Momentum Wealth has commenced construction on their East Victoria Park development in Western Australia, which comprises 36 residences across a four-storey boutique apartment building.
After a comprehensive tender process, Momentum Wealth recently appointed property and construction company, Pindan, as the builder for The Brixton development.
Head of Development at Momentum Wealth, Philip Anderson, said the Brixton is an exciting project in the heart of the vibrant East Vic Park community.
“We are thrilled to have partnered with Pindan and broken ground on this latest development,” Mr Anderson said.
Pindan Pre-Contracts Manager, James Allingame, said they are excited 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.”
Momentum Wealth and Pindan executives were joined by Treasurer of Western Australia and Victoria Park MP, Ben Wyatt, at The Brixton construction site on 26 February 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 are 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,” he shared.
“Each of our development syndicates targets an in-demand section of the market and is backed by extensive market research that considers a broad range of factors to help identify the most profitable sites.”