FOR IMMEDIATE RELEASE: Momentum Wealth commences construction on East Victoria Park development
Momentum Wealth commences construction on East Victoria Park development
Perth-based residential development syndicator, Momentum Wealth, has commenced construction on their East Victoria Park development The Brixton, which comprises 36 residences across a four-storey boutique apartment building.
After a comprehensive tender process, Momentum Wealth recently appointed leading Australian construction group, Pindan, as the builder for The Brixton development.
Head of Development at Momentum Wealth, Philip Anderson, said that the company was excited by this partnership with Pindan as well as the beginning of the construction phase for this development.
“The Brixton is an exciting project in the heart of the vibrant East Vic Park community, and we are thrilled to have partnered with Pindan and broken ground on this latest development.”
“Pindan is a nationally recognised company that is managing another of our syndicated developments in Highgate, and it is fantastic to be working with them again on the construction of The Brixton,” Mr Anderson said.
Pindan Pre-Contracts Manager James Allingame said the integrated property and construction group was delighted to be partnering with Momentum Wealth on a new project.
“As leaders in constructing bespoke residential projects, we’re excited to be building on our partnership with Momentum Wealth to help deliver these exciting homes to the vibrant East Victoria Park community.”
“Our team has been on-site in Highgate for the past year constructing Momentum Wealth’s $15.5 million Wright Street Apartments development, and we’re thrilled to now be chosen to build its latest lifestyle residence, Brixton Apartments,” he said.
Momentum Wealth and Pindan executives were joined by WA Treasurer and Victoria Park MP, Ben Wyatt at The Brixton construction site on Friday (February 26) to celebrate the commencement of construction.
In October the state government purchased five of The Brixton apartments off-the-plan as part of its $319 million Social Housing Economy Recovery Package that targeted well-designed and well-located residential developments.
Momentum Wealth expanding on syndicated offerings
The Brixton is one of three projects Momentum Wealth currently has under construction, with another two additional developments – located in Crawley and Shenton Park - in the pipeline.
Mr Anderson said Momentum Wealth were expanding their syndicate offerings in response to demand from investors who are increasingly seeking diversified avenues of investment.
“We are seeing a strong surge in demand for premium boutique projects as investors look to diversify their portfolios and access investments that they otherwise wouldn’t be able to achieve by themselves.”