Exhibition Quarter
In June, the started of works at Lendlease and QuadReal Property Group’s first Build to Rent apartment building – Exhibition Quarter – was marked by Federal Treasurer Hon Dr Jim Chalmers MP. Completion of the scheme is expected in late 2025.
The development at Brisbane Showgrounds in Queensland will deliver 443 homes in a mix of studio, one-, two- and three-bedroom apartments over 37 storeys. Health and wellbeing focussed amenities and communal spaces at Exhibition Quarter include a 25m lap pool with beach edge, a fully equipped gym, an outdoor spa retreat and a yoga room – as well as podcast and music recording studios, a BBQ pavilion, co-working amenities, dog wash facilities and resident lounges.
Boyd Village
Developer PDG started construction on the Boyd Village Build to Rent development in Southbank, Melbourne, with a ground-breaking ceremony taking place in February. Completion is expected in 2025, led by PDG Construction Manager Josh Griffiths and builder Hamilton Marino.
PDG is partnering with Investa on the 434-apartment development, which will include 40 affordable rental dwellings earmarked for key workers. Situated adjacent to the Boyd Community Hub and located within the new Boyd Park, Boyd Village will build upon a former school site and its current role as a dynamic community centre in one of the city’s popular inner suburbs.
Thompson Street
Construction commenced at developer and operator Assemble’s second Assemble Futures Build to Rent scheme in July. The scheme is the first in the Assemble Futures pipeline to receive equity investment from Australia’s largest superannuation fund AustralianSuper.
At Assemble’s 199-apartment development at 15 Thompson Street in Kensington, works began with builder partner Hacer Group. The development is expected to complete by mid-2024.
Indi Footscray and Indi Southbank
Construction is underway at the Indi Footscray and Indi Southbank Build to Rent schemes for Investa’s Build to Rent platform Indi. Totalling 1,136 units, the Investa launched brand will be working alongside investor and developer Oxford Properties on the latest schemes.
Situated adjacent to the Footscray train station and market, the Indi Footscray scheme will deliver 702 units across three buildings and will offer a mix of one-, two- and three-bedroom apartments. The Indi Southbank scheme will deliver 434 apartments, including 40 affordable rental homes earmarked for key workers.
South Yarra
Works at the South Yarra scheme began in August, and will be Greystar’s second Build to Rent development under construction in Australia. The development at 14-16 Yarra Street is located less than four kilometres from Melbourne’s CBD and was approved in 2021.
The A$500m scheme will deliver 617 apartments, 2,000 sqm of office space, and ground-level retail across two towers that will showcase the emerging rental housing typology. With the development, Greystar is targeting a five-star Green Star Design and As-Built certification. The South Yarra scheme is set to create over 1,000 construction-related jobs, with almost 40 permanent jobs generated upon expected completion in 2025.
Macauley Road
In September, developer Assemble officially began construction on its 402 Macauley Road Build to Rent scheme in Kensington. It was funded by an initial $100m investment by HESTA and will be led by Assemble’s trusted builder partner Hacer Group.
The 362-apartment development will feature a diverse range of rental homes, including affordable, social, market and specialist disability housing. This milestone scheme is the first of five Build to Rent projects that Assemble is delivering in partnership with specialist affordable housing fund manager SHP, whose team are helping to orchestrate crucial investment solutions into Australian housing.
