Exciting First Steps for Young Families

M Group

City Resolves to Sell Land for New 400-Home Residential Development

M / Group

18 January 2024

The City of Kalgoorlie-Boulder is progressing with the sale of land to M/Group for their proposed new $158 million residential housing development in Kalgoorlie-Boulder.

Following Council’s Ordinary Council Meeting resolution on 24 April and the subsequent public notice period, Chief Executive Officer Andrew Brien, and Mayor John Bowler on behalf of the City signed and executed an option agreement with M/Group to sell the City owned freehold land to M/Group for the market value of $3,409,540.

Integrated property group M/Group is proposing to build a 400-home residential development in a staged three-year development on 17.2-ha site – Lots 9003, 9004, and 9005 Hart Kerspien Drive.

Mayor John Bowler said M/Group’s proposal strongly aligns with the City’s strategic objectives to make land available for residential development, target population growth, and enhance liveability in Kalgoorlie-Boulder.

“The City is proud to have made land available for development, and we are looking forward to this high-quality residential development coming to Kalgoorlie-Boulder.”

“Housing residential workers is always a priority for the City and given the current accommodation shortage, exploring options for housing development and investment is imperative to ensuring a strong local workforce for the future.”

“The residential lifestyle village model similar to that proposed by M/Group has been used at Osprey Village in Karratha to provide affordable housing and accommodation and could see housing developed and available on the site in a staged format within 12-18 months.”

“The development supports a family-friendly community for essential workers and their families to call home, and in turn supports the economic growth of our city.”

Mayor Bowler also confirmed the proposed development aligns with the residential housing shortage evidenced in the recent Land and Housing Position Paper, which the City partnered with the Kalgoorlie-Boulder Chamber of Commerce and Industry and other key organisations to produce.

The position paper confirmed a future need of approximately 410 dwellings per annum to support a residential population growth of 3.1% and major project investment signaled over the next decade.

M/Group Managing Director Lloyd Clark said it was exciting to be able to bring such a high quality residential development to Kalgoorlie-Boulder.

“Our lifestyle village will consist of one, two, three, and four-bedroom homes in a modern, family-friendly community. It will feature significant landscaping and public open spaces and is designed to integrate with and add to the amenity of the surrounding area.”

“M/Group has a strong track record of providing high-quality residential development, and we are thrilled to be able to help meet housing demand in Kalgoorlie-Boulder.”

M/Group estimates their spend on the project to be approximately $152 million, of which it estimates half would be spent locally in Kalgoorlie-Boulder.

Economic modelling shows the total output including all direct, supply-chain, and consumption effects, is estimated to increase by up to $126 million. The project is also expected to support 100 jobs in the first year and over 80 in each of the subsequent second and third years.

To further support the proposed development the City has submitted a $4 million funding application to the WA State Government’s Infrastructure Development Fund to assist with the required sewerage network expansion.

The City owned and operated sewerage network is currently at capacity due to continuing growth in the region, and without expansion works the proposed residential development will not be able to proceed.

An expansion of the City’s sewerage network is estimated to cost $5.6 million, with the application for funding being in addition to a proposed $1.6 million co-contribution by M/Group and the City.

The City’s application is for stream three of the Infrastructure Development Fund Unlocking Regional Worker Accommodation Opportunities. This fund aims to remove infrastructure constraints for residential housing development and assist with the provision of housing for key workers in regional towns.

Mayor Bowler said at present, infrastructure servicing costs in regional Western Australia are a major constraint for greenfield sites, and without funding support, projects that need significant new infrastructure are not financially viable.

“If the application for funding is successful the sewerage system expansion would also allow future residential development to occur on an additional 49.7ha of nearby land.”

Construction of the sewerage expansion is estimated to be complete within 8-10 months of commencement, with M/Group advising housing could be developed and available in a staged format within 12 months of securing the land.

M/Group is already seeking expressions of interest from parties who may wish to purchase or rent a property in the new residential development.

Standard City development application notifications, applications, and approval processes will apply prior to works commencing, this may include further public consultation as per development legislation requirements.

Read the full article here.

Scroll for more content

M Group

Exciting First Steps for Young Families

Monument

19 June 2021

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.

City Resolves to Sell Land for New 400-Home Residential Development

M/Group to Develop and Hold Third Quest Apartment Hotel

Amara Pre-Sales Officially Launched

South Western Highway Development Update

Geraldton Large Format Centre Reaches Completion

M/Group Launches Investment on South Western Highway

Parry Street Fund delivers 15% per annum to Investors

Start Typing to search M/Group