Australia: Lendlease and QuadReal Property Group (QuadReal) in partnership will deliver their first BTR residential apartment building at Brisbane Showgrounds in Queensland.
QuadReal will be managing and developing a global portfolio of 60,000 residential units to the partnership, investing side by side with Lendlease.
Since 2019 Lendlease has delivered more than 2,600 residential-for-rent apartments internationally, with 1,500 in cities such as Chicago, New York and London.
The purpose-built Brisbane development will feature 443 BTR residences in a mix of studio, one-, two-, and three-bedroom apartments in a 37-storey building.
Residents will have access to a 25-metre lap pool with beach edge, podcast / music recording studios, BBQ pavilion, fully equipped gym, co-working facilities, outdoor spa retreat, dog wash facilities, yoga room and resident lounges. The development will also include an on-site service team with a 24-hour concierge service. Moreover, the building will be fully electric.
Construction is planned to start early in 2023 and residents can start living there by 2025.
Dale Connor, CEO, Lendlease Australia, said: “In the Australian market we believe there’s strong demand for long-term, premium rentals in quality locations. Our partnership with QuadReal will bring the best of our shared global experience and capability to deliver one of the finest examples in Australia.”
Peter Kim, managing director, QuadReal Asia said:“The residential build-to-rent sector has been one of QuadReal’s strongest global convictions for some time now given its resiliency through economic cycles and the community benefit of the commitment to increase the places for people to live.”
