M/Group’s propensity to identify and secure extraordinarily stable income producing property investment opportunities continues with its latest investment fund release for a high-profile commercial property in East Perth.
The company is seeking to raise $5.8 million for the well-located office building at 130 Royal Street.
The property is fully occupied by longstanding tenants from a diverse range of industries and is centrally located close to the CBD, transport, main roads, restaurants, cafes and retail outlets. It is also in close proximity to Optus Stadium, Crown Casino Perth and the Matagarup Bridge that connects East Perth to Burswood Peninsular. Importantly all tenants have renewed (or are in the process of renewing) their leases in the last 2 years.
The investment fund is targeting an 8.5% per annum return on investment paid monthly and with a WALE (Weighted Average Lease Expiry) of over four years.
M/Group Managing Director, Mr Lloyd Clark, said the property was again secured by M/Group in an off market negotiation and is based on an investment framework that has been highly successful with the company’s other funds.
“M/Group’s is so proud of its ability to attract reoccurring investment and oversubscribing on funds. It is testament to our strategy and the standard of investment opportunities we continue to deliver,” he said.
“This latest fund release is underpinned by strong investment fundamentals. It’s location and strong tenancy leaves little risk in achieving positive returns. We have no doubt the opportunity will be welcomed by our network of investors.”
The Royal Street property sits on a land area of 751sqm, where the building itself comprises a total net lettable area of 1,857 sqm with typical floor plates of 585 sqm. It offers 27 secure undercover car parking bays and has an environmental rating of 4-star NABERS and is BEEC certified.
M/Group Director of Asset Management, Mr James Collis, believes demand for this class of investment opportunity is high, especially with bank interest rates being at an all time low.
“Given the lack of return being paid by banks, investors are seeking secure investments that can provide a high yield and paid regularly.
“M/Group works to a proven strategy and packages its opportunities for minimal risk and maximum returns. We have demonstrated exceptional capacity to deliver on this criterion, and our track record speaks for itself.”
The investment period for 130 Royal Street, East Perth will span over seven years with a minimal investment requirement of $50,000.
Titles Arrive for Large Lot Wellard EstateRead more
Titles have been issued for the first tranche of oversized homesites located at the new-concept boutique estate, The Wedge. The event signals the completion of Stage 1, which already has some 30% of available land sold.
The Wedge is located on one of the last development sites within the sought-after Wellard North community. Homesites have been designed in response to a recognised family preference for larger land, with lot sizes ranging between 350sq.m and 475sq.m
Developer Mr John Wroth, Director of Monument parent company M/Group, said he is looking forward to heightened activity within the estate now that the land is ‘build-ready’. He said, being A-Class titled land with no bushfire conditions, owners will have the flexibility to select from a broad range of home styles and designs.
“There is no question that we successfully acquired a very special piece of land to work with at The Wedge. True to its name, the site is ‘wedged’ within one of the most sought after areas in the region. It is surrounded by the stunning Bulrush Nature Reserve, which is protected land that will continue to provide a natural shelter and lush green backdrop,” he said.
“Once in the estate, however, we are beginning to see a glimpse of the character and lifestyle features planned for the site. This includes large lot sizes based on market feedback, children’s playground and pump-track, walkways and ample public space. Together with the proximity to impressive community amenity, there is little wonder that the initial land release attracted so much momentum.”
The Wedge is located between the freeway and the ocean and is close to public transport, medical facilities, schools, shopping and just 30 minutes to Perth CBD.
It is being developed to a company philosophy that seeks to introduce a sense of distinction and character to an environment through considered design and special features. Such an approach is in keeping with the broader M/Group values and has already been highly successful at sister developments in Secret Harbour and Beeliar.
“As soon as you approach the entry statement at The Wedge, it is quite obvious that this is not a typical land estate,” Mr Wroth continued.
“We look beyond the standard ‘cookie-cutter’ environment to create a new style of estate that really sets it apart from the rest. This approach has now been successful across three consecutive estates and we are thrilled the market is responding positively.”
The Wedge is located on Bertram Road, Wellard North and Stage 1 homesites start from $174,000.
For more information visit www.thewedgewellard.com.au or contact Damyn Strang 0434 070 654.
Safe and Stylish in the CityRead more
As a school teacher and single woman, Debbie Bruce was looking for a safe and centrally located home with everything she loved close by. She found this and more in a one-bedroom apartment at M/25 by Match in Mount Lawley.
M/25 by Match is located on the corner of Walcott and Burt Streets in Mount Lawley. It is a boutique mixed-use apartment building with only 30 residences, designed to integrate seamlessly into the culture of its Mount Lawley environment.
It is this culture that had been a major drawcard for Debbie when considering her purchase.
“Everything is close by and the area makes me feel like I’m travelling round the UK, with little streets, old houses, history, culture and community,” she said.
“A typical weekend generally includes heading out somewhere close for a nice walk, and meeting a friend for breakfast or coffee. My gym is two-seconds away and Fresh Provisions stays open until 10pm at night.
“The biggest thing for me is that I can do whatever I want, whenever I want to – even when I work long hours, I feel safe.”
As a single woman, Debbie wanted to live independently but didn’t want to worry about people jumping fences.
Mr Lloyd Clark, Managing Director of Match parent company M/Group, said safety is often one of the most important factors for people looking to tap into the apartment lifestyle.
“The global shift in people choosing apartment living over a half acre block on the outskirts of town is well documented. However, their motivations can vary,” he said.
“Safety is definitely extremely important, particularly for families and young single people like Debbie. However, others are enticed by the low maintenance aspects, lock up and leave qualities and surrounding amenity.”
Match has been instrumental in leading a philosophical change in Perth that has evolved apartment architecture from bland ‘cookie cutter’ environments to well-considered designs that integrate into the surroundings and enhance the occupant’s lifestyle.
M/25 by Match was architecturally designed by award-winning architect Cameron Chisholm Nicol and features a distinctive mural artwork by renowned artist, Kyle Hughes-Odgers.
“I love that (M/25 by Match) doesn’t feel like the apartment has been done on the cheap. I have high ceilings, skylight, splash back. I think a lot of apartments can feel closed-in and I like that this is so open and bright and airy,” Debbie continued.
“When I sit out on the balcony I can see the skyline and fireworks when they’re on. And because I purchased when the building was complete, it was mine quite quickly.
“It’s great that I could go into a place that felt nice and I could afford it.”
‘Move-in-ready’ apartments at M/25 by Match start from $349,000 for one-bedroom apartments and $465,000 for two-bedroom apartments.
For more information visit www.m25apartments.com or contact 0432 660 066.
Quest Apartment-Hotel | Construction Completed November 2019Read more
Construction completion has been achieved at the Quest Apartment-Hotel located in the heart of Joondalup on Boas Avenue.
The Apartment Hotel consists of 90 rooms across 5 levels plus commercial / cafe space on the ground floor.
The Latest Addition to Freo’s South TerraceRead more
M/28 by Match is a modish addition to the eclectic South Terrace neighbourhood built with a nod to the past and a high five to the future in one of the most desirable and vibrant corners of the greater Fremantle area.
Located in the heart of South Fremantle on the iconic South Terrace café and restaurant strip, M/28 by Match is a three-storey mixed-use development comprising of 20 apartments and 6 commercial tenancies to the ground floor designed to achieve a 4-star green rating. Of the 20 apartments, there are four 1×1, three 2×1 and thirteen 2×2 apartments with a mixture of single and split-level apartments.
M/28 is designed with coastal dwellers in mind including most South Terrace facing apartments enjoying views across the harbour whilst the apartments on the south-side of the building benefit from two private courtyards for entertaining and outdoor living.
The apartments are accessed from the pine-tree-lined Charles Street into a private lobby which includes a lift to all levels and a main stair-well showcasing feature tiling and a timber slatted ceiling with detail lighting.
Michael Read, Director of M/Construction (part of M/Group), said “The building appeals more to the owner occupier market and astute investors typically wanting two-bedroom apartments. The considered building layout creates a diverse housing solution that responds to changing social demographics.”
Designed by David Barr Architect in collaboration with Cameron Chisolm Nicol the building includes protruding box shapes on the north and south elevations finished with a Venetian plaster creating a standout feature along with unique vertical slats that encompass the building in certain areas. These elements help set M/28 apart from its surrounding structures.
The slatted balconies along South Terrace also incorporate a full length shelf angle which is beneficial to the residents as a countertop for décor and entertainment. In addition, the residents have access to a common courtyard on the first floor with Australian native planting in concrete planters. Greenery and vegetation has also been added to the southern rear entrance off South Terrace.
Designed with contemporary coastal living in mind while respecting the fabric of South Fremantle’s past.
In collaboration with the architects, M/Construction Project Manager, Joshua Stott explained how plans were amended to change levels of the original building design.
“The building’s form and scale were developed with respect for neighbours, stepping from three storeys at one end to two at the other, thereby negotiating the height change between an existing heritage pub on one side and single storey housing on the other.
“On its southern boundary, where the project abuts an existing heritage house, the building height was stepped down and then later, following negotiation and collaboration with the local authority and neighbours, altered to further reduce the effects of overshadowing and overlooking.
“The two-storey high brick boundary parapet wall on the eastern side, which was originally part of the existing factory that was demolished, had to be incorporated into the new building design.
Internally, the finishes of the apartments flow from the industrial to the contemporary which is achieved using timber and light, concrete-look colour schemes along with matte-black accents. The project team were also able to accommodate purchaser design changes with minimal disruption to the program.
Each apartment has a contemporary and eclectic mix of materials, textures and finishes that evoke a uniquely South Fremantle feel.
For the external finishes Joshua noted that “Due to the close proximity of the ocean, the project required extra attention to the selection of some materials and products such as stainless-steel hardware and treatment of the external metal work finishes.
“All screens were originally designed to be timber. However due to the fire requirements & regulations they were redesigned to be aluminium wood-look screens which is better for future maintenance and longevity.”
Minimum waste was another important factor and it was achieved by choosing specific products which were all accounted for during the build.
Coordinating a project amidst the busy pedestrian and road traffic of South Terrace was a logistical challenge for Joshua and his construction team. “Main challenges included ensuring neighbours, including residents and businesses, were not impeded by our construction schedule. There was pressure from both boundaries regarding their concerns with disruptions.
“To combat this both myself and the Site Manager had regular meetings with them, providing open communication, and keeping them up-to-date with different construction milestones and all potential impacts to them.”
All challenges were able to be overcome and therefore enable construction of the project to be completed three weeks ahead of schedule.
M/Construction have a transparent and flexible process on delivering the best possible outcome to the client, while at the same time maintaining a strong sense of control over a project’s development. This approach provides a number of benefits — shortened program times, improved value and the opportunity for innovation.
Find out more about M/Construction here www.mconstruction.com.au
Scale Developer-Builders still rare in PerthRead more
Building quality has been under the microscope for some time, so why aren’t more developers taking steps to reduce their construction risk via an in-house building team?
It may appear counter-intuitive, but the number of genuine developer-builder companies operating in Perth can be counted on one hand, particularly when it comes to larger-scale developments.
Despite the significant benefits of a developer having an in-house builder, including increased quality-control and reduced risk, few construction or development organisations have been successful in making the developer-builder model work.
Mr Michael Read, Director of M/Construction (part of M/Group), one of only a couple of successful larger-scale developer-builder firms in Perth, said the model is generally considered best practice, but it can prove difficult to create a good partnership.
“Achieving the right fit in terms of staff or partnership can prove difficult in an environment where the cultures tend to be quite different. In Perth, our main players are fairly established and there needs to be a lot of trust between both parties for the model to work effectively,” he said.
“While there is unquestionably merit in having a good appreciation of the development process as well as maintaining complete control of the entire building program and its outcomes, the concept has not been fully embraced by the sector and most developers continue to outsource to third-party builders.”
Unlike most construction-based firms, M/Construction evolved within its parent company, M/Group. The company was initially introduced to improve the building quality and maintenance of M/Group’s apartment and commercial projects, but quickly earned industry credibility to work independently of the group.
M/Construction uses its value-add service model to attract new building contracts and build on its capabilities in the building and maintenance sectors. The company recently took home three awards at the Master Builders Western Australian Awards for Excellence, including Best Multi-Unit Development between $10-$20million for Form Apartments by Match; an award the company has won two-years running.
Although most builders today offer a form of design-construct service, a developer-builder can operate both as a single service or independently, and both disciplines’ credentials are of equal calibre.
“Construction is without question a distinct skillset that requires a lot of experience. This is why some 90% of developer-builder companies derive from building firms initially rather than developers. However, the development expertise should not be overshadowed in the mix,” Mr Read continued.
“Certainly, within our organisation, being involved across the entire design and construction process creates a sense of pride in our staff. It is a different experience than working purely for a construction firm. We get to take ownership of the project from concept to completion.”
Michael Read joined M/Group as a highly qualified and experienced Registered Builder with some 20-years under his belt in top-tier organisations. Rather than a company merger, the M/Construction team was built from within the organisation which helped to circumvent any potential staffing or cultural issues.
Of Western Australia’s top twenty builders, very few are considered to be true developer-builder.
Find out more at www.mconstruction.com.au
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.