Pindan partners deliver Freshwater, Claremont
Pindan recently completed construction of the $29m residential and commercial development Freshwater Claremont, in partnership with development managers Aria Land.
The project is located on the corner of Stirling Highway and Freshwater Parade in Claremont and features 71 high-end apartments over two mid – rise buildings, 10 commercial units and a lap pool.
Pindan was involved in both the capital raising and construction of the project and Mr Paul Simpson, Managing Director of Aria Land, said Pindan’s ability to deliver to such a high standard resulted in the development being built on time and on budget.
“Aria Land is a boutique developer and development manager and Pindan’s ethical standards in respect to all areas such as construction standards, pricing, management and general business ethics match ours.
“There are few builders that possess such attributes, as well as the capacity to build luxury developments, making Pindan the perfect partner for Aria Land,” Mr Simpson said.
Freshwater Claremont is the second development Pindan has built for Aria Land, having previously built West One in Hay Street, West Perth.
Mr Scott Davison, General Manager Funds Management for Pindan Capital, said having previously worked with Aria Land, Freshwater presented a great opportunity for Pindan to become an equity partner as well as builder of the development.
“Freshwater ticked all the boxes from our capital raising point of view – a great location, excellence in the quality of product proposed and pricing well in line with the market,” Mr Davison said.
“Our forecasts showed we could gain a strong return for our investors, which has been subsequently achieved.”
This coupled with a strong working relationship with Aria Land made the project extremely successful on all levels according to Mr Davison.
Freshwater was completed in August, with residents and owners just recently moving in to the residential and commercial apartments.
Mr Simpson said Freshwater had been a highly successful development from a number of perspectives.
“The joy and satisfaction of seeing such happy buyers upon the handover of their new homes could only be achieved thanks to the result of a fine job by both the project’s architects HASSELL, but also Pindan’s ability to deliver the build outcome to the required standards,” he said.
Pindan operates as an integrated property group and works with its partners to provide a range of services from land acquisition and capital raising through to design and construction and development management.
Pindan Asset Management Case Study
02 Nov 2015