In a landmark decision by the City of Fremantle, a design innovation introduced by boutique property company, Match, will enable four street frontage studio apartments to be used for either residential or retail/commercial purposes within the recently completed Sublime apartment complex.

Sublime is a mixed-use concept development located on Lime Street in the heart of North Fremantle. It is walking distance to the North Fremantle train station, Leighton Beach and Swan River, as well as metres from the cliffs of ‘Rocky Bay’.

The development sold over 80% of the one and two bedroom apartments prior to completion just weeks ago, with the four remaining dual-use studios held back from the market pending approval from the City of Fremantle.

Mr Lloyd Clark, Managing Director of Match parent company, M/Group, said the City’s approval of this new zoning is significant, and will provide property owners with the flexibility to follow property market trends or lifestyle preferences.

“The decision to allow for dual usage in the Sublime studio apartments is a planning first and will introduce a level of investment security that has never been possible before,” Mr Clark said.

“This opportunity has only been achieved by the introduction of an innovative ‘loose fit’ design installation that can easily allow for conversion from a studio apartment to a shop and back with little intervention. It is of enormous significance to investors or first home-buyers looking to live in a prime location with future prospects.”

Sublime is designed by award-winning Architect, David Barr of David Barr Architect, in collaboration with Oldfield Knott Architects. The structure creates a striking streetscape statement with oversized balconies and vivid red sunscreens, intensified against a neutral colour scheme. The building takes on a modernist industrial feel, with a colour palette inspired by the neighbouring ‘Dingo’ flourmill.

Internally, the studio apartments are understated with clean white interiors, cabinetry, walls and stone bench tops.  All apartments are fitted with Bosch appliances and Rogerseller tapware

Architect David Barr believes the duel function tenancies provide an affordable opportunity for people looking to live, invest or establish businesses in North Fremantle.

“The studios are designed to deal with the constraints of a modest scale, through the use of borrowed internal space for cooking, living and outdoor entertaining. Two large translucent sliding screens are strategically placed to open up and incorporate the courtyard space providing an expanded sense and function of space. When closed, the screens provide privacy and light within the living room. Each apartment also contains cleverly located storage that functions as both storage and division of space between bedroom and living zone. The units are unique and very efficient,” he said

“The studios are incredibly well located in North Fremantle, 200m from the river, 300m from the Indian Ocean, 400m to the Fremantle / Perth train line and less than one kilometre to the North Fremantle strip.”

The Sublime studio apartments are sized at 55sq.m and with the capacity for disability compliance bathrooms that support residential or commercial usage such as shops, cafes or offices.

They are attractively priced from $375,000 and scheduled for release in late February.

For more information or to submit an Expression of Interest prior to release, contact us on 0432 660 066 or info@itsamatch.com.au

Comments by Managing Director of M/Group, Lloyd Clark

How are sales progressing at Heirloom?

Heirloom exceeded rigorous sales targets earlier in the year with over 70% of apartments selling ‘Off-the-plan’ prior to the commencement of construction.

People have been really excited about the potential  of owning an apartment with unique heritage features that cannot be duplicated, add to that being located in the heart of Fremantle, sales have been unsurprisingly high ever since.

Currently, almost all of the project’s standard one and two bedroom apartments have sold out, and we are now promoting specialty product that we have just released, such as our lofts warehouse apartments with views across the Fremantle Harbour and ocean or into the light-filled atrium with saw tooth roof structure.

How does Heirloom offer buyers coastal living?

It simply doesn’t get more ‘coastal’ than Fremantle! Heirloom is located along the gateway of the City of Fremantle and on its most important Port. Life at Heirloom will give people extraordinary access to the Swan River, Fremantle Marina, not to mention some of Perth’s most beautiful beaches and beach reserves.

Throw in a bit of Fremantle urban character with its nightlife, cafes and restaurants, and you have one fantastic coastal living proposition.

Starting Prices?

We currently have a limited supply of one and two-bedroom apartments starting from $495,000 and $695,000 respectively. However, the Heirloom lofts, which are sized between 60sq.m and 130sq.m, range in price from $525,000.

Only a 10% deposit is required on purchase, with the balance due on completion of the apartment.

Expected completion date?

Heritage renewals are not like every build, they require a great deal of attention-to-detail and expertise. When construction commenced on Heirloom in July of this year, Match’s extensive experience in heritage renewal projects led us to the appointment of reputed national top-tier Construction Company, Built, to oversee the building process.

It’s so great to see all the scaffolding around the old warehouse and signature design pieces, such as the light-filled atrium, starting to come to life. We anticipate completion of the project in late 2016.

Number of apartments, configuration, design features, inclusions etc.

The Dalgety Woolstores provided an enormous space to house the diverse range of Heirloom apartments. The vast range of apartment designs stretch across an enormous space.

Within the mix, there are only 27 Loft apartments left, which comprise of top-floor split-level spaces with harbour and ocean views from the building’s harbourside.

The apartments have been designed to incorporate a blank canvas set against a backdrop of heritage features, with abundant natural light and high ceilings that stretch to 5.8metres high.

There is a raw character and ample space that could easily accommodate any decoration style and preference.

Lofts comprise a mix of two-bedroom, two-bathroom with mezzanine lofts and two-bedroom, two bathroom, study with mezzanine lofts.

Original heritage features include exposed brickwork, century old wooden beams and warehouse­-style framed windows.

Comments by Managing Director of M/Group, Lloyd Clark

Is supply outweighing demand?

There is and will continue to be strong demand for apartment product – this is evidenced by the global trend towards apartment living. What we are currently experiencing in the Perth market, however, is an emerging differentiator between high-density and boutique product.

Quite simply, not all apartment product is the same and the influx of off-shore developer interest and large-scale apartment approvals represent a completely different proposition to well-placed boutique product specifically designed for the local market.

The divide between these development styles will continue into the future with increased capital gain on unique and limited-supply product.

What the customer needs to be aware of is that?

Consumers need to be aware that most apartment developments must secure over 60% in pre- sales, which has the potential tie up a person’s investment that ultimately never gets off the ground.

This investment would be better served in a boutique product that will endure changing market conditions due to proximity to infrastructure and unique design. Never before has a developer’s credentials been more critical, as there are a lot of speculators in the marketplace at the moment and a good track record speaks for itself in the current market conditions.

Who are buying the apartments?

Match Apartments has always worked on a model of providing boutique product designed for the owner-occupier. As a result, however, we attract investors drawn to the same personalised attributes that will ultimately make the apartment attractive to investors.

What are key factors to being a successful development (location, affordability, developer’s track record, finishes, inclusions)?

While buyers certainly want to be close to amenities together with being within walking proximity to key community and city infrastructure, attractive streetscape and strategic coastal locations also play an important role. While price will always be a factor, the cheaper product often doesn’t represent long-term financial returns.

Can this level of apartment development keep going at this fast rate or will it stagnate?

There is unquestionably a structural change occurring in terms of accommodation, whereby more people are opting into apartment living and this is only going to continue to grow.

The reality is that the market has a way of leveling itself and, if people do not respond to product available on the market, it simply won’t get off the ground. The lesson for consumers is to stick

with reliable developers that build ‘living spaces’ rather than cookie-cutter investment product. Our apartments are testament to this.

A clear corporate footprint and better-articulated company framework are behind the introduction of the new M/Group structure.

Previously known as Match Group, the diversified property Group’s new identity aims to better define its vertically integrated business interests, communicate a substantial operational capacity in the property sector and reposition the company in the marketplace.

M/Group comprises of four operating business units, including established boutique apartment developer, Match, real estate and property management services, M/Property, construction firm, M/Construction and finance broking company, M/Finance. A new land division, M/Land, is planned for launch later in the year.

M/Group Managing Director, Mr. Lloyd Clark, says the new direction illustrates the Group’s diversity and reflects an organic growth that has taken place over 15 years.

“M/Group is today a diversified property company that was born from our boutique apartment development firm, Match. Over 15 years our growth has been somewhat of a natural progression. The business has always been about identifying key people and expertise to support an integrated service delivery,” he said.

“There is, however, an increasing need to separate each business unit and define our capacity. Our efforts in this regard are already creating a buzz in the sector as few had insight into how far we had come. Our objective now is to grow the business into a larger corporate enterprise.”

While M/Group’s development arm, Match, is positioned as a boutique company, in terms of its project pipeline on product delivery, the company is amongst Perth’s top developers, with M/Property introduced to accommodate the ongoing needs of property management and project marketing.

In just five years, M/Construction has grown to become a mid-tiered builder with 70% of its revenue deriving from third-party construction work.

Mr Clark said the scope for further expansion is significant and M/Group is currently exploring the prospect of growing its capital base and shifting its fund raising focus from project level to building corporate capital.

“Our capital base will merely determine the timeframe in which we achieve each milestone as we continue to take steps to grow the business further,” Mr. Clark continued.

“Our business model is sound and measured. It has secured consistent growth over 15 years and we believe we are well-poised for continued expansion.”

Leederville is set to have new icon architecture as early as December 2016, following the commencement of construction on the unique boutique mixed-use apartment development, M/24.

M/24 is located in Carr Street and is the latest inner city project by boutique apartment developer, Match. It was designed in collaboration with Melbourne Architect firm, ARM, and inspired by the site’s former occupant, the soft drink manufacturer that became an iconic brand through the 40’s, 50’s and 60’s, Golden West Aerated Water Company.

Match Managing Director, Mr. Lloyd Clark, said the market has really responded to the design, which is evident in rapid apartment sales that have exceeded all expectations.

“We really wanted to do something different to reflect the cutting edge environment, but also honor the area’s history,” Mr. Clark said.

“We engaged ARM to really challenge the design provisions and offer something iconic. The results are nothing short of fantastic, and have been welcomed by the community and buyers alike.”

M/24 comprises of only 39 one and two bedroom modern apartments behind a living façade of shapes and colours, designed to reflect aerated bubbles, accentuated  by a vertical garden.

The property’s courageous and striking facade features soft-drink inspired lattice screens that extend to the ground at the foyer entry, creating a sense of entering a bubble matrix, with

500 sq.m of shop space on the ground level.

In just a few months on the market, some 60% of apartments sold off the plan, together with 50% of the ground level retail space.

Mr. Clark said while the design creates a talking point from street level, the property provides a private oasis towards the rear.

“The mix of  one  and  two  bedroom  apartments  are configured  to  maximise  natural  light  and airflow through living areas and bedrooms.  The balconies and outdoor entertainment areas are all connected to both living spaces and bedrooms,” he said.

“While  ‘street-side’   apartments  benefit   from  abundant   northern   light  and  the  street   life atmosphere, the other side of the building facing Newcastle Street overlooks a linear communal area for a more private, quieter  hangout zone with views towards  the City skyline. It is a clever use of space that will no doubt appeal to potential residents, as well as honor the history of the site.”

Golden West Aerated Water Company was established around 1902 by Mr. J.J. Wallis and produced soft drinks of various kinds, such as ginger beer, lemonade and kola beer.

The M/24 apartments comprise of stylish interiors with quality fixtures and fittings, intentionally designed to create a blank canvas for residents to personalise and individualise.

M/24 is scheduled for completion in December 2016 with one-bedroom apartments starting from $450,000 and two bedroom apartments starting from $595,000.

For more information visit www.m24apartments.com or contact Chadd Boucher on 0432 660 066.