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.
Terrace Home designs inspired by ShorelineRead more
An environment as visionary and leading-edge as Shoreline warrants living spaces that reflects a high standard of architectural excellence and, of course, the stunning surroundings.
This is the premise behind the architectural offerings of boutique property company, Match, who has introduced two distinct terrace home options for new residents of the emerging Shoreline community.
Each terrace home design takes cues from the surrounding ocean-side environment, with consideration given to natural light, space and airflow. However, in terms of lifestyle concept and design layout, they are distinctly different.
Here’s an overview of what is on offer.
M/31 Terrace Homes by Match
If natural light and privacy are important to you, you cannot go past this exclusive three-bedroom terrace home complex. It includes just 16 residences designed to integrate indoor and outdoor living. A central atrium and private courtyard creates a striking design feature, which extends across two levels.
A limited release of these terrace homes are available at $585,000 with 50% already sold and under construction.
M/32 Terrace Homes by Match
A community within a community. This distinctive 23-terrace home property introduces award winning UK ‘laneway living’ architecture that is adapted for the Australian lifestyle. The design incorporates beautifully landscaped private laneways and a central lawn area that creates a sense of serenity and space, and is perfect for both families and moments of reflection.
The first release of just 6 terrace homes is now available from $685,000.
All Match Shoreline properties are located on the fringe of Fremantle in North Coogee, just a few steps from the beach and adjacent to parkland. They are both well-positioned to make the most of the future cafes and restaurants planned for the area and are still a short walk to central Fremantle.
Match sister company, M/Construction, has been engaged to oversee the construction of the homes, and will do so with meticulous detail. While this is the company’s first foray into high end signature terrace homes, its combined experience in multi-residential apartments, townhouses and bespoke homes ensures the highest quality workmanship.
M/Construction’s involvement also allows for owner-led floorplan alterations and fixture options.
For more information on Match’s Terrace Homes visit www.itsamatch.com.au/terracehomes
M/25 Apartments by Match | Construction Completed December 2018Read more
Construction completion has been achieved at M/25 by Match in the prime location, Mount Lawley, just minutes from cafes, restaurants and bars.
M/25 Apartments by Match consists of 30 residential apartments and retail space on the ground floor. Each apartment has its own spacious balcony or courtyard for all-year outdoor entertaining.
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.
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.”