M Group
Secret Harbour Land Becomes Boutique
The company behind some of Western Australia’s most celebrated residential architecture has arrived in Secret Harbour to launch its first boutique-style land division and take advantage of the area’s established community infrastructure and coastal amenity.
M/Land is part of the M/Group of companies, which specialises in the identification and development of niche land development opportunities across the State.
M/Group has played a pivotal role in revitalising environments such as Mount Lawley, South Fremantle and Maylands and in its first foray into land development, M/Land has secured one of the last remaining strategically located parcels of land in Secret Harbour.
Director of M/Land, Mr John Wroth, said the company was attracted to the site due to its coastal location between the two major centres of Rockingham and Mandurah. He said the land is being developed as an affordable land release that doesn’t carry the risk often associated with early entry into large master-planned communities.
“New land owners can sometimes wait years for the introduction of community infrastructure to support their lifestyle, such as schools and shopping centres. However, Secret Harbour is already a sought after coastal village with an established community of over 10,000 people,” he said.
“That means there is absolutely no wait for schools, shopping centres, health services, and transport links. It even has an award winning golf course, newly refurbished surf club and the local shopping centre undergoing a $53 million transformation to include Aldi and Coles and specialty shops, which is expected to generate around 250 new jobs. This is in addition to the existing Woolworths and is almost unheard within new land developments.”
M/Land is releasing stage one of the 67-lot estate named “Hamelin Park”, which includes 25 lots sized between 311sq.m and 510 sq.m. It is located within walking distance to the shops, two minutes from the beach and seven minutes from the public transport, with the Perth commuting time of just 45 minutes.
Mr Wroth expects a great deal of interest will be attracted from the local first homebuyers.
“We have priced land at Hamelin Park well below the Secret Harbour average, so it really stacks up as a great opportunity for young people to get a foothold in a well-established coastal property market. Its release follows a decade of low interest rates, first home buyer grants and incredible builder incentives – all contributing to Perth’s most affordable property investment periods in decades,” Mr Wroth continued.
“Our development also includes a number of clever design features that create distinction and align it to the standards and style that our parent company has become known for. I am confidant Hamelin Park will tick all the boxes for local property buyers and emerge as a fantastic investment.”
Hamelin Park is surrounded by interconnected parkland, walking paths, and will feature a landscaped park as a centerpiece.
Hamelin Park home sites start from $179,000. House and land packages starting from $365,000, which does not include the First Home Buyers grant. Titles for stage one of the development are scheduled to be issued in April 2017.
For more information visit www.hamelinpark.com.au or email john.wroth@mlandestates.com.au.
History Begets History as Landmark Renewal Gives Heirloom to Fremantle
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M Group
History Begets History as Landmark Renewal Gives Heirloom to Fremantle
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.
M/Land to Help Buyers Ride the Wave of an Established Community
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M Group
M/Land to Help Buyers Ride the Wave of an Established Community
Boutique land developer M/Land has secured a niche development parcel at Secret Harbour, with plans recently approved for 67 residential lots within the established and highly sought after coastal community.
The land acquisition is via an investment syndicate that quickly oversubscribed due to investors seeking to capitalise on the area’s advanced stage of development, favourable market conditions and attractive forecast returns.
Director of M/Land, Mr John Wroth, said the development is the company’s first foray into this unique and proven style of land development since its establishment earlier this year. He believes the same factors that attracted strong investment interest will create a very alluring investment proposition for land buyers.
“Traditionally, there is often an element of risk associated with new subdivisions, and land owners can wait years for the introduction of infrastructure to support their lifestyle, such as schools and shopping centres. Depending on the level of infrastructure at various stages of the property cycle, these areas can also be vulnerable to volatile market conditions,” he said.
“However, we work a little differently to big developers by identifying smaller and strategically located parcels of land in well serviced areas that don’t carry the risk of early entry into large master-planned communities. The strategy is not only attractive to our syndicate investors, but ultimately helps new buyers ride the wave of an established community and enjoy the benefits of a development nearing maturity.”
Secret Harbour is just minutes from pristine beaches, a championship golf course, three excellent schools and surf club. It has a $53 million shopping centre expansion underway to the existing Woolworths store, with Coles and Aldi being added to the centre, creating more than 250 jobs on completion.
M/Land is part of the M/Group of companies, well known for instigating and introducing cutting edge and design-focussed apartments to the Perth marketplace amidst a backdrop of cookie-cutter developments. M/Land is backed by innovative design expertise, creative thinking, in-house building resources and a company culture that places the purchaser at the forefront of development plans.
“It’s not our way to simply acquire land to carve up and flood into the market. We look to explore all opportunities to provide innovative packages specific to our identified target markets,” he said.
“In the case of Secret Harbour, we have worked closely with WA’s leading project homebuilders, such as Summit Group, to offer an affordable lifestyle in a premium location. We redesigned the previous subdivision layout to introduce a mix of attractive, functional and affordable lots that are perfectly suited to WA’s building designs for our coastal conditions and relaxed lifestyle.
“We are fortunate to have the capacity to provide flexible and innovative outcomes to often complex and challenging infill development sites – and the buyer ultimately benefits.”
The Secret Harbour development is located at Lot 44 Surf Drive, just five minutes from a major train station and bus port, and 40mins to the Perth CBD. It is situated between the two major centres of Rockingham and Mandurah and within walking distance to the beach.
“Finding a ‘sure thing’ in land developments can be hit and miss, but we are confident our formula will attract first homebuyers, downsizers, families and investors to acquire a secure land investment with immediate lifestyle benefits in an cautious market,” Mr Wroth continued.
“Our Secret Harbour project provides a unique opportunity to get a foothold in a much sought after coastal community within a buyers market.”
Land prices for lots sized between 327sq.m to 557sq.m start from $185,000. The land is scheduled for market release in October 2016 with Titles for Stage One earmarked for early 2017.
To express interest in the Secret Harbour land or find out more about M/Land’s next investment syndicate can be made by visiting www.mlandestates.com.au or email john.wroth@mlandestates.com.au.
Powerful Launch for New Fremantle Apartments.
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M Group
Powerful Launch for New Fremantle Apartments.
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.
South Terrace Upgrades to Benefit Match Projects
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M Group
South Terrace Upgrades to Benefit Match Projects
Boutique property developer, Match, has received development approval for a 22 apartment mixed use complex located on the former Volvo Pentra site at 284 South Terrace, Fremantle.
The site falls within the development zone of a recently approved street upgrade and revitalisation of South Terrace by the City of Fremantle, which incorporates additional trees, landscaping and upgrade to footpaths between South Street and Douro Road.
Managing Director of M/Group, parent company of Match, Mr Lloyd Clark, said the development site is well placed in the City and compares favourably to a long list of strategic sites the company has acquired and developed over its 15-year history.
“Identifying and securing strategic locations for development has been key to Match’s success since the company cut out teeth on the inner city Perth market over a decade ago,” he said.
“In isolation, the South Terrace site was identified as a great location and excellent opportunity for a mixed use facility. However, as the City of Fremantle’s street upgrades directly impact the project and its exterior, this adds weight to the investment proposition. We consider it to be an enormous opportunity to leverage from expanding interests in Fremantle.”
The project, named M/28, was subject to an oversubscribed development fund; one of many oversubscribed funds released by M/Group over the last a few years.
The 1,617 sq.m site was purchased for just over $3million and follows a string of successful Fremantle development projects for the company, including the high profile heritage renewal of the old Dalgety Woolstores, Heirloom, which is currently under construction with 80% of apartments pre-sold.
“We are working on a number of Fremantle projects at the moment, as the market responds well to our approach to design,” Mr Lloyd continues.
“This particular development is located in an established part of the City and it is therefore important to respect the existing culture of the area and introduce a design that contributes to the activity of the high street and the lifestyle of the residents. We believe we have achieved this in our design.”
Designed by local Fremantle Architect, David Barr, in collaboration with Cameron Chisholm Nichol (CCN) Architects, the development will accommodate shops on the ground floor and one and two bedroom apartments above.
M/28 is scheduled for market release in October 2016 and will be constructed by M/Group building firm, M/Construction.
WA Property Syndicate Lowers Risk to Attract Investors
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M Group
WA Property Syndicate Lowers Risk to Attract Investors
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.