Australian investment manager specialising in the living sector – Cedar Pacific – has announced its second close for its Quay Street Build to Rent scheme in Brisbane.
Global property developer and investor – Grosvenor’s Diversified Property Investments – and private investment office – Moata Ventures – have joined Sumitomo Forestry Australia in the development.
Located within Brisbane’s CBD, Quay Street will comprise 475 apartments, offering residents a range of amenities and a prime location close to public transportation, shops and entertainment options.
Construction has begun under a contract with Hutchinson Builders and completion is expected during Q4 2026.
The transformative development will be under the State of Queensland’s affordable Build to Rent housing pilot program, offering around 50% of the apartments at 25% below market rental levels.
“We are excited to partner with Grosvenor and Moata Ventures on the Quay Street project. Grosvenor’s global experience in the sector as well as a deep understanding of the Australian market will enhance the project greatly, helping us to create a state-of-the-art asset that meets market demand.
“This strategic partnership will allow us to deliver an exceptional Build to Rent community in Brisbane’s growing CBD.”
Bernard Armstrong, CEO, Cedar Pacific
Grosvenor’s Diversified Property Investments business is part of Grosvenor, an international organisation whose activities include global urban property investment. Its global investment portfolio includes logistics, student accommodation, offices, medical properties and life sciences.
Grosvenor is committed to generating strong commercial results, while advancing its social and environmental commitments. The Build to Rent market in Australia is experiencing significant growth, driven by a surge in demand for rental accommodation.
“We are excited to enter the Australian Build to Rent market with this landmark project in Brisbane. The combination of Cedar Pacific’s market leading skills, together with this exceptionally high-quality development opportunity makes this a great investment in the future of Brisbane. We are confident that our partnership with Cedar Pacific will be highly successful.”
Andy Yates, CIO, Grosvenor Diversified Property Investments
Moata Ventures is committed to partnering with highly skilled managers who are aligned to deliver sustainable returns in asset classes that support it’s strategic vision.
“Apart from the compelling dynamics of Build to Rent in Australia’s key cities, we are particularly pleased to be partnering with Cedar Pacific who we know well and who have a clear leadership position across the living sectors in Australia and New Zealand.”
Neil Jones, Principal, Moata Ventures
Cedar Pacific’s track record includes 18 successful residential developments across Australia and New Zealand totalling provision for over 10,000 residents, with each property catering to the evolving needs of today’s renters.
