PACT wins apartment work

Mustera Property Group have appointed PACT Construction to deliver its $89 million Applecross project. 

The 13-storey apartment development, named Forbes Residences, received planning approval in April last year and plans for 34 three-and-four-bedroom residential apartments as well as 23 short-stay accommodation apartments. 

Located on the corner of Forbes and Kishorn Roads in Applecross, the project will also comprise commercial space, as well as co-working space. 

The project’s design has been led by Singapore-based architecture firm WOHA, supported by Perth firm MJA Studio. 

Mustera executive director Nick Zborowski said the appointment of a builder was a major milestone for the project, with PACT chosen for its local expertise and a history of successful project delivery. 

“The appointment of PACT follows an extensive tender process and we are looking forward to our vision for Forbes Residences, an exclusive, luxurious and boutique apartment offering, becoming a reality,” he said.  

“This is an exciting time for the people who have already purchased apartments at Forbes Residences as well as members of the local community who will enjoy the community centre, co-working options, community gardens and further food and beverage options.” 

Mustera said more than 50 per cent of apartments were now under contract, following the project’s launch to market in February this year. 

“Given we commenced sales and marketing around 12 weeks ago, to have achieved some $32 million in sales under contract is an outstanding result,” Mr Zborowski said. 

“The design and quality of Forbes Residences has clearly been reflected in the level of buyer interest and activity. 

“The level of presales achieved in a matter of weeks mean we have now appointed a quality builder and will see work begin on site in the third quarter of this year.” 

Downsizers had been well represented in enquiries and sales to date, Mr Zborowski said. 

“The opportunity for local buyers to rightsize into a new home that still offers the level of luxury, quality and green feel they’re accustomed to is one that’s been very well received,” he said.  

“That is a market we had very much in mind for Forbes Residences, and that has been reflected in the design by WOHA – with large premium apartments and the integration of sky gardens, which replicate the leafy outlook that Applecross residents value.”

The property groups are targeting expected construction completion for 2023 and a five-star GreenStar rating, with the development to feature natural cross ventilation, rooftop solar powering common area services and recycled wastewater for garden irrigation.