DLA Piper has advised real estate investment firm QuadReal in a joint venture with construction company Lendlease to develop Exhibition Quarter, a $300m Build to Rent development at the Brisbane Showgrounds in Queensland.
DLA Piper’s team was co-led by Stephanie Lambert (Partner) and Emma Kendall (Partner), who were assisted by Michael Orban (Senior Associate) and Pippa Harley (Solicitor).
“We were pleased to advise QuadReal on this significant Build to Rent project. The development is part of a multi-billion-dollar pipeline of Build to Rent projects which are set to transform the Australian property market. We see significant upside for this asset class.”
Stephanie Lambert, Real Estate Partner, DLA Piper
Lendlease and QuadReal announced their partnership to deliver the Build to Rent scheme earlier this year, which is the first of its kind by Lendlease in Australia.
The 37-storey Exhibition Quarter development will deliver 443 new homes – a mix of studio, one-, two- and three-bedroom apartments and will be a fully electric tower located in the Brisbane Showgrounds precinct. The scheme is aiming to target a 5 Star Green Star Buildings Version 1 rating.
Exhibition Quarter will include a variety of amenities including a 25-metre lap pool, studio and leisure facilities. The development broke ground last month and is expected to complete in late 2025.
Emma Kendall, Corporate Partner, DLA Piper
“Australia’s fledgling Build to Rent sector has a long way to run, but global institutional investors are eager to secure high-quality projects. The transaction demonstrates DLA Piper’s expertise in complex structured joint ventures that support these investments.”
