26.06.23
CDL Australia bolsters portfolio with first build-to-rent projects
CDL Australia has announced its entry into the build-to-rent sector with plans to start construction on more apartments across Brisbane and Melbourne within the next few months.
The build-to-rent projects are located at Toowong in Brisbane’s inner west and Melbourne’s thriving Fishermans Bend precinct, yielding around 320 and 240 apartments respectively, and will help to alleviate the current rental accommodation shortages in these regions.
Since 2015, CDL Australia has been establishing 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 Toowong build-to-rent project is located at 58 High Street in the premier riverside suburb, offering a range of apartments designed with a subtropical feel in collaboration with leaders in property, design and development.
Just four kilometres from the CBD and in close proximity of The Aviary, Toowong’s soon-to-be new town centre, the project will provide an exceptional array of luxury amenities for residents, including a rooftop with pool and dining areas looking towards the city.
CDL’s first Melbourne build-to-rent project is located at 203-205 Normanby Road in Fishermans Bend and will feature 240 apartments with a mix of configurations and luxury resident recreational facilities, located just 2 km from Melbourne’s CBD.
Planning for both projects has reached an advanced stage with construction expected to start in the second half of 2023.
Head of Development, CDL Australia, Cameron Laird, said the Group was very positive about the future of the build-to-rent sector in Australia.
“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,” he said.
“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.”