Pindan secures Iris Residential's Jolimont build

Construction will start within weeks at Iris Residential’s $50 million One Mabel Park boutique apartments complex in Jolimont, with Pindan appointed to carry out the works.

Iris Residential said Pindan and its Singapore-headquartered owner, Oxley Holdings, were an ideal choice to deliver the project, with the company having a unique mix of local experience and professionalism.

“We have worked closely with Pindan Group for many years and their recent acquisition by Oxley Holdings has demonstrated the level of confidence in the Western Australian residential apartment market,” Iris Residential managing director Simon Trevisan said.

“We are delighted to be partnering with a significant global developer such as Oxley Holdings on this project.”

Mr Trevisan said 20 of the 46 apartments had sold, with prospective buyers urged to act before construction begins to take up the state government’s 75 per cent stamp duty rebate for off-the-plan sales.

He said purchasers could save between $10,000 and $50,000 via the rebate.

“The strong appeal of Jolimont and its position halfway between the CBD and the beach has been a driver of sales to date and with construction about to begin, the development will soon become a reality,” she said.

Pindan has built several Iris Residential projects in the past few years, including its Marina Edge apartments development on the oceanfront in Port Coogee.

Construction of One Mabel Park will begin March 16, while the build is one of several major contracts Pindan has secured after Oxley took control of the company late last year.

Earlier this week, Pindan was appointed by Momentum Wealth to build a $15.5 million apartments complex in Highgate, and earlier this month the builder won a $6.6 million deal to build a new community centre in Kalamunda.

Pindan has also recently secured close to $100 million worth of works in Western Australia’s resources sector, including $90 million worth of works for Rio Tinto and a $7.5 million maintenance deal in the Pilbara for Yara Australia.