As reported by Dan Wilkie in Business News today, 19 December 2016.

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Fremantle has a new Heirloom, following the completion of a monumental heritage rejuvenation project that was undertaken by boutique property company Match, together with joint-venture capital partner Sirona Capital, to transform the iconic and heritage significant Dalgety Wool Stores along Queen Victoria Street into Western Australia’s largest residential heritage renewal of its kind.

The opportunity to develop the 94-year old, three-storey structure into New York-style industrial warehouse apartments was identified by Match in 2007, following a string of successful and celebrated heritage renewal projects introduced by the company, including Home in Perth, Maymont in Maylands and The Clocktower in Inglewood.

Mr Lloyd Clark, Managing Director of Match parent company M/Group, said the “Heirloom” project was incredibly challenging but was just too important to Perth not to pursue.

“Match entered the Perth market in a period where apartment living was only starting to be recognised as a genuine lifestyle choice and people were only beginning to seek out signature residences as opposed to large-scale ‘cookie-cutter’ environments,” he said.

“The company’s propensity to take brave steps in development worked hand in hand with its mission to save Perth streetscapes from excessive repetitive structures. We grew a fascination for identifying and salvaging what we considered to be some of the City’s most treasured heritage buildings. We knew the risks involved in tackling these projects, but saw it as an opportunity and didn’t want to see amazing architecture be left derelict and eventually deteriorate, as is often the case. The Dalgety Wool Stores definitely fell into this category and its completion is without question our biggest achievement in the company’s 15 years history.”

The heritage listed Dalgety Wool Stores was originally designed in 1922 and constructed in 1923. The building received a single storey extension along Beach Street in 1942, with a three-storey structure and extension to raise the entire floor level in 1944. This included the infamous saw tooth roof structure, which has been restored in the heritage renewal process. The building was subject to some additional works leading up to the completion of the main structure and sunroof in 1950-52.

To support Match’s $68million refurbishment, Sirona Capital was invited to join the endeavor as joint-venture capital partner in 2014 and the project emerged as a key development in the City of Fremantle’s $1billion investment plan that would open activity onto Beach Street and extend the City’s life-centre along its gateway.

Sirona Capital’s managing director Matthew McNeilly said the partnership with Match had delivered an outstanding residential development that was both unique to Fremantle and in keeping with the city’s character and history.

The Heirloom renewal retains much of the building’s original historic features, such as the century-old jarrah beams, brickwork and the infamous saw tooth roof structure. An original wool press has been restored and is displayed as an instalment, and homage is payed to the building’s importance to the wool trade in murals and artworks throughout.

The new apartments vary in size and configuration with a starting price of $495,000. The residential complex is already 80% sold out with sales expected to escalate now that people can see the end product.

“Heritage fabric is invaluable and sales have reflected the fact that these apartments cannot be replicated. This translates into specialised boutique product that can often withstand varying market conditions because demand is isolated,” Mr Clark said.

“Heirloom has been a mammoth undertaking and we consider it a highly successful restoration of a magnificent building that frankly deserves a new life.”

The Heirloom renewal is designed by project Architect, Dominic Snellgrove from Cameron Chisholm Nicol, who is a recognised Australian leader in integrated architectural and recipient of Australia’s most prestigious architectural award, the AIA Sir Zelman Cowen Award for Public Architecture. It was constructed by top tier-tier construction company, Built, which has worked on some of the country’s most high profile heritage projects, including the Old Treasury Buildings (WA), QT Sydney (NSW), Queen Victoria Building refurbishment (NSW), Art Gallery of NSW (NSW), and the Melbourne GPO and H&M flagship store (Vic).

Heirloom will be officially opened in the coming weeks with residents expected to move in in early January 2017.

Another famous Fremantle heritage property is to be reborn with the release of 40 boutique apartments surrounding the original Fremantle Power Station building at the former Fremantle electricity substation in Parry Street.

M/27 is a concept development by boutique property company Match, that includes a mix of one, two and three bedroom apartments located at the rear of a large 2,800sq.m historic site.

The apartments are strategically positioned to create an intimate setting for residents, and designed as a complementary backdrop to the renewed heritage centerpiece, which will be transformed into a trendy ‘Bread & Common’ style food and beverage venue, and accessible from the apartments via a private cobble landscaped laneway.

Managing Director M/Group, Match’s parent company, Mr Lloyd Clark, believes the development screams lifestyle and investment.

“This is a beautiful location set amongst an intensely character-filled environment. It includes north facing apartments with views over a large reserve, and others overlooking the heritage fabric and Fremantle vista,” he said.

“The Fremantle electricity substation is one of the City’s most significant heritage properties and it is made even more attractive to residents with the prospect of a popular food and beverage venue at their doorstep. This concept development will introduce a touch of Melbourne urbane to a heritage inspired setting and is likely to appeal to owner-occupiers and investors alike.”

The boutique, heritage and unique nature of the M/27 apartments represent a limited supply and good capital growth potential, in contrast to large-scale ‘cookie-cutter’ apartment projects. It was designed by the award winning Cameron Chisholm Nichol (CCN) Architects, who are also behind Match’s neighbouring Heirloom development of the Dalgety Woolstores.

“The City of Fremantle has earmarked this area as a key pathway for expanding the City’s character and energy into its eastern gateway. It will create an living environment unlike any other in the area and emerge as an important part of the central Fremantle hub,” Mr Clark continued.

M/27 is priced from $450,000 for one-bedroom apartments and $550,000 for two-bedroom apartments.

For more information contact visit www.itsamatch.com.au or contact Chris on 0432 660 066.

Western Australia Property Company, M/Group is playing a new hand to secure syndicate investors, following a number of consecutive oversubscribed property funds released over the last two years.

The Darling Ridge Shopping Centre is an established income producing entity, with national brands such as IGA, Caltex, Liquorland, Subway, Dominos and Brumby.

With an estimated investor return of some 8% in the first year and minimum investment of just $20,000, this low risk, low entry proposition is packaged to appeal to the Self Managed Super Fund (SMSF) and mum and dad investors.

M/Group Managing Director, Mr Lloyd Clark, says security is paramount to this market and sourcing high yield product has been an increasing focus for the organisation.

“We are at a stage of the property cycle where investors err on the side of caution and are looking for opportunities with a sound track record and healthy returns,” he said.

“While M/Group has had notable success with the release of its apartment development funds, we recognise a market shift is imminent and likely to continue with increased interest in income producing investments.”

M/Group initially entered the asset funds market in 2013 with the acquisition of the strategically located Officeworks building in Western Australia’s south west city of Bunbury. The asset incorporated a blue-chip tenant, long lease and high forecast returns. The fund was fully subscribed within just weeks of its release, which spurred the appointment of James Collis as Director of the group’s asset fund company.

“The Darling Ridge Shopping Centre represents the first of several income producing opportunities we have been working on, where the company’s propensity for great design and strategic development locations is replaced by solid tenancies and measurable returns,” Mr Collis said.

“This is an excellent proposition for the SMSF. It also enables M/Group to work with investors across a number of opportunities.”

The Darling Ridge Shopping Centre is located at 309 Morrison Road Swan View in Western Australia. The Fund will own a single property and is not diversified by investment class, geographic location or exposure to different property sectors.

It incorporates a fully leased neighbourhood shopping centre with long-term, blue chip tenants occupying 76% of the property.

“We have set the low minimum investment of $20,000 to attract smaller investors and support portfolio diversification. It has been designed for today’s market conditions and I do believe the appeal will be significant.”

Settlement date for the property is scheduled for 21 September 2016, with fund distributions monthly.

For more information visit www.mgroup.com.au/investments/darlingridge or email incomefunds@mgroup.com.au.

Boutique property company, Match, is breathing new life into some of Fremantle’s most beautiful and significant heritage buildings, while helping to expand the character and activity within the City’s eastern gateway.

The heritage rejuvenation of the Dalgety Woolstores, Heirloom, and former Fremantle Substation, M/27, are central to a new heritage precinct planned for the area.

While Heirloom towers along Queen Victoria Street to create a grand entrance to the City, Parry Street is a boutique ‘village’ environment that incorporates heritage sympathetic apartments surrounding a central ‘Bread in Common’ style food and beverage facility located within the original PowerStation building.

Mr Lloyd Clark from M/Group, parent company of Match, believes both projects are extremely important to the fabric of Fremantle.

“The City of Fremantle recognises the importance of nurturing Fremantle’s unique character, and ensuring its heritage properties are protected is a big part of this,” he said.

“The City has some $1billion of planned investment in the pipeline and, as a company that made its mark in WA from successful heritage renewals, we are really excited to be part of the changing Fremantle landscape.”

Both Heirloom and M/27 are designed by project Architect Dominic Snellgrove from Cameron Chisholm Nicol (CCN), who is a recognised Australian leader in integrated architecture.

Heirloom comprises of one and two bedroom New York-style warehouse apartments; all developed using original roof space and strategically designed dividing walls, with high ceilings and exposed century old wooden beams.

M/27 includes one, two and three bedroom apartments within a private landscaped setting with views over the Fremantle skyline or north facing over recreational space.

“Heritage fabric cannot be recreated or duplicated. This means that our apartments represent a limited supply and, as such, offer inherent value that is likely to stand the test of time in contrast to other ‘cookie-cutter’ environments,” he said.

“The market appeal for these apartments is evident in our Heirloom renewal, which is now 80% sold out, together with a number of successful heritage projects Match has been involved with over 15 years in the sector. Fremantle is a special place and we are confident these projects will emerge as City icons.”

One-bedroom apartments in Heirloom start from $495,000, with two-bedroom loft apartments priced from $695,000, while one-bedroom apartments in M/27 start at $450,000.

For more information visit www.heirloombymatch.com.au or contact Chris on 0432 660 066.