M/Group has announced plans to expand its land portfolio with the development of 148 premium residential lots on an 11.8ha site located in Beeliar within the growth corridor of Perth’s southern suburbs.

The release of the company’s Beeliar Development Trust seeks to raise $13.5 million to support the acquisition and development of the site. It follows a further $70 million raised in private equity for a range of investment products over the last 12 months, together with an unprecedented demonstration of success from its inaugural land development venture in Secret Harbour; achieving  85% in off-the-plan sales  in just over seven months for Stage 1.

M/Group Managing Director, Mr Lloyd Clark, said the Project Land at Beeliar is located high on a ridge and is to be developed to existing topography with the retention of mature trees.

“There are not many property companies in the market that have successfully raised as much in private equity in the last 12 months as that of M/Group. We believe this is due to the considered approach we take to each investment that effectively delivers a competitive edge to our projects and drives higher returns for investors,” he said.

“In the case of Beeliar, much of the site’s appeal is in its elevated topography framed by beautiful Tuart Trees. Our development plans therefore work with these factors to provide the market with something unique.”

The anticipated price range of the residential lots for the Beeliar site is from $315,000 for 350m2 and up to $345,000 for 582m2.  The projected financial return for private equity investors is 60% over a forecast 36-month investment period. It is forecasted that distributions will be paid on the basis of a 25% Internal Rate of Return.

M/Group is a diversified property company with a portfolio of property investments that today span across built form, land development and income generating property funds. Its approach to development, together with its success over its 16-year history, has attracted a strong investor following, with the last private equity fund attracting 90% return investors.

Director of M/Land, Mr John Wroth, says while the site is stunning and well located, the weight of the acquisition is underpinned by Western Australia’s continued and steady population growth as a result of improved resource prices, the low Australian dollar, continued oil and gas sector growth and, most significantly, the Government’s planned Cockburn Coast Redevelopment.

“Beeliar is strategically located along the Western Trade Coast, which will create over 11,000 jobs through a $2.3 billion Government injection into road and rail projects including Metronet,” he said.

“There is no question Beeliar’s location is highly desirable, close to beautiful beaches, Port Coogee Marina, schools, major shopping centres, hospitals and only 25 minutes from Perth CBD via freeway or train, but the Government’s commitment to develop some 3,900 hectares of land with industrial zones and an Australian Marine Complex, makes it a highly unique investment.”

M/Group is an approved Australian Financial Services Licensee (AFSL) working with both retail and wholesale investors.

For more information on the Beeliar Development Trust contact John Wroth on +618 9324 3855 visit www.mgroup.com.au.

As reported by Dan Wilkie in Business News today, 17 July 2017.

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An over-subscribed property syndicate with more than 90% repeat investors has enabled Perth-based property company, M/Group, to secure the acquisition of Wodonga Plaza in regional Victoria. It represents the M/Group’s second regionally located shopping centre acquisition from Vicinity Centres, and its first step into growing an asset portfolio in the eastern states.

M/Group was established in Western Australia over 15 years ago and has evolved into a diversified property company that offers investment opportunities across land, residential, construction and income producing assets.

M/Group Managing Director, Mr Lloyd Clark, says the company’s targeted approach to identifying regionally located assets with good lease covenants and value-add potential has attracted significant investment interest.

“Every company aspires to having a network of investors that trust what they do and how they do it. We are really excited to be taking this group of loyal and new investors into the eastern states,” he said.

“Rather than target fully leased assets at capped rates of 5% – 7%, our interest is in securing properties that not only offer excellent income but also present development, refurbishment or lease re-positioning potential with the aim of achieving capital uplift as well as delivering excellent cash flow income. It is a similar strategic and considered approach we take across all our property activities and historically we have delivered quality investments and good returns.”

Wodonga Plaza attracted a sale price of $43.5 million, of which (circa) $26 million was raised through investment; M/Group’s largest capital raising to date.

The sale closely followed the company’s acquisition of the Albany Brooks Garden Shopping Centre in Western Australia earlier this year. In just over six months, M/Group has accumulated (circa) $70 million under management in income producing funds that yield an average return of 10% plus significant potential for capital upside.

“Wodonga Plaza is a great opportunity in a great regional city that is the gateway to Victoria from NSW. It is currently and will continue to be the largest centre in the region and we have already secured a new 10-year lease with Best and Less with multiple other tenant negotiations underway,” Mr Clark continued.

M/Group’s investment model utilises its Australian Financial Service License to make new opportunities available to a broader market that may not traditionally have access to this investment class.

Wodonga Plaza sits on approximately 4.4ha on island site with 4 Street Frontages and gross lettable area is some 17,200 sqm. Key anchor tenants include Target and Coles, with three current mini majors Amcal, Reject Shop and Best and Less, and around 55 specialties stores.

M/Group targets tenanted assets Australia-wide with a value proposition of around $10million to $50million. The success of this recent syndicate has fast tracked the release of its next syndicate where a similar response is expected.

For more information contact James Collis on 08 9324 3855 or visit www.mgroup.com.au/investments.

Boutique apartment company, Match, stole the show at the 2017 Western Australian Heritage Awards for its work in transforming Fremantle’s iconic Dalgety Wool Stores into unique residential industrial warehouse apartments.

The $130 million heritage restoration project took home awards including the ‘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.

The project, which was developed in collaboration with Capital Joint Venture Partner, Sirona Capital, is one of the largest heritage renewals in the State, and award judges acknowledged it as a “…massive undertaking that required Match to reach above and beyond to find innovative solutions to conserve and enhance original heritage fabric whilst satisfying building, safety and utility requirements as well as customer expectation.”

The site had sat largely unused for 20 years and the judges said the project is “a testament to the dedication and financial commitment of its owners.”

Managing Director of parent company M/Group, Mr Lloyd Clark, said the awards are a great honour and ‘icing on the cake’ for residents who are now experiencing how it feels to live in the depths of history.

“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 new apartment owners are creating their own space amidst 100 year old Jarrah beams and original heritage features,” he said.

“To be honoured so significantly at the Western Australian Heritage Awards is a credit to the tireless work of the entire project team, who left no stone unturned to make this building as special as it now is. It is an extremely proud moment for M/Group.”

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.

Mayor Brad Pettitt said the Fremantle Council is a big supporter of adapting heritage buildings for modern uses.

“It’s hard to imagine a better result than what we now see at Heirloom. After being tired and run down for decades, the east end of Fremantle has become a very attractive place to live and work. The Heirloom development has been a major driver in this ongoing transformation,” he said.

“Congratulations to Match and the development team for their passion and commitment to ensuring our heritage buildings are retained for future generations of people to enjoy.”

Heirloom by Match has retained over 85% of heritage fabric across 183 apartments. It has exposed the buildings infamous saw tooth roof to allow natural light and airflow through a spacious central atrium.

“Heirloom is unquestionably Match’s most significant development project in the company’s 16 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’s plans to extend Fremantle’s activity centre into its eastern corridor gateway,” 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 received the coveted Gerry Gauntlett Award in 2008 for its highly acclaimed Home warehouse apartments located in Perth CBD. The company is also responsible for the heritage-listed Maymont in Maylands, which effectively injected new life into the area, as well as a range of cutting-edge design-inspired apartment properties throughout Perth.

Heirloom by Match has available ‘move in ready’ apartments from $450,000 and two-bedroom apartments from $650,000, with a limited number of harbour facing Lofts available from $950,000.

A small number of residential leasing opportunities also exist to approved applicants.

The Heirloom display apartments are open by appointment. For more information visit www.heirloombymatch.com.au or contact 0432 660 066

The acquisition follows a successful renegotiation with key anchor tenant Woolworths to extend a current lease agreement from two to 12 years.

M/Group Managing Director, Mr Lloyd Clark, says the Woolworths lease was significant to the acquisition and adds weight to an already strong investment proposition.

“M/Group has been actively seeking suitable properties to meet an investment criteria that is particularly pertinent to current market conditions. Albany Brooks Garden Shopping Centre stood out as a highly secure income producing investment that targets investor earnings of 10% pa plus strong future capital potential,” he said.

“Woolworths’ extended lease agreement unlocked an immediate boost to the property’s capital. The site also has redevelopment potential with over 2.7 hectares of retail zoned land remaining for future development. It is not difficult to see why our investors were motivated by the opportunity.”

M/Group initially entered the asset funds market in 2013 with the acquisition of the strategically located Officeworks building in Bunbury. This asset also incorporated a blue-chip tenant, long lease and high forecast returns. The fund was fully subscribed within just weeks of its release.

The Albany Brooks Garden Shopping Centre is identified as a neighbourhood shopping centre located on the corner of Chester Pass and Catalina Roads, Albany. It is anchored with national brands that include Woolworths, BWS, Katies, Brumby’s and Chemart, which occupy 80% of the centre by income.

Mr Clark said the level of interest in the recent property syndicate was not unexpected and the company already has similar opportunities on its radar.

“The rate at which income producing property funds over-subscribe is a clear indication that demand continues to be high for these kinds of investments, particularly for investors seeking a low-risk investment class,” he continued.

“To support this activity, last year M/Group appointed property acquisition specialist James Collis as director of income funds. James has been working on a number of similar opportunities and M/Group is already accepting expressions of interest for upcoming investments.”

M/Group’s investment model utilises its retail funds management license to make new opportunities available to a broader market that may not traditionally have access to this investment class.

M/Group targets tenanted assets Australia-wide with a value proposition of around $10million to $50million. The company is currently negotiating the acquisition of some $60illion worth of income producing assets with the release of a new fund currently in the pipeline.

For more information contact James Collis at james.collis@mgroup.com.au or visit www.mgroup.com.au/investments.