A brand new opportunity to invest in an income asset fund and partner with M/Group in the acquisition of a newly constructed, fully leased, large format retail property.
Learn more about how this property and its tenants will service their community, while providing investors with a target distribution of 8% p.a paid monthly by visiting: www.boulderpropertytrust.com.au
Exciting First Steps for Young FamiliesRead more
While nothing might be as exciting as a baby’s first steps, when a child’s early milestones coincide with the security of your own home in a supported family-friendly community, there really is cause for celebration.
The Wedge Wellard is becoming a haven for young families and first home buyers who have successfully escaped rising rent rates to secure their own home.
The growing community is located on the doorstep of natural bushland and next door to a private primary and high school. Its parks and playgrounds have already created a welcoming hub for playdates and get-togethers, and a childcare centre is scheduled for completion at the end of this year.
Director of Monument parent company M/Group, Mr John Wroth, said the estate has everything a young family could need and is providing affordable home options at a time when rental prices and availability are putting huge pressures on our community.
“Perth is undoubtedly in a housing crisis and first-home-buyers are amongst the most disadvantaged. Many developers have continued to focus on moving larger lots in the peaking market and too many renters are facing price increases or eviction.” he said.
“Despite the soaring market conditions, we are not only holding our prices, but creating product that will help create house and land packages for under $300,000 – getting families out of the rental cycle and into a growing community.”
The Wedge Wellard estate is half-way complete with Stage 1 sold out and around 70% of land in subsequent releases snapped up.
Stage 4 is the estate’s newest release and has been specifically designed for families and first home buyers to get a foothold in the market.
“Our new release gives owners the added advantage of being located within walking distance to everything. It screams value at a time when affordable housing is extremely thin and interest rates historically low,” Mr Wroth continued.
“We are one of the only developers providing low-cost packages so close to Perth, so it presents an amazing opportunity for first home buyers to get in on the property ladder, which could mean enormous relief to young families.”
Stage 4 incorporates a range of strategically designed ‘skinny’ lots priced from $130,000. The land will accommodate a 3-bedroom x 2-bathroom home, with house and land packages earmarked to be priced as low as $295,000.
“We are so thrilled to see so many families now settled into The Wedge at Wellard and enjoying this very special place. We know that anyone who visits the estate will fall in love with the prospect of joining them,” Mr Wroth continued.
“We very much look forward to welcoming our new group of residents.”
Lot sizes range from 188m2 to 537m2 and titles are expected by August 2021.
For more information visit www.thewedgewellard.com.au or call Damyn Strang on 0434 070 654.
Heritage Wool Store a Chance for Unique Commercial Creation in FremantleRead more
Once the nerve centre of Fremantle’s wool industry, this landmark heritage warehouse provides a blank commercial canvas and opportunity to create the next chapter of history.
Redeveloped by M/Group as Heirloom by Match in 2016, the former Dalgety Wool Store has been transformed into a New York-style industrial warehouse with 183 completed residential apartments and a dual-use commercial space, which has been listed for sale at $1.6 million.
The commercial site, which has been pitched as a café, restaurant or wine bar, offers 260sqm on the ground, with a soaring six metre ceiling height creating potential for additional floor space with a creative mezzanine or extra floor.
Largely unused for two decades, the Dalgety Wool Store has stood as a significant icon in the port city’s streetscape for almost 100 years.
It was originally part of a group of wool stores that occupied the entire street block and is now the only remaining one adjacent Fremantle Harbour.
Monumental in scale and form, the property was built in 1923 to cater for WA’s burgeoning wool industry from the end of World War I until the late 20th century, and was commandeered by the US Navy 7th Fleet as part of the combined allied World War II effort.
M/Group director Lloyd Clark said the $130 million Heirloom redevelopment had leveraged the existing structure to create a unique warehouse conversion.
Mr Clark said while the listing at 184/51 Beach Street had been positioned as a commercial enterprise, the dual zoning also fostered the prospect of a residential conversion.
“This particular listing…has created interest around the endless possibilities for a custom fit-out whilst designed around the exposed feature heritage red-brick, the 100-year-old jarrah columns and the exposed timber ceiling,” Mr Clark said.
“The space boasting 100 years of genuine Fremantle history lends itself to use as a café, restaurant, gallery, wine-bar or even a funky office. As the space is a shell, a complete custom fit out is available for the buyer.”
Mr Clark said the redevelopment paid homage to the building’s history.
“It was a goal to retain as many of the heritage elements as possible throughout the building and this was achieved by keeping or re-using over 85% of the original heritage fabric,” he said.
“New York-style conversions have become popular in recent years especially when considering living and/or working in a genuine warehouse environment, a limited prospect in Australia when compared to overseas.
“Developers had previously been hesitant to touch historic fabric due to the risks and unforeseen costs compared to the low cost, high profit ‘cookie-cutter’ buildings that were materialising across the city.”
Design experts say heritage renewals have long been popular for businesses and commercial enterprises, but required an astute architect with foresight and respect for the history of the property.
Nedlands architect Suzanne Hunt said there was a sense of romanticism associated with refurbishing historical buildings, despite the obvious constraints of working within heritage protections.
“There’s a romance about it,” Ms Hunt said. “People just love heritage buildings.”
“If you go into a heritage building that has been refurbished well by an architect, you have this wonderful feeling of history. There is this wonderful layering of history, the old and the new, and I think that gives a lot of opportunities for different types of design that has more of a depth of design in it.”
“Heritage buildings give character and it doesn’t matter what purpose or business you’re putting in there, you’ve got this wonderful sense that the building is old, it has its own history and you’re just making more history.”
Ms Hunt said refurbishing heritage buildings was possible while remaining cognisant of the heritage listing and ensuring respect for the old fabric.
“If you’re putting a refurb or buying a heritage building, there’s a fallacy that you can’t do anything. That’s actually not true,” she said.
“Good heritage design is saying we’re going to respect the old building and we’re going to put something contemporary…If you understand the history of the building, you can reinterpret that history in a contemporary way through your design.”
By Nicole Cox, realcommercial.com.au, 3 June 2021
Heirloom Takes Home Another WinRead more
Boutique apartment company, Match, was honoured to take home its third Heritage Award for its work in transforming Fremantle’s iconic Dalgety Wool Stores into unique residential industrial warehouse apartments.
WA Apartment Advocacy hosted the 2021 WINconnect Apartment Awards for Excellence over the weekend celebrating those who have played an instrumental role in introducing Perth to the idea of design and amenity-led urban living through apartment development.
Heirloom by Match is one of the largest heritage renewals in the State, and award judges acknowledged “…Match demonstrated fearlessness and innovation in transforming this heritage building into an exemplar of what the City of Fremantle can expect from future developments of a similar ilk.”
The site had sat largely unused for 20 years prior to completion in 2016 and now with all apartments occupied the judges said the project is “…a charming apartment community that pays tribute to its heritage roots.”
Managing Director of parent company M/Group, Mr Lloyd Clark said the awards are a great honour to be recognised and acknowledged by the industry and peers.
“Drawing on our experience with heritage renewals, we knew from the outset that this project would present challenges, however we also saw it as an extremely important opportunity.
“Match is in the business of developing signature properties. It is our firm belief that people want more from their homes, and today Heirloom residents are creating their own space amidst 100 year old Jarrah beams and original heritage features,” he said.
Heirloom by Match was designed by Dominic Snellgrove of Cameron Chisholm Nicol and constructed by national top tier construction company, Built. The development team worked in collaboration with the City of Fremantle, State Government and heritage authorities to achieve a positive outcome.
“Heirloom is unquestionably one of Match’s most significant development projects in the company’s 20 year history. Its location close to Fremantle’s café strip and between the river and the beach is ideal, and it has helped to activate the City of Fremantle and its growth” Mr Clark continued.
“The renewal process was sensitive in nature and proved extremely complex. However, the recognition and accolades we have received are both humbling and extremely rewarding.”
Match had previously been awarded the Heritage Council’s ‘Conservation or Adaptive Reuse of a State Registered Place’, and the prestigious Gerry Gauntlett Award; recognising an outstanding achievement of adaptive reuse in Western Australia for the Heirloom Apartments in 2017. Match was also recognised with the Gerry Gauntlett Award prior to this in 2008 for its highly acclaimed Home warehouse apartments located in Perth CBD and is responsible for other heritage-listed projects such as Maymont in Maylands and Clocktower in Inglewood, which effectively injected new life into the area, as well as a range of cutting-edge design-inspired apartment properties throughout Perth.
For more information visit www.heirloombymatch.com.au or contact 0432 660 066
Playground Completed | The Wedge, Wellard NorthRead more
The Wedge at Wellard North is coming to life!
We have construction of new stages, homes being built, people moving in and have just completed the landscaped park and playground all with the stunning and protected bushland backdrop as you can see in this video.
Bunnings Warehouse Albany | Construction Completed December 2020Read more
There was a period in Perth where development and redevelopment were so fast paced that many valuable heritage properties were left so decrepit that they would ultimately be sanctioned for demolition.
Developers were hesitant to touch historic fabric due to the risks and unforeseen costs compared to the low cost, high profit ‘cookie-cutter’ buildings that were materialising across the City.
Match was born in the thick of this era. We were young and passionate about saving Perth streetscapes from bland, investor-driven apartment buildings. We wanted to build a legacy of design-centric projects that would bring interest and diversity to the landscape.
Adopting heritage rejuvenations into our portfolio was a natural fit and relatively easy to acquire based on the lack of industry interest.
Match became a trailblazer for heritage renewal projects in Perth and our work in this area today extends to property designs that pay homage to the site’s former use or the significance of the location, such as M/24 by Match in Leederville, Metropolitan in Mount Lawley, Sublime in North Fremantle and Johnson & James in Guildford.
A brief overview of Match’s heritage projects:
Corner of Milligan & Murray Streets, Perth
HOME still stands as one of Perth’s most impressive heritage renewals and a turning point that triggered many more heritage restoration projects throughout WA.
The 1927 warehouse building was introduced by the tobacco giant, W.D. & H.O. Wills and originally designed by local architects Oldham, Boas & Ednie-Brown; a firm reputed for over specifying to achieve design quality. It was constructed with reinforced concrete behind a beautiful facade, it is an excellent example of ‘Interwar Chicago-esque’ architecture featuring decorative mushroom columns unique to the era.
Match transformed this landmark site into 30 warehouse apartments, 37 adjoining terrace apartments and boutique commercial space, retaining some 95% of original heritage fabric, including a unique structural system that introduced the first mushroom headed slab on large diameter concrete columns constructed in Perth.
919 Beaufort Street, Inglewood
The Clocktower was originally built in 1936 in an architectural style known as ‘Inter-War Art Deco’. It was later used as the Civic Theatre Restaurant before being left largely unoccupied for many years.
The highly sensitive heritage rejuvenation project effectively transformed a local landmark into a boutique complex incorporating 28 apartments and four retail shops.
Specialist work was also required to locate a clock expert with the correct credentials to resurrect the signature clock, which was restarted in February 2008
Corner of Whatley Crescent and Eighth Avenue, Maylands
Maymont represents a major milestone for Maylands on a site that had been left decrepit for some time. The vision was to create a heart for the area and drive the inner-city culture to the area’s main strip, with architecture reminiscent of its hey-day in the 1920s. While much of the building’s structure could not be preserved due to many years of neglect, Match restored the heritage façades and introduced 42 apartments and 16 commercial spaces. The restoration program would be the start of the beautification process for Maylands, creating what is a today a hub of cafes, restaurants and bars.
36 Queen Victoria Street, Fremantle
Unquestionably one of Perth’s most significant heritage renewal projects in modern times, Heirloom is the award-winning heritage restoration of Fremantle’s iconic old Dalgety Woolstores, which sat largely unused for some 20 years.
The prominent structure located on Fremantle Harbour created a high-profile gateway to the City along Queen Victoria Street. It holds an important place in the City’s history and is most famous for its saw-tooth roof, classic red brickwork and 100-year old Jarrah beams.
The $130 million redevelopment leveraged the existing structure to create 183 spacious one and two-bedroom warehouse apartments, retaining over 85% of the original heritage fabric.
What were the key factors that drew you to these properties?
As a boutique apartment developer, Match works on the premise that the long-term investment value of a property is determined by its uniqueness and limited supply.
The simple fact is that you cannot manufacture heritage fabric and people will pay a premium for being able to acquire something distinctive and irreplaceable.
Location is, of course, always a factor, and when combined with a depth of character and history, we strongly believe these projects are worth the investment.
There was some time that developers wouldn’t go near heritage buildings because of all of the conditions surrounding it – what changed and did this influence your appetite for heritage?
In a development era that could be easily defined by its lack of sensitivity to good design and the legacy this would have on Perth’s streetscapes, there was certainly a case for ‘testing the water’.
It was new territory for most developers and, as a young company on a mission to disrupt the status quo, we took on highly ambitious heritage projects and were able to demonstrate both demand and return on investment.
Our success was supported by global shifts towards apartment living and a number of high-profile warehouse renewals around the world. Buyers were starting to view apartments as a lifestyle choice and developers needed to meet this market with unique and appealing propositions.
As a developer, what are the benefits and what are the challenges of developing heritage properties?
It is truly humbling and often breathtaking to see heritage fabric restored and repurposed for 21st century use.
The architectural values and depth of character inherent in these properties are timeless and, quite frankly, magnificent. Many discoveries can be made throughout the construction process that can add to the building’s story, such as an original wool-bale hoist and a railway track uncovered in the basement of Heirloom.
However, any adaptation of a retained building needs to satisfy current codes, modern facilities and environmental standards. This sometimes presents challenges for our architects to accommodate such requirements without compromising the usability, functionality, originality or attractiveness of the property.
At the Home building, our architects needed to work around enormous mushroom headed columns, and Heirloom, where services were ultimately hidden in a false flooring structure so that the Jarrah roofing and original beams could be exposed.
Are heritage projects more attractive for buyers?
Our experience is that the market is attracted to high quality, unique and boutique product which is much more enduring than that of high density, standardised developments.
Well executed heritage renewals elicit an emotional response and sense of connection that is so important in property sales. We find that people are really excited about owning an apartment that has heritage features that cannot be duplicated.
This was evidenced in the early release of Heirloom ‘off-the-plan’ apartments, which exceeded rigorous sales targets with over 70% of apartments selling prior to the commencement of construction.
There will always be a market that values heritage product over anything else.