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.
Rivers Australia triggers flow of improvements at Pialba PlaceRead more
The first in a series of anticipated improvements promised by the new owners of Pialba Place has been announced. Rivers Australia has signed a five-year lease agreement and is scheduled to arrive at the centre in or around August this year.
Rivers Australia is one of Australia’s most recognised fashion brands with stores located across the country.
Mr James Collis, Director at M/Group who is the new centre owner, said the new lease agreement is an early indication of great things to come, as M/Group takes further steps to evolve Hervey Bay’s local community shopping hub.
“When M/Group acquired Pialba Place in February, it did so on the premise of improving the shopping experience for customers with the introduction of a broader retail mix and the creation of an environment to suit a diverse demographic,” he said.
“It’s clear that our vision has already caught the attention of significant retail players such as Rivers. This is not only great for the local community, but also a wonderful indication of things to come.”
Rivers will occupy a space on the left-hand side of the Big W Mall and will complement the affordable fashion offer at the Centre.
Its arrival will prompt a series of relocations of existing tenants and Centre Management is working to ensure minimal disruption.
Group Centre Manager, Ms Cherie Daly, said Rivers is the first of several initiatives being introduced at the Centre, and the community can expect more exciting announcements over the coming months.
“We are extremely grateful to the commitment of our existing tenants who play a significant role in helping us deliver a great outcome for the shopping centre,” she said.
“In the coming months we hope to be announcing more new retailers and plans for a refurbishment. The company has developed a good track record in this regard and we’re so pleased that the Hervey Bay community will be reaping the benefits.”
M/Group currently owns and manages Wodonga Plaza in Victoria and Chester Pass Mall in Albany Western Australia, which both have recently received significant investment through development planning and refurbishment, attracting new tenancies and an improved shopping experience.
New residential icon opens in Mount LawleyRead more
Mount Lawley’s newest streetscape addition is now complete, injecting new life into the corner of Walcott and Burt Streets with an influx of new residents and a potential new café / retail operation on the ground floor.
M/25 by Match is a boutique mixed-use apartment building with only 30 residences. It is designed to integrate seamlessly into the culture of its Mount Lawley environment.
Mr Lloyd Clark, Managing Director of Match parent company, M/Group, said that the building has been designed so that it is difficult to separate the apartment interiors from the lifestyle that its location offers.
“These apartments have been designed with one thing in mind; to create an environment that complements the activity and facilities that are located at its doorstep,” he said.
“The apartments interiors are art gallery-look inspired, which means clean lines with black and white surfaces and elegant fixtures. We want the residents to ‘curate their own exhibition’ and express themselves through the space.”
Each apartment features black tapware in kitchens and bathrooms, Bosch oven and electric cooktop, reconstituted stone benchtops, marble splashbacks and reverse cycle air-conditioning.
The property is located within walking distance to the Beaufort and Angove Street precincts, a short walk or bike ride to the Edith Cowan University and parks and a bus ride to the CBD.
“To us, M/25 by Match is all about the incredible location and we wanted to create a design that really links its residents to the location and culture of the area,” Mr Clark continued.
“We feel we have already hit the mark in this regard, as the apartments were already 50% sold on completion. We are now looking forward to showcasing the remaining apartments as ‘move-in-ready’ and giving residents a great retail venue on the ground floor and surrounding area.”
M/25 by Match draws inspiration from the suburb’s Federation red brick and terracotta houses. The façade uses contrasting shapes, materials and colours to link the lively urbanism of Walcott Street and create a strong corner presence.
Apartments are offered in one or two-bedroom floorplans with private courtyard or balcony entertaining space. Some apartments offer sweeping CBD views.
For more information visit www.m25apartments.com or contact 0432 660 066.
Quest Apartment Hotel – Joondalup – Construction ProgressRead more
In our latest construction update you can see a time-lapse from commencement to March 2019. This shows the fast speed of construction for this type of build in just over 6 months.
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.”