Frasers Property Australia plans to divest its Brunswick & Co Build to Rent development in Brisbane’s Fortitude Valley. Construction began on the scheme in 2022.
Designed by COX Architecture, Brunswick & Co will comprise 366 apartments. Of these, 144 will remain as subsidised rental units under a state partnership, continuing the initiative’s aim to address housing affordability.
The 1,900 sqm of amenities will include a pool, dog park, co-working spaces, cinema room, and fitness facilities. These will help create what Frasers Property terms ‘the World’s Friendliest Hotel’.
“This is a very welcome step towards creating a new way of delivering housing options for Queenslanders that will deliver high-quality rental accommodation and provide greater security of tenure.”
Chris Mountford, Executive Director, Property Council Queensland
Brunswick & Co also aims to integrate retail and lifestyle elements with the residential living element. Ground-floor retail and café spaces aim to reflect Brunswick Street’s lively atmosphere, while the rooftop retreat on level 25 will offer panoramic views of Brisbane’s skyline.
CBRE is managing the sale process as the Build to Rent sector continues to grow. CBRE projects that institutional Build to Rent developments will account for 22% of Australia’s new apartment supply by 2029 – equating to approximately 11,000 units annually.
“Consistent with our capital recycling efforts, we are looking to reinvest in new projects where we can leverage our mixed-use expertise in the core eastern seaboard markets.”
Cameron Leggatt, CEO, Frasers Property Australia
