M Group
M/Land Announced as Part of Company Expansion
M/Group (formerly Match) has taken another strategic step towards further diversifying its property company portfolio with the introduction of a land development company, M/Land.
M/Land will focus on identifying and developing boutique infill and green field sites throughout Perth. It is being led by former Port Bouvard Limited chief executive, Mr Johnno Wroth as Director, who brings a background of development approval and delivery across a diverse range of projects.
Mr Wroth says M/Group shares his philosophy of looking outside the square to meet the market and maximise the potential of development sites of various scales and sizes.
“Smaller sites tend to be ignored or don’t receive a great deal of development attention. M/Land, however, see these sites as opportunities to take a less conventional approach to development and offer greater innovation and amenity, effectively filling the gap between an apartment and traditional home site,” he said.
“Together with the Government’s support for greater infill density and long-term population forecasts, strategic opportunities for small lot infill subdivisions and group housing sites now exist, which is great news for landowners looking to reinvest in their property or capitalise on land assets.”
M/Land’s goal is to create environments that reflect the design-inspired features synonymous with sister apartment development company, Match. It is currently working on a pipeline of some 250 lots with an end value of around $60 million and will also offer development management services and joint venture opportunities.
M/Group Managing Director, Mr Lloyd Clark, said the introduction of M/Land forms part of the company’s ongoing growth strategy and reflects an organic expansion that has taken place over 15 years. He believes the new land opportunities are likely to attract the attention of land buyers and investors alike.
“M/Group’s business model has always been sound and measured. It has supported consistent growth for over a decade and the company is currently inviting investors to invest in land development funds with targeted investment annual returns of between 18% and 25%,” he said.
“M/Group is also exploring the prospect of growing its capital base and shifting its fund raising focus from project level to building increased corporate capital.”
M/Group comprises of five operating business units, including established boutique apartment developer, Match, real estate and property management services, M/Property, construction firm, M/Construction, finance broking company, M/Finance and M/Land.
M/Land is forecast to launch its land development projects in 2016.
For more information visit www.mlandestates.com.au
Heirloom Statement
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M Group
Heirloom Statement
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.
Sophistication Fit for Como
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M Group
Sophistication Fit for Como
Understated elegance and direct access to the life-blood of Como provided inspiration to boutique apartment developer, Match, when introducing its first Como apartment residences to the market.
M/26 is located in the quiet side street of Mary Street Como, just metres from the Preston Road shopping and restaurant strip, cinema, and just one block from the Swan River.
Match Managing Director, Mr. Lloyd Clark, said Como is such a tightly held environment, that the company wanted to appeal to those already living in the area, as well as those who aspire to do so.
“Como is an established community dominated by large residential dwellings in a location that leaves residents wanting for nothing,” he said.
“Everything, including the beautiful Swan River, is within walking distance of this site and, when reviewing opportunities for development, we recognised a need for residences that could accommodate people wanting a lifestyle change without leaving Como, as well as those eager to own a piece of this special location without the capital required to secure a large residential home.”
M/26 is a boutique 40-apartment project based on a contemporary open living design. They feature Match’s signature high ceilings and large balconies and are meticulously designed to maximise light and airflow.
Designed by award winning architects, Cameron Chisholm Nichol Architects (CCN), the apartments are sophisticated and timeless, with some affording views of the Perth city skyline and Swan River.
“The understated style intrinsic to this property is evident as soon as you enter the stone entry lobby. The facade creates a distinguished first impression and the high standard of finish is maintained throughout,” Mr. Clark said.
“The location is well-serviced by public transport and within walking distance to the cinema, supermarket and the Swan River. Properties like these are extremely rare in places like Como and, based on the limited supply of apartments available in the area, we expect a great deal of interest from the local community.”
Apartments range in size from 56 sq. m to 88 sq. m, with secure basement parking and large courtyards on the ground floor garden apartments.
Each apartment is fitted with Bosch appliances, Roger Seller bathroom fittings and double glazing. Prices start from only $485,000 for a one-bedroom and $625,000 for a two-bedroom apartment.
Construction is scheduled to commence in April 2016 by M/Construction; a company recently named Best New Builder at the MBA Awards.
The property is due for completion in May 2017.
Statement
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M Group
Statement
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.
M/Group Structure to Articulate Organic Growth
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M Group
M/Group Structure to Articulate Organic Growth
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.”
Match Acquires Volvo Pentra Site in Fremantle
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M Group
Match Acquires Volvo Pentra Site in Fremantle
Boutique apartment developer, Match, has acquired the 1,617 sq.m former Volvo Pentra site located at 284 South Terrace, Fremantle.
The 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 75% of apartments pre sold.
Match Managing Director, Mr. Lloyd Clark, said the company’s latest acquisition demonstrates its confidence in Fremantle as an emerging cultural hub and believes the area is a good fit for Match’s style of boutique development.
“What Match brings to Fremantle is a considered approach to enhancing the streetscape to reflect the culture and environment,” Mr. Clark said.
“Properties that appeal to the Fremantle market are unique and quite different to those we would propose for Perth’s inner city environment. This is part of the reason we have been so successful in the area, where buyers tend to be design focused and looking for signature properties close to the amenity that Fremantle offers.”
Local Fremantle Architect, David Barr, has been appointed in collaboration with Cameron Chisholm Nichol (CCN) Architects. David has now collaborated on a number of Match’s Fremantle projects, with CCN Architects behind the design of Heirloom and the recently approved Fremantle Electricity Substation heritage projects.
The South Terrace site was purchased through a development fund, which was oversubscribed within weeks of its release. The success of this development fund follows a series of oversubscribed funds released by the company over the past 18 months.
“Our formula is based on a solid track record of securing strategic sites and producing boutique and distinctive designs amidst a somewhat cookie-cutter apartment environment,” Mr. Clark continued.
“The South Terrace site is prominent and within the heart of the cafe strip that stretches from the Fremantle centre to South Fremantle, and we are confident the product will have broad appeal.”
The proposed development for the South Terrace site includes a boutique mixed-use project comprising of shops on the ground floor and apartments above.
It is anticipated the apartments will be released to the market early 2016.