Iris Residential

What Iris Residential does

Iris Residential is a family-owned apartment developer based in Perth, Western Australia, founded in 2001. The company develops energy-efficient apartment, terrace home, and townhouse projects exclusively for owner-occupiers in established Western Australian suburbs, deliberately avoiding greenfield developments and pursuing sites only where the founders would themselves reside. Across 28 completed projects, Iris Residential has delivered over 1,000 apartments with cumulative project value exceeding AUD $1 billion, with a current pipeline of more than 290 upcoming apartments.

The company's core product is mid- to large-scale multi-residential developments (typically 30–160 apartments) incorporating sustainability-led design features including cross-ventilation architecture (achieving true cross ventilation in over 92% of residences), high NatHERS energy efficiency ratings (averaging 8.05 stars at The Terraces, Claremont), integrated solar PV systems, EV charging infrastructure, and selective heritage-landmark integration (e.g., the 1962 British Empire and Commonwealth Games scoreboard at Empire Perry Lakes). Notable completed projects include Shenton Quarter (157 apartments, 2024), Amara City Gardens (124 apartments, 2022), Empire Perry Lakes (123 apartments), Marina Edge (109 apartments, 2017), and Pearson and Victoria (145 apartments, 2011).

Iris Residential operates a direct-to-consumer sales model, with prospective buyers engaging directly via the Perth headquarters at Level 13, 37 St George's Terrace, supported by a content-led website and a Facebook presence. Pricing is not publicly disclosed and is negotiated on a per-buyer basis. Revenue is generated through one-time apartment sales upon project completion, with no recurring software, subscription, or service revenue streams. The company maintains a deliberate 'what you see is what you get' positioning, showcasing completed projects alongside artist impressions to differentiate from investor-grade apartment marketing. The business is privately held with no disclosed parent company, subsidiaries, institutional investors, or external funding rounds.

Name

Iris Residential

Legal name

Iris Residential

Website

https://irisresidential.com.au

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Iris Residential is a family-owned Perth-based apartment developer, founded in 2001, that builds energy-efficient apartments, terrace homes, and townhouses for owner-occupiers in established Western Australian suburbs. The company has delivered 28 projects comprising over 1,000 apartments with $1 billion+ cumulative value, plus a 290+ apartment pipeline.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Residential property development
• Apartment construction
• Sustainable housing
• Owner-occupier apartments
• Real estate development

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Apartment Sales: Revenue generated from the sale of apartments and terrace homes to owner-occupiers. Each project is developed and sold upon completion. The company has completed over 1000 apartments across 28 projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Iris Residential develops and sells energy-efficient apartment, terrace home, and townhouse projects to individual owner-occupiers in established Perth suburbs. The company sources sites, designs sustainable residential buildings with features such as cross ventilation, solar PV, high NatHERS ratings, and EV charging, and sells completed units directly to buyers upon project completion. Across 28 completed projects, it has delivered over 1,000 apartments with a total project value exceeding $1 billion AUD.

Product overview

Iris Residential is a family-owned Western Australian apartment developer that constructs residential developments across Perth. The company operates a portfolio of apartment and townhouse projects across Western Australia, including completed developments such as Shenton Quarter (157 apartments), Amara City Gardens (124 apartments), Marina Edge (109 apartments), Empire Perry Lakes (123 apartments), and numerous others. The company also develops commercial properties. Their portfolio includes 28 completed apartment projects with over $1 billion in project value and over 1000 completed apartments, with over 290 upcoming apartments. Sustainability features prominently in their developments, including solar PV systems, cross ventilation design, NatHERS energy efficiency ratings, and electric vehicle charging infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Shenton Quarter Residential apartment development in Shenton Park, Western Australia, featuring 157 apartments with 1, Loft, 2 & 3 bedroom configurations, completed in 2024. Targeted at owner-occupiers seeking community-oriented, multi-generational living.
• Amara City Gardens Residential apartment development in Booragoon, Western Australia, comprising 124 apartments with 1, 2 & 3 bedroom options, completed in 2022.
• One Mabel Park Residential development in Jolimont, Western Australia, featuring 46 apartments.
• Marina Edge Waterfront apartment development in North Coogee, Western Australia, with 109 apartments ranging from 1 to 3 bedrooms, completed in 2017.
• Empire Perry Lakes Residential apartment development in Floreat, Western Australia, featuring 123 apartments with integrated photovoltaic cells and sustainable design, including a heritage scoreboard from the 1962 British Empire and Commonwealth Games repurposed as a solar hub.
• Podium Perry Lakes Terrace home development in Perry Lakes area, Western Australia, offering 33 terrace homes with 2 & 3 bedroom configurations, completed in 2015.
• Broadway Apartment development in Ellenbrook, Western Australia, comprising 40 apartments with 1 & 2 bedroom units.
• Ocean Edge Residential development featuring 101 apartments, completed in 2014.
• Madison Square Residential development comprising 23 apartments.
• Central Park Apartment development featuring 47 apartments.
• Pearson and Victoria Residential development in Brunswick, Western Australia, featuring 145 apartments, completed in 2011.
• Sovereign Place Residential development in East Perth, Western Australia, comprising 48 apartments, completed in 2010.
• Juniper Apartments Residential development in Midland, Western Australia, featuring 41 apartments, completed in 2008.
• Menzies Mews Townhouse development in North Perth, Western Australia, comprising 16 townhouses, completed in 2005.
• Dolphin Bay Mixed residential development in Bunbury, Western Australia, featuring 45 apartments and townhouses, completed in 2004.
• Marlston Quay Residential development completed in 2003.
• Kensington on Grand Residential development in Joondalup, Western Australia, featuring 56 apartments.
• Lake Reflections Residential development featuring 87 apartments.
• Nottinghill Apartments Apartment development comprising 32 apartments, completed in 2002.
• The Terraces, Claremont Sustainability-focused apartment development in Claremont, Western Australia, achieving an 8.05 Star Average NatHERS rating (ranging from 6.4 to 9.7), 35% reduction in energy use, cross ventilation in over 92% of residences, 30kW Solar PV system, 40% reduction in internal lighting energy consumption, and electric car charger cables included for the majority of apartments.

Quantifiable outcome

• 35% reduction in energy use at The Terraces, Claremont compared to standard building requirements
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators5 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Meriton: Australia's largest apartment developer, primarily Sydney-based. Comparable as a high-volume for-sale apartment developer with direct-to-buyer sales model and established brand reputation for delivery.
• Lendlease: Large diversified Australian developer with residential apartment development as one of multiple business lines. Comparable as a counterpart in the Australian for-sale apartment market, though at vastly larger scale.

Direct peers

• Hickory Group: Melbourne-headquartered residential apartment developer with strong focus on design quality, sustainability, and inner-urban infill sites. Comparable as a design-led for-sale apartment builder competing on similar product attributes.

Regional players

• Primewest: WA-based property group with residential development exposure. Comparable as a Western Australian-focused, privately-controlled developer operating in Perth's apartment and townhouse market.
• Hawaiian: Western Australian property developer with a long history of residential and mixed-use projects in Perth. Comparable as a WA-rooted, privately-held developer operating in similar geographic and demographic markets.
• Edge Visionary Living: Perth-based residential developer with a focus on design-led apartment projects in established suburbs. Comparable in geographic focus, target buyer (owner-occupiers), and design-quality positioning.
• Blackburne Property Group: Perth-based property developer focused on medium-to-high-density residential projects in established WA suburbs. Highly comparable to Iris in geography, scale, and infill-suburb strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/irisresidential
• LinkedInlinkedin.com/company/iris-residential

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iris Residential