CDL Australia is set to bolster its Australian Build to Rent portfolio with plans to start construction on new Build to Rent homes across two projects in Brisbane and Melbourne over the coming months. Both schemes are at the advanced stage of planning, with construction expected to start in the second half of 2023.
The two Build to Rent projects are in Toowong in Brisbane’s inner west and Melbourne’s thriving Fishermans Bend precinct. Combined, they will deliver over 500 new homes, helping to alleviate the current rental accommodation shortages in these regions.
Located at 58 High Street in the premier riverside suburb, the Toowong Build to Rent scheme will deliver 320 apartments – that have been designed with a subtropical feel in collaboration with leaders in property, design and development.
Located close to Toowong’s soon-to-be town centre The Aviary, and four kilometres from the CBD, the new development will offer a range of luxury amenities including a rooftop with pool and dining areas looking towards the city.
Located at 203-205 Normanby Road in Fishermans Bend, the second Build to Rent development is CDL’s first Melbourne project. The scheme will deliver 240 new apartments in a mix of configurations. Residents benefit from luxury recreational facilities just two kilometres from Melbourne’s CBD.
“We are extremely pleased with the strong foothold in the Australian property sector gained over the past four years and the opportunity to leverage the rising demand for rental accommodation with Build to Rent projects in Brisbane and Melbourne.”
“Our parent company is progressing a strategy to expand its presence in the private rented sector globally with recent acquisitions in both the United Kingdom and Japan. The Group’s overall portfolio in this sector now comprises 2,228 dwellings with a further 2,368 beds in the purpose-built student accommodation sector.”
Cameron Laird, Head of Development, CDL Australia
City Developments Limited is CDL Australia’s parent company. Since 2015, CDL Australia has established a significant foothold in the Brisbane and Melbourne markets, bringing the Group’s vision of creating high quality, innovative and sustainable spaces to Australia. The Group are very positive about the future of the Australian Build to Rent sector.
In the UK, Build to Rent operator Native Residential has launched the first phase of apartments at The Junction development in Leeds, on behalf of City Developments Limited (CDL).
