Western Australia’s apartment sales and property management specialist

The City of Fremantle’s plan to boost the number of people living and working in the city centre has reached another important milestone, with construction starting on the M/27 by Match apartment development on Parry Street.

The development, to be undertaken by M/Group’s building division M/Construction, will include 40 apartments adjacent to the heritage-listed former S.E.C. substation.

The S.E.C. building was restored by M/Construction in 2018 to accommodate a food and beverage venue or be used as boutique office space.

M/Group was previously involved in the award-winning heritage conversion of Fremantle’s historic Dalgety Woolstores into the Heirloom apartments, as well as numerous other projects in the Fremantle area.

Mr Lloyd Clark, Managing Director of Match parent company M/Group, said he was thrilled the company was playing an important role in Fremantle’s revival.

“We’re very excited to have construction commencing on our latest project in Fremantle,” Mr Clark said.

“After the great success of the Heirloom project, which really ignited the apartment boom in Fremantle’s East End, we’re delighted to be involved in bringing life back to another of Fremantle’s heritage treasures.

“Match has had significant involvement in Fremantle and its stretch of coastline for almost a decade with many varying projects catering to people from all walks of life.

“There really is no other place in the world like Fremantle, and with the revitalisation that is currently underway we’re very confident it has a bright future.”

Mayor Brad Pettitt said it was great to see another major development getting underway in Fremantle.

“Many years ago the council recognised that Fremantle’s economy had stagnated and we needed to get more people living and working in the city centre,” Mayor Pettitt said.

“In response we put in action a long-term plan to make Fremantle a more attractive place to invest and restore our seven-day-a-week economy.

“Changes to planning regulations to allow greater building height and density in return for improved design and sustainability measures, a common sense approach to the adaptive re-use of heritage buildings and investments in major transformational projects like the Kings Square Renewal project were all central to that plan.

“It’s taken a while, but it’s really exciting to now see that work paying off with construction starting on the M/27 apartments and all of the other new developments that are happening in Freo.”

The S.E.C. building was originally constructed in 1933 for the Fremantle Municipal Tramways and Electric Lighting Board before being taken over as a substation by the State Energy Commission in 1952.

The substation ceased operation in 1980 and was converted into the Western Power Energy Museum, which operated until 2010.

The heritage works on the building included the restoration of existing brickwork, refurbishment of metal window frames and the restoration of existing large timber sliding doors.

https://www.fremantle.wa.gov.au/news-and-media/sec-building-meets-its-match

What key drivers attracted you to develop in Fremantle and what is it that makes it attractive from a developer’s perspective?

Interestingly, our initial focus on Fremantle raised some eyebrows. In the early days we did significant work building a reputation as an inner city developer. All our projects were strategically located around the CBD and we actively promoted a new form of urban living specific to this area. It appeared in vast contrast to the eclectic beach and port side environment of Fremantle, but to us it held similar hallmarks.

What Match is very good at is identifying strategically located sites with good infrastructure and growth prospects. We laid our first claim to land in the early stages of South Beach Estate because we saw enormous potential.

Many find it hard to pigeonhole Fremantle due to its location and diverse population. However, it is without question a place where people want to live and we believed we could offer something unique to the mix.

Give us a brief overview of your Fremantle-based projects (past and current)

The Summer, South Fremantle – COMPLETED
Australia’s first Green Star Multi-Residential Building offering 36 luxury apartments with ocean views.

Heirloom by Match, Fremantle – COMPLETED
Highly celebrated and award-winning adaptive use of Fremantle’s iconic Dalgety Wool Stores heritage building.

M/28 by Match, South Terrace, Fremantle – COMPLETED
A boutique development of just 20 apartments and 6 commercial spaces located in the very heart of the eclectic South Terrace community.

M/27 by Match, Parry Street, Fremantle – UNDER CONSTRUCTION
A boutique development of just 40 park side apartments and conservation of the heritage listed substation building located in the midst of Fremantle’s historic and cultural centre.

Somersault, Fremantle – COMPLETED
An apartment complex of 58 affordable living residences inspired by the materials and textures synonymous with Fremantle.

Sublime, North Fremantle – COMPLETED
Just 16 beautifully appointed apartments incorporating exteriors with colours that reflect the nearby “Dingo’ flour mill.

Match has also extended its interest along Fremantle’s Coastal Corridor into areas such as North Coogee and Port Coogee including apartments and terrace homes.

There’s now a long list of developments planned or underway in Fremantle – what do you think has recently made it attractive for development?

Fremantle is definitely a place where increased development activity greatly improves the area’s atmosphere and appeal.

As Perth’s second largest CBD, the transition from a tourism and industrial location to a central residential and lifestyle hub has required both good planning and a period of adjustment. As more people are attracted to the area, they stimulate demand for residential product and, in doing so, creates an atmosphere that resembled some of the best and most populous cities in the world.

The factors that today make Fremantle so attractive could not simply be switched on. Match identified the City’s potential a long time ago but knew it would take capacity to build capacity. It is so great to see what has emerged since we arrived over a decade ago.

What are your anticipations for Fremantle’s future property market and the town itself?

Match has invested heavily in Fremantle and, in particular, its coastal corridor. We now have quite a significant footprint of projects in and around the area. We wouldn’t have made Fremantle our focus if we didn’t believe in its growth and potential.

There are very few places in Australia, if not around the world, that offers such a vibrant urban atmosphere with outstanding community infrastructure, as well as access to a coastal lifestyle. This is unique and unique translates to value.

We believe the town will continue to evolve as more people move into the community. Fremantle will continue to be a sought-after location, and quality product will become the differentiator in the property game.

We have been extremely lucky to work with a city council that is both visionary and takes a collaborative approach to development. Good planning underpins the success of any environment, and shutting the doors on development completely could have been disastrous for Fremantle.

What many might not realise is that what we are seeing now is the result of a considered approach that has been in the works for over a decade.

Strategic development sites, such as Heirloom, have been instrumental to opening key areas of the City to the public and reinvigorating the area’s incredible history.

There have been many bold moves taken over the years by the City of Fremantle, so it’s great to see everything come together for them and the community.

Comments by Lloyd Clark, Managing Director of Match parent company M/Group

Developers of smaller apartments projects across Perth say some of the state government’s recent measures to stimulate economic activity and employment in light of COVID-19 are good in theory, but may not meet expectations in practice.

Among the measures is a streamlined assessment process for ‘significant developments’, defined as those projects with an estimated cost of at least $30 million or new residential buildings proposing more than 100 dwellings.

Developer and architect Barry Baltinas hopes the approvals process for the smaller, high-end apartment projects he focuses on could also be streamlined.

“These smaller projects can get off the ground very quickly, helping to create jobs and incomes for Perth families at a time when that is very much needed,” Mr Baltinas told Business News.

“Now more than ever, buyers are putting their health and the health of their family in focus, and boutique living aligns with that.”

Baltinas’s latest project, the $19 million Habitat Residences in Applecross, recently completed construction and features 14 apartments and three penthouses.

Mr Baltinas said the lack of shared facilities at the projects had proved to be a drawcard, particularly in recent weeks.

“It not only means fewer maintenance costs, but brings fewer health implications, which is obviously top of mind for many buyers right now,” he said.

“We’re seeing more activity in the market, in particular from those downsizers who have not been greatly impacted financially by recent events.”

M/Group managing director Lloyd Clark said there had been a lot of speculation about the potential negative impact of COVID-19 on the property industry, but the company’s apartment arm Match, which mostly develops 30-40 dwellings over three to five storeys, had not adjusted its pipeline.

“Boutique product holds its value,” Mr Clark told Business News.

“It’s important to note that the apartment market is heavily impacted by continued population growth, and an emerging generation that values central urban living over the half-acre block.”

Mr Clark said this would continue to increase demand for quality product in desirable locations.

“If the government’s mandate is to stimulate the economy and fast track project development, it needs to approach all areas of the property sector equally,” he said.

“We believe it is absolutely counterproductive for the government to favour one style of dwelling over another in any capacity.

“There is a whole market sector that would never consider high-density living, so disadvantaging them with time delays does not service anyone.”

Excerpt from Business News – 22 June 2020