ms Cherie Daly, said the Centre is literally buzzing and its new retail tenancies will be great for the community in terms of employment opportunities and shopping variety leading up to Christmas.
“With the arrival of Rivers and Ally Fashion, Wodonga Plaza secures its place as a verified fashion destination, complimenting the broad range of fashion retail already in the Centre with baby wear through to menswear and women’s fashion,” she said.
“Our 140-seat food court is also taking shape with Quick Kababs who opened this week, laying claim to the first of three new takeaway outlets to arrive in the Centre. It all speaks volumes for the Wodonga community and the confidence these businesses have in our region.”
The activity continues with Chemist Warehouse now open having taken over the Amcal Pharmacy, and extended leases in place from Millers, Autograph and Noni B. Harmony Massage will move to a brand new location next to Jay Jays, allowing for an expansion of Goldmark in the wellness centre’s previous space which will include a brand new fit out in the New Year.
Wodonga Plaza’s fashion offer will also be supplemented in the lead up to Christmas with Style Supply Co pop up arriving in December.
Mr James Collis from centre owner M/Group, said he is thrilled at how the company’s vision for the centre has come together, and more so by how much the community and tenants have embraced the company’s $4million refurbishment.
“Who would have thought just 12 month ago there would be so much activity and excitement taking place at Wodonga Plaza. We’re so pleased to have had the opportunity to shine a light on the importance of this regional shopping centre hub to attract national brands, such as Rivers, Ally Fashion and CottonOn Mega, to give the community even more options,” he said.
“As we move towards Christmas, Wodonga will now have an even greater environment to enjoy the festive season. We thank the community and our tenant networks for their support and belief in the vision.”
Christmas festivities will kick-off on 8th December with the arrival of Santa and a free Christmas craft workshop being held between 11am and 2pm on Saturday 15 and Sunday 16 December, 2018.
The community is invited to follow the Wodonga Plaza Facebook Page and/or subscribe to its newsletter via www.wodongaplaza.com.au for regular updates.
Match takes Shoreline Apartments to New HeightsRead more
The latest Match apartment offering is designed to visually connect with its neighbouring terrace home architecture. It takes the unique terrace home design concept and lifts it to a new level, with penthouse apartments featuring two floors of luxury-living and uncompromising soaring ceiling heights.
M/31 Apartments by Match is located at Landcorp’s visionary Shoreline precinct in North Coogee. It incorporates a mix of one and two-bedroom boutique apartments opposite parkland and adjacent to the recently released and hugely successful M/31 Terrace Homes.
Managing director of Match parent company, M/Group, Mr Lloyd Clark said the three-site development aims to create a design cluster that interacts with the natural surrounds, connection to the ocean and extensive open space.
“These residences are all about architecture and pushing the envelope to create signature residences that maximise the location and space,” he said.
“The apartments are set within a quiet tree-lined street, with ground-floor apartments offering sheltered private courtyards. The design is led by the building’s beach-side location with large balconies to capture shade in summer and sun in winter. All materials and colours are inspired from the surrounding coastal environment.”
The building’s top-floor apartments stand out with a floating illusion from the exterior, with a pop of colour to create impact.
“Perhaps one of the most compelling aspects of M/31 Apartments is its location. It is extremely well-positioned just 500m from the beach within the Shoreline Precinct, which is just 4km from the centre of Fremantle and borders South Fremantle Estate,” Mr Clark continued.
“The Shoreline master-planned community integrates architectural diversity with parkland and will soon be home to shops and cafes, as well as a beach footbridge that is practically at the doorstep of M/31 Apartments and Terrace Homes.”
M/31 Apartments start from $335,000 for one-bedroom apartments and $475,000 for two-bedroom apartments.
For more information visit www.m31apartments.com.au or contact 0432 660 066.
Brown-Neaves Tips in to Atop by M/GroupRead more
Home building industry veteran Garry Brown-Neaves has emerged as a major investor in M/Group’s Beeliar subdivision, pre-sales of which were launched last month.
Mr Brown-Neaves and his family have taken a 60 per cent stake in Atop, attracted by the location and character of the subdivision as well as it being an infill site.
Mr Brown-Neaves established his family office Brown-Neaves Investments (BNI) in 2016 when he sold his interests in ABN Group, the second biggest homebuilder in Western Australia.
A Business News 40under40 winner in 2007, Lloyd Clark founded M/Group, formerly known as Match, in 2001 as a boutique apartment developer, before branching out to comprise real estate services, construction, maintenance works, and land development.
John Wroth, a former executive at ASX-listed property developer Port Bouvard, joined M/Group in 2015, and heads the group’s land development arm, Monument.
Atop is M/Group’s second subdivision, following a 67-lot estate in Secret Harbour, which was released late last year.
Mr Clark said the investment by Mr Brown-Neaves was testament to the quality of the Beeliar site.
“While we had already identified Atop Beeliar as a quality opportunity for development, BNI’s investment really highlights what a special project we have on offer,” he said.
“We welcome Garry’s experience, knowledge and input into the project.”
Atop is located along the Western Trade Coast, a land corridor forecast to generate more than 11,000 jobs through a $2.3 billion government injection into road and rail projects, including Metronet.
A local structure plan approval has been granted for 171 residential lots across the 11.8-hectare land parcel, with the release of lots expected in four stages over the next two to three years.
The estate will also include integrated parkland and the preservation of a number of established tuart trees.
Blocks at Beeliar range in size from 217 square metres to 630sqm with prices expected to start at $245,000.
Mr Brown-Neaves said he was attracted to invest in the Beeliar site because of its location and character, the available views, and because it was an infill site with nearby access to Fremantle and Cockburn.
“All my (Perth) assets are spread across the metropolitan area, and a lot in the greenfields,” Mr Brown-Neaves said.
“When this opportunity was presented to me I thought it could be considered an infill development and we were keen to get on board.
“It’s in a location we don’t have any assets, it is an infill site and it has unbelievable views.
“It’s a beautiful bit of land and we considered it a good investment and a project we wanted our name attached to.
“It is a good project in so far that it has a varied product to meet a range of customers. Some of the smaller lots will give people with smaller budgets the opportunity to live in this area.
“It is important to us to do quality investments and continue along the same lines as I had in the building industry.”
Mr Brown-Neaves’ family investment company has an interest in more than 4,000 lots, mostly in Western Australia, but with some exposure in Brisbane, Cairns and Melbourne.
“We like to have between a 15 per cent and so per cent share,” Mr Brown-Neaves said.
“John Wroth brought the deal to us. We go into business with people we believe are trustworthy, and we certainly believe in John and Lloyd.”
Bulk earthworks have been completed at the site, retaining walls are under currently construction and pre-sales have commenced.
Despite Mr Brown-Neaves’ experience in residential building, he said the developers were open to using any and all builders at Beeliar, with a focus on good design and good value.
Mr Wroth said despite current weakness in the metropolitan property market he was confident the Atop development would be well received.
“Atop is being developed as an infill site, which means it is prime land that has simply never been available to the public,” he said.
“The lots are being released as buyer confidence returns to the land market and demand is beginning to soak up existing land titles.
“In this climate, we are likely to see developers push the urban boundaries further from the city to meet demand, which is in contrast to Atop’s offer of premium land in an established and sought after location, with jobs and infrastructure already in place.”
– Peter Kermode, Business News (5th November 2018)
Quest Apartment Hotel – Joondalup – Crane InstallationRead more
M/Construction’s latest construction job of the new Quest Apartment Hotel in Joondalup on Boas Avenue has commenced. See the installation of the crane here.
M/Group has confirmed the acquisition of an elevated 11.8-hectare residential development site in the Perth suburb of Beeliar. The acquisition is a result a successful capital raising venture of $13.85m; adding to a long list of investment funds issued by the company that have oversubscribed within weeks and taking the Group’s total capital raise to over $70million in just 12-months.
The Beeliar site is the vertical property Group’s second land estate project, having only entered into the land development sector in late 2017. The site has received Local Structure Plan approval for the development of 171 residential lots with integrated parkland and the preservation of a number of established Tuart Trees throughout the site.
M/Group Managing Director, Mr Lloyd Clark, said the Beeliar land acquisition is a significant leap in terms of value proposition from the company’s initial land venture in Secret Harbour, but is well-aligned to the organisation’s strategic interests.
“M/Group continues to generate investment interest for the development and delivery of investment fund opportunities that often result in oversubscription. Our portfolio today covers a broad range of built form, income producing asset and now land development, and we have found this approach of providing investment diversity to be highly effective in changing market conditions,” he said.
“A hallmark of M/Group’s ongoing success across all products is the identification and acquisition of strategically located sites. By all accounts, Beeliar is certainly one of these.”
The projected financial return for private equity investors is 70% over a forecast 36-month investment period, with distributions to be paid on the basis of a 27% Internal Rate of Return.
“Our increasing interest in residential land product complements a portfolio that now incorporates apartment developments, shopping centres and commercial development,” Mr Clarks continued.
“We are extremely privileged to have a growing staple of investors that share our long-term vision and support each project and what we can deliver.
“Perhaps the key reason we experience such rapid success with our fund releases is our approach. M/Group is not merely about acquiring and selling, we have the capacity and the internal expertise to build value into each investment and will continue to source and secure product that meet our strict criteria.”
From its beginnings as an apartment development company operating in inner city Perth some 16 years ago, M/Group today incorporates an integrated range of inhouse services that include M/Construction, M/Finance and M/Property real estate expertise.
M/Group holds an Australian Financial Services License and currently has $172 million of funds under management.
For more information on M/Group’s property portfolio visit www.mgroup.com.au.