M Group
Kiarna’s New Lease for City Apartment Investors
It’s fair to say that apartments are unlike any investment product on the market. There are considerations and strata regulations that require a different approach in order to fully maximise investor returns.
Kiarna Blythman knows too well about the subtle nuances that put apartments in a category of their own.
This is why, after eight years’ experience across all aspects of property leasing and management, Kiarna has joined M/Property as its Business Development Manager. She has assumed the role with a keen interest in demonstrating the value of specialist apartment management to rural owners of city apartments.
“Trusting your investment apartment to someone who only deals with stand-alone houses is like sending your boat to a car mechanic,” Kiarna said.
“There is no question that an apartment investment offers great benefits to those looking for a low-maintenance foothold in the urban marketplace, but there are definitely aspects where it is advantageous to have someone on the ground with knowledge of strata legislation, maintenance requirements and tenant selection tactics.
“M/Property only deals with apartment leases. It seemed a perfect fit for my scope of experience.”
Kiarna has held both ground-floor to senior positions in property sales and leasing, including Sales Administration, Strata Assistance to Property Manager and Leasing Manager.
She joins a highly experienced team of property experts and is backed by the expertise and resources of M/Group; a company that cut its teeth on apartment developments.
M/Group Managing Director, Mr Lloyd Clark, said the introduction of a property management firm to work exclusively in apartment leasing and management was done to fill a gap in the market.
“As a company, our vision has always been to provide our clients with a holistic experience, and we recognised early that engaging a standard property management business to assist our apartment investors did not provide an ideal outcome,” he said.
“Since we launched M/Property, we have grown to become one of Perth’s largest apartment management companies and have helped hundreds of investors through complex apartment and strata issues.
“Our extensive database of prospective tenants can be effectively matched with a depth of knowledge on most apartments complexes across the Perth CBD, Fremantle and surrounding suburbs.
”Kiarna is a welcome addition to our team and is available to provide more detail about our services and offer to anyone looking to upgrade their current management arrangement.”
For more information or to make an appointment with Kiarna, please contact 0499 909 116 or email kiarna.blythman@mproperty.com.au.
When Downsizing Opens New Doors in Life
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When Downsizing Opens New Doors in Life
Jillian Marshallsay raised her family in a comfortable home in the Perth hills, but with the kids grown up and children of their own, it was time to consider her lifestyle options and take steps to be closer to her family. She purchased a boutique apartment at M/28 by Match in South Fremantle and hasn’t looked back.
Jillian is one an estimated 2.5 million Australian households with owners over 55 who have already downsized or thought about it (Ref: Australian Housing and Urban Research Institute (AHURI)).
The catalyst for her was when her son found the South Fremantle apartment and said, “mum this is for you – you need to get a life!”
“I do love the hills, the walks in the bush, the birds, (but) when you have aging parents and grandchildren, there’s no way you can actually fit everything in with work,” Jillian said.
“I needed a change for the next stage of my life and I wanted to be by transport and close to the beach. I wanted to walk everywhere; the shops, restaurants, cafes and the beach.
“Moving to the city is a total sea change for me!”
Like many others, Jillian purchased her apartment as part of a transition into retirement. She bought off-the-plan and had to visualise what she had invested in while it was under construction.
“It’s sort of better than I thought actually. It has a bigger kitchen than I visualised and I love the full-length windows. I’m happy with the open plan concept and I do like the big pots and the landscaping in the garden.
“I can just lock up and leave and go travelling if I want to and not have to worry about gardens or maintenance.”
Mr Lloyd Clark, Managing Director of Match parent company M/Group, said Jillian is one of a growing number of baby boomer clients moving into Match apartments.
“It is so rewarding to see many of our clients discover a new lifestyle through our apartment designs. They may have moved to the coast or swapped their suburban residence for the inner city, but most wonder why they hadn’t done it before,” he said.
“Apartment design is so different from cookie-cutter environments of the past that were built purely for investment purposes and to maximise space. Today, good developers consider everything from privacy to light, airflow and other comforts that would appeal to an owner-resident.”
“M/28 by Match has given Jillian and its other residents a central and coastal home-base in the thick of South Fremantle. The lifestyle and environment are hard to beat.”
M/28 by Match 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.
Prices start from $440,000 for one-bedroom apartments and $550,000 for two-bedroom apartments.
For more information visit www.m28apartments.com.au or contact 0432 660 066.
Marawar Building Indigenous Opportunity
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Marawar Building Indigenous Opportunity
A new building services group is creating opportunities to boost Aboriginal employment in construction.
Gerard Matera is helping turn positive sentiment around Aboriginal reconciliation in the business community into genuine change through indigenous-owned building company Marawar.
Mr Matera, brother of former West Coast Eagles players Peter and Phil Matera, established Marawar Building Services about 12 months ago, responding to what he believed was a gap in the building and construction market.
Mr Matera told Business News that while there were widespread opportunities for Aboriginal people to engage in the mining industry in Western Australia, there was little participation in building and construction, particularly in Perth and the South West.
“In WA, there are approximately 33,000 apprentices in training,” he said.
“Out of those figures, only 741 apprentices are Aboriginal.
“And in Perth and the South West, in Nyoongar country, there are fewer than 90 Aboriginal people in the building trades.”
Mr Matera said there was considerable opportunity to increase participation, with large corporates and government agencies increasingly seeking better engagement with Aboriginal-owned businesses.
However, despite a willingness to engage, he said there had been challenges in turning sentiment into opportunity.
“A lot of the companies that are participating in government contracts and the private sector generally have some sort of achievement document or Reconciliation Action Plan, or some sort of guidelines that say they want to engage meaningfully with Aboriginal people on construction jobs, but no-one is policing it, no-one is really making sure that they are engaging and it is meaningful,” he said.
“A lot of times there is reluctance to give a contract to an Aboriginal business; it’s usually entry-level contracts that don’t really make a big difference.
“I’m looking for long-term contracts where I can employ tradies and apprentices, which is what we set out to do in the first place.
Mr Matera said his aim for Marawar, which is 50 per cent owned by building and development firm M/Group, was to become the WA building industry’s biggest employer of Aboriginal people.
“At the moment we are sitting at about 40 per cent Aboriginal participation, and that is through apprenticeships and traineeships,” Mr Matera told Business News.
“We are also employing Aboriginal tradies who are taking on an Aboriginal apprentice, which I think is really key.
“I don’t think anyone other than us is actually putting together an Aboriginal apprentice with an Aboriginal tradie. It makes a massive difference.”
Marawar recently signed a major contract that goes some way to achieving the company’s lofty goal, collaborating with M/Group’s M/Construction to build a Bunnings Warehouse in Albany on behalf of Wesfarmers.
That deal was followed by a contract with another Wesfarmers-owned brand, Officeworks, to refurbish and paint all of its stores in WA.
Marawar is also building social housing for the Department of Communities, a deal that Mr Matera said made the company the first Aboriginal-owned business in WA to build multi-storey apartment projects for people on social welfare.
In December, Marawar signed two more significant deals to provide maintenance work for the Department of Finance.
Along with the job opportunities, Mr Matera said Marawar was helping to dismiss negative perceptions of indigenous work ethic and Aboriginal-owned businesses.
“A lot of people think that Aboriginal businesses just get awarded these contracts, but you actually don’t,” he said.
“You have to be competitive and commercial and provide the right quality.
“Yes, we tick a box in that we are an Aboriginal business, but you can’t be more expensive and you can’t provide a crap service. It’s the same process.
“Being Aboriginal, and I’ve felt this personally, I think the client always thinks that we are not going to provide a good service and we are not going to provide quality.
“So there is a constant effort to try and change people’s perceptions of what an Aboriginal business actually is and what it can provide.”
M/Group managing director Lloyd Clark said the joint ownership of Marawar provided far-reaching benefits across the company’s entire operation.
“The introduction of Marawar has not only been embraced by the Perth business sector, it has also engendered a sense of purpose within our staff environment,” Mr Clark told Business News.
“Suddenly our work has taken on greater significance and there is a new level of pride in what we are achieving.”
Dan Wilkie, Business News
M/Construction’s Latest Completion – Quest Joondalup Hotel
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M/Construction’s Latest Completion – Quest Joondalup Hotel
Cutting-Edge Apartment-Hotel Project Consolidates Joondalup’s Burgeoning Growth
The last 20 years have been pivotal for Joondalup. As Mayor Albert Jacob notes, “The Joondalup city centre has flourished into a successful, highly liveable commercial, civic and cultural destination. Today marks another significant milestone in our journey, as work begins on this outstanding development.”
He was referring to Quest Joondalup, a new apartment-hotel property developed by M/Group and built by M/Construction that is strategically positioned in the primary urban centre of Perth’s outer northern suburbs. The city centre already accommodates the Lakeside Joondalup shopping centre, Edith Cowan University and Joondalup Health campus, as well as substantial local and international office and industrial tenancies.
Quest is Australia’s largest apartment-hotel operator for total properties, which are located in central business districts, and suburban and regional areas – with close proximity to head offices, business centres and key tourist destinations. The Joondalup location on Boas Avenue is seen as an excellent fit with Quest’s ongoing growth model in Western Australia.
Cutting-Edge Features for Contemporary Short-Stay Accommodation
Quest Joondalup is a 90 key hotel comprising studios and one and two-bedroom apartments. Its design concept takes advantage of the fact that studios are considered a great alternative to regular hotel rooms. They feature a comfortable king bed and kitchenette; while the one and two-bedroom apartments are equipped with a full kitchen and laundry facilities, providing a home-away-from-home experience that is ideal for families, professionals and larger groups.
The development is accessed off the street-front into a large entry lobby, including a central lift accessing all six levels, with commercial tenancies on the ground level (and the opportunity for a café/restaurant). The ground floor also includes a conference room, guest laundry and gym, plus on-site parking.
According to M/Construction Director Michael Read, the main challenges during construction included coping with busy traffic in Joondalup city’s main street. “This involved well-planned traffic management in advance due to council requirements and neighbours owning the right of way adjacent to the site, as they needed 24-hour access to the laneway for parking at their property.”
Due to the very tight construction program, the building design was modelled using a precast wall & floor system for speed and efficiency.
Hollow-core pre-cast concrete floor panels were used throughout the building to complete a floor each fortnight. This further facilitated the construction program, as the trades were able to gain access to the floor area below to commence their works under the main structure, which would usually be obstructed and inaccessible for a month by scaffold-props if the floor had been an in-situ suspended slab.
“As the design was progressing so rapidly we had to re-think how the balcony structures would be incorporated into the build. It was decided to be a post-fix bolt-on light-weight structure which enabled the main structure to continue unimpeded.
“In addition, the roof design was changed from a structural steel and sheeted roof to a flat concrete roof, which saved M/Construction a month in program time and ensured the building was watertight ahead of schedule and avoided the wet winter months. With the concrete flat roof, it also gave us the opportunity to re-locate all the mechanical plant and equipment as well as hot water services on the roof instead of being installed elsewhere, as there was limited space available within the property.”
Another challenge was the inability to lift or load goods and materials from the main street, so a designated area was created on-site to fit a tower crane and allow panel truck deliveries. “This was difficult with a limited lay-down area,” said Michael Read, “but was overcome by additional coordination and scheduling to ensure no clashes with deliveries.”
Also, when digging out the lift pit and crane base, rock pinnacles were discovered in the ground – slowing down the excavation process. Shared land with a church next door presented another new challenge, which was managed by regular meetings to ensure they were aware of all ongoing works.
Other significant features included:
- Protruding balconies incorporating bold colours to create a feature on the streetscape.
- A custom-designed floating deco-wood feature panel at entry, creating a delineation between the apartment-hotel and ground floor commercial tenancies.
- A fully-cladded lobby with feature wall panelling using a timber-look for a seamless transition from outside to the indoors.
- A landscaping design throughout the building inspired by the original site’s ground cover, which consisted of grass trees and other native Australian plants.
Committed to the Environment… and Enhancing Efficiency
As always with their projects, M/Group were focused on a firm commitment to sustainability. The landscaping featured Australian flora, easy to maintain and care for with minimal water consumption.
Minimum waste was also an important factor, according to Michael Read, and this was achieved by choosing specific products which were all accounted for during the build. “In addition, we used high-quality products and finishes to ensure the building’s longevity.”
The end result was recognised as a resounding success for all parties.
The project was completed on budget and on time, thanks to the implementation of construction suggestions for changes in materials aimed at building with greater speed and efficiency. Most of the changes in materials were structural components, such as the aforementioned pre-cast walls, hollow-core flooring, post-fixed balconies and concrete roof. The flat concrete roof also allowed the building team to waterproof the building faster and therefore create a safer environment for the near-finished apartments below.
As a large international operator, said Michael Read, Quest had strict briefs and guidelines in place. “We navigated these and worked closely with them to ensure these expectations were met to keep the client satisfied and achieve a positive outcome for all parties. We were also able to assist the client with last-minute design changes and upgrade requests; and regular safety and toolbox meetings were held to ensure all parties were informed throughout the build process.”
How to Improve the Occupancy and Profitability of an Investment Property
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How to Improve the Occupancy and Profitability of an Investment Property
While REIWA reported its September Quarter vacancy rate at an encouraging 2.9%, the stats drawn from apartment property management specialists, M/Property, were even lower at 1.97%. As experts in this sector, they believe there is always scope to improve the occupancy and profitability of an investment property.
M/Property is one of the only specialist apartment management and leasing companies in the State. With a dedicated leasing team and over 18 years’ experience in apartment management, the company manages over 600 apartments at any one time.
M/Property Senior Property Manager, Tammy Smith, says that even though the vacancy rate is low in WA, Perth apartment investors can still miss out on valuable and quality tenancies simply by not understanding what is important to the renter.
“We are experiencing a market shift in Western Australia towards long-term renting as a lifestyle choice. This represents an incredible opportunity for property investors,” she said.
“Unlike conventional homes where size and space are often the important factor, when it comes to apartments, location, presentation and flexibility are paramount to both the existing and emerging apartment rental market.”
Tammy says apartments close to community infrastructure, those with access to great facilities and ones outlooks tend to get snapped up, there are a range of other factors that a property investor can control to attract and retain great tenants.
- Sell the dream with professional photography
Rental properties traditionally don’t get the same promotional treatment as homes available for sale. However, in a competitive market, owners will get more interest and potentially higher rentals if they ‘sell the dream’ with professional photography during the marketing phase.
- Add value with furniture
While not for everyone, adding a furniture package to the mix can significantly increase the rental return. A well-furnished apartment can rent out for 25%-75% more than unfurnished apartments. The cost of furniture is also often tax deductable.
- Be flexible with pets
Pet-friendly apartments are increasing in demand as more renters opt for making their apartment a long-term home. In fact, many States across Australia are changing legislation to make it easier for pet ownership in rental properties. Why not get ahead of the game to lock good tenants in early.
- Engage an approachable team
There is nothing more off-putting to a renter than being made to feel like a second-rate citizen. Ensure your property management team are approachable and responsive to not only the renters’ concerns, but also yours.
Tammy says a property management team with a sound knowledge of strata management is also imperative for apartment investors, together with a good relationship with building/facility managers and a solid database of good tenants to source the best tenant for the apartment.
For more information on M/Property services visit www.mproperty.com.au.
Titles Arrive for Large Lot Wellard Estate
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Titles Arrive for Large Lot Wellard Estate
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.
M Group
Signed Proof Backs Market Improvement
Amidst the flurry of market projections and crystal ball predictions, boutique land developer Monument, part of M/Group, is celebrating ‘signed proof’ that a significant upswing in the market is now occurring – and the forecast for land buyers looks even better.
In a period that has been clouded by negative commentary, the company has successfully pre-sold 50% of its first land release at the Atop at Beeliar estate, procuring signed contracts even prior to titles being issued.
Director of land at M/Group, Mr John Wroth, said such a positive result of pre-selling off-the-plan lots has been virtually unheard of over the past three years, where sales were almost always attributed to titled land. He said while there is no doubt the boutique and limited nature of land at Atop has contributed to the sales, a range of external factors continue to have a positive impact on the market.
“Since the Federal Election, there has been a notable increase in enquiries across all our projects. This level of activity has also been reported by other developers, but all market indicators are just hearsay until there is concrete proof of sales,” he said.
“At Monument, June was recorded as an extremely strong month in terms of enquiries and sales and July is shaping up to be even stronger. The significance of having signed unconditional contracts on the table before titles confirms that there is renewed confidence in the market and property buyers are feeling confident to invest.”
Record low interest rates, recent tax cuts, First Home Buyer Grant incentives and relaxed lending rules also provide for a solid platform for investment.
Mr Wroth believes that a stronger and more vigorous property market will greatly impact land buying options, with increased quality and quantity of land available.
“The market slowdown certainly reduced the production of new land, with some developers opting to pull back on construction altogether. We are now able to progress construction of future stages and features that really set the estates apart,” he said.
“As a boutique developer, we predicted the possibility that any surplus of land would ultimately run dry in a slow market. We had the capacity to invest in continued construction at Atop so that when the tide turned, we would have ‘ready to build’ land available and packaged with stunning landscaping and ocean views.
“With the completion of construction on Stage 1, we are well placed to meet what is inevitably going be increased market demand.”
“Atop has been meticulously designed around the site’s existing typography. This includes majestic Tuart Trees retained at its highest point along with nature play areas for ‘discovery play’ and meandering walking trails with nesting hollows set aside for the area’s wildlife. It is also a quick walk to Beeliar Village with supermarkets, specialty services, restaurants and cafes, as well as close to the local primary and high schools,” Mr Wroth continued.
“Being first to market was not our only strategy to attract attention when the market shifts, we also wanted to create a unique statement for buyers. Atop at Beeliar is certainly that place and we are looking forward to ongoing interest as the market continues to return.”
Atop offers stunning ocean views and stretches across 11.8 hectares. It includes 171 homesites with varying lot sizes from 217sq.m to 630sq.m. This includes a mix of ocean and parkland view options with natural land undulation that provides character in lot levels.
The recently completed first stage of development includes 37 titled lots from 217sq.m to 494sq.m priced from $199,000.
To register your interest for any of the above opportunities, visit www.atopbeeliar.com.au or call Damyn Strang 0434 070 654.