M Group
A New Coastal Community Takes Form at Port Coogee
With 50% of apartments sold prior to completion, boutique property company Match has opened its doors to Form by Match at Port Coogee with a top floor Display Apartment designed to help residents experience their potential new space.
Form by Match is a 50-apartment marina-side complex that has been mooted by some as one of the area’s most anticipated boutique apartment designs. It is the incarnation of one of Western Australia’s most reputed Architects, Geoff Warn of Donaldson & Warn, who worked in collaboration with Match to push the boundaries of apartment living in Perth.
Located just 50metres from Port Coogee Marina and adjacent to parkland, the property greets you with a striking façade that draws you inside, where you will find every apartment designed to make the most of the surrounds, including the majority being north facing with sweeping ocean views.
Match Director, Mr Dean Burrowes, said the property is a design statement and impressive on every level and he is thrilled that the project is now complete for people to experience the difference.
“We wanted to make a statement with Form by Match and move as far away as possible from the traditional apartment block,” he said.
“We encouraged Geoff Warn to look outside the square and create an environment that pushes the boundaries of balancing space, light and features. The result is outstanding and really needs to be explored to be fully appreciated.”
While the building exterior is bold, inside restraint is shown with clean, white and timeless interiors. It has been a conscious design decision to create a blank canvas for buyers to individualise with furniture and artwork.
“The building is based on a block formation that uses different materials to give the total development a definite sense of scale. The building’s exterior aims to speaks directly to an increasing demand for signature residences, as opposed to ‘cookie-cutter’ environments,” Mr Burrowes continued.
“Most apartments within the complex are north facing and many offer amazing ocean views. Features such as high ceilings and floor to ceiling glazing are incorporated to maximise the outlook and benefits of orientation. This also includes sheltered balconies with shade screens to make the most of the sea breeze in summer as well as create a sunroom sanctuary in winter.”
The property opens to an emerging community within the Port Coogee Marina Estate, with amenities such as a new Woolworths and Dome café at the doorstep, and Fremantle less than 10 minutes away.
For more information visit www.formbymatch.com.au or call 0432 660 066
Prime 7 News | Retail boom for Wodonga
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M Group
Prime 7 News | Retail boom for Wodonga
Wodonga Plaza’s major retail boom is pushing more shoppers south of the Border.
See story here: https://www.prime7.com.au/news/3790-retail-boom
Atop Beeliar | Stage 1 Construction Update | September 2018
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M Group
Atop Beeliar | Stage 1 Construction Update | September 2018
Atop Beeliar project update in September 2018. In the video you can see construction on Stage 1.
Monument’s latest land release, Atop Beeliar, is located in the well-established suburb of Beeliar amongst natural Tuart trees on a ridge with ocean views.
M/Group Lifts the Value of its Shopping Centres
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M Group
M/Group Lifts the Value of its Shopping Centres
An intuitive understanding of the retail sector together with robust investment and tenancy strategies have been credited to the significant valuation uplift received for M/Group’s recently acquired shopping centre assets. The valuation uplift for Wodonga Plaza in Victoria and Albany’s Chester Pass Mall are both estimated at some 15-20% since acquisition.
M/Group shopping centre acquisitions took place throughout 2017 amidst increasing online and local competition. Both centres were sold by major retail conglomerate, Vicinity, as non-core assets. M/Group saw this as an opportunity to secure key assets and add value in important regional hubs.
M/Group Managing Director, Mr Lloyd Clark, believes regional shopping centres serve an entirely different purpose to their city counterparts, and says it is where M/Group’s experience and understanding of the retail sector can really contribute.
“While retail is a changing landscape, shopping centres located in regional areas represent an important social hub where residents go into town to socialise and be part of the community,” he said.
“At acquisition, Wodonga Plaza’s weighted average lease expiry (WALE) was under 4 years, and the centre was facing increased competition with two new shopping centres opening within a kilometer of the location. Vacancies were high and customers were having to cross the border to Albury for certain retailer needs. It was a problematic landscape, but we were confident in our capacity to turn things around.”
M/Group initially conducted a needs analysis and invested funds to the value of $2.5million on a major mall reconfiguration. This introduced a food court, two mini-major retailers and an increased fashion offer.
The company have renewed or signed new leases for over 30 tenancies at the centre within 12 months representing over 60% of the tenancies and lifted the WALE to circa seven years and revitalized the centre with a number of new tenancies. The shopping centre is today poised to be 100% leased by the end of the year.
Closer to home, planning is underway to maximise the potential of the company’s Albany asset. M/Group Director, Mr James Collis, who leads the company’s asset management division, said Albany presented great opportunities particularly in the bulky goods, food and entertainment areas.
“In contrast to Wodonga, which is the fastest growing regional city in Victoria, we see Albany as a more stable and mature market with gradual growth and a great deal of redevelopment potential,” he said.
“Understanding retail behaviours and digging deep into local demographics has enabled us to make considered judgements and decisions that not only protect our investor interests but also create environments that will attract regional shoppers.
“There are a number of plans on the table for Albany, but significant traction has already been made through our targeted tenant negotiations. It is incredible what can be achieved when a clear focus is given to building an asset. Additionally, we have been able to renew, relocate and expand a number of the sitting tenancies at the centre who are now all trading well”
M/Group’s Albany shopping centre includes 2.7 hectares of undeveloped retail zoned land and the company has already negotiated an extended lease agreement with Woolworths and a number of other tenants to achieve its increased valuation.
Another Quest for M/Group
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M Group
Another Quest for M/Group
Following a series of oversubscribed investment fund releases, M/Group is seeking to raise $11.5million to support the development of a new apartment hotel with a secure 15-year lease to national operator, Quest.
The Ascot Quest Trust will develop a 112 key Quest Apartment hotel in Ascot. The prime high-profile corner site is strategically located at 266 Great Eastern Highway, near Perth Airport and enroute to the Perth CBD. The location will enable Quest to take advantage of its close proximity to Ascot racecourse, Optus Stadium, Crown Casino, Perth CBD and Perth airport and a number of arterial roads.
Development approval has already been secured with construction scheduled to commence early 2019.
It is the second Quest project undertaken by M/Group, following the company’s success earlier this year in raising $7.6million to develop a 90-key complex in Joondalup. This investment fund oversubscribed within weeks of its release and is now under construction.
M/Group Managing Director, Mr Lloyd Clark, says both projects represent the prospect of a secure investment in a strategic location.
“Quest is Australia’s leading apartment hotel operator, which is 80% owned by Singaporean serviced apartment group The Ascott Limited, a subsidiary of Real Estate giant CapitaLand. This means the secured 15-year lease with further 5-year options is extremely well supported, and the property itself has capital uplift supported by independent valuation,” he said.
“From an investor’s perspective, development risks have been significantly mitigated providing a strong and secure opportunity for investors.”
The overall investor return (IRR) is targeted at 15.4% over an estimated seven-year term and annual distributions are forecast to commence at 10% pa. M/Group is seeking investors with a minimum investment of $50,000 and multiples of $10,000 thereafter.
The property will be constructed by M/Group’s internal building division, M/Construction, which is also building the Quest Joondalup and has prior experience in the delivery of quality residential and serviced apartments. M/Construction was recently named Best New Builder by the Master Builders Association.
“Quest was established in Melbourne in 1988 with one property in Fitzroy, and today has over 150 properties in Australia, New Zealand and Fiji,” Mr Clark continued.
“We believe the Ascot location is a great fit with Quest’s ongoing growth model in WA, and M/Group is delighted to be entrusted by such a reputed operator to deliver on its next venture.”
M/Group is an integrated property company that has over $170 million of Investor funds under management with a projected asset value of approximately $1 billion.
The Ascot Quest Trust offer will open shortly and is expected to fill quickly.
For more information or an investment prospectus contact info@mgroup.com.au or (08) 6380 0400.
M/Construction Emerges as Significant Perth Builder
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M Group
M/Construction Emerges as Significant Perth Builder
What started for M/Group as a strategic move to integrate its in-house property development pipeline, has transpired into the creation of one of the company’s most successful and profitable independent divisions. M/Construction’s recent win of the Master Builders Awards for Excellence in Construction Award for Best Multi-Unit Development between $10-20million is testament to how far the company has come.
Born as an independent building company in 2010, M/Construction was initially tasked with sourcing private building contracts to ‘earn its stripes’ before being engaged internally for the range of apartment developments under M/Group’s apartment brand, Match.
M/Group Managing Director, Mr Lloyd Clark, said it was important to demonstrate that the company’s building capabilities were appropriate to the Match brand.
“When M/Construction was introduced, Match had already forged a strong reputation for quality construction, but we wanted to take it a step further and maintain full quality-control of our projects and development pipeline,” he said.
“M/Construction is strongly based on a boutique design-construct model with an emphasis on technology and highly sophisticated systems. This effectively blurred the lines between the traditional builder experience, and the company quickly acquired a number of multi-level developments, commercial and high-end residences before being engaged internally.”
M/Construction has today built seven multi-level apartment developments throughout inner-city Perth and Fremantle ranging in value from $4million to $20million. It incorporates a maintenance and minor works arm attracting major Government and private contracts, and continues to work both with and independent of M/Group projects.
The MBA Award was received for its M/24 by Match development in Leederville. It was won against the likes of BGC, Pro-Build and DMG.
Director of M/Construction, Mr Michael Read, said the company has continued to grow despite market conditions which, he believes, is a result of its unique and complementary proposition.
“Over the years we have been quietly building rapport in the marketplace by focusing on quality work rather than quantity. Our systems and processes are amongst the best in the State and the fact that we have delivered an award-winning project against larger players is really testament to what we have achieved.”
“This year alone has seen the company receive an enormous number of significant contracts and accolades. We are extremely excited by the prospect of what we can achieve next.”
M/Construction is currently working on three Match apartments under construction and engaged by organisations such as Curtin University, Programmed Facilities Management and local authorities for ongoing maintenance and minor works contracts.
M/Construction specialises in the construction of multi-level developments to the value of $20million and undertakes maintenance and minor works projects between $5,000 and $2million.