The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
2
print
Print
Build-to-RentTaryn ParisMon 06 Mar 23

Super-Backed Assemble Boosts Melbourne Pipeline

Affordable build-to-rent developer Assemble has added more firepower to its pipeline with the AustralianSuper-backed acquisition of three new sites across Melbourne for its build-to-rent-to-own model.

The superannuation fund has previously backed the developer’s Assemble Futures projects, which aims to develop a pathway to home ownership for moderate-income households.Ā 

Assemble’s builder partner, Hacer Group, recently broke ground on its first super-backed build-to-rent-to-own project, a 199-apartment development at 15 Thompson Street, Kensington.Ā 

AustralianSuper also provided cornerstone investment in the 173-apartment development at 4 Ballarat Street, Brunswick.

Assemble managing director Kris Daff said the superannuation fund had extended its funding to acquire three new sites, bolstering the Assemble Futures pipeline with a further 1000 homes.Ā 

The investment would help Assemble to tackle ongoing affordable housing challenges and facilitate more people into home ownership, Daff said.

ā€œBreaking ground on Assemble Futures project at 15 Thompson Street means more people will have the option to live in and eventually own environmentally sustainable, high-quality homes in a well-connected suburb.

ā€œOur residents will be able to save and budget for their first home with certainty, without the worry of volatile rental market fluctuations, or being priced out of the market.ā€

null
ā–² Assemble managing director Kris Daff said the investment from AustralianSuper would enable more people to own a home.

The three new sites were acquired with planning approvals already in place, including a 7246sq m site at 370 Victoria Street at Brunswick, a 6632sq m site at 519-547 Sydney Road, Coburg, and a 13,814sq m site at 11-19 Whitehall Street at Footscray, once held by Banco Properties.Ā 

AustralianSuper tipped in $364 million for the acquisitions for Assemble Futures, of which it has a 25 per cent stake.

AustralianSuper head of property Bevan Towning said the investment would help the superannuation fund’s members to ā€œachieve their best financial position in retirementā€ while helping to provide a pathway to home ownerhsip.

ā€œWe are delighted to have committed to a strong pipeline of future developments which will not only benefit residents but help us to deliver on our purpose for members,ā€ Towning said.

ā€œThe Assembe Futures model provides residents with much-needed certainty in terms of future purchase price, the security of a long-term rental agreement and flexibility to rent now and purchase later if they wish.ā€

The build-to-rent-to-own developments at 15 Thompson Street and 4 Ballarat Street were slated for competition mid-2024, while the three new projects are expected to be completed by 2027.Ā 

ResidentialBuild-to-RentAustraliaMelbournePlanningPlanningDeal
AUTHOR
Taryn Paris
More articles by this author
ADVERTISEMENT
TOP STORIES
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Exclusive

Soheil Abedian: What’s Driven the Man Who’s Transformed a City

Phil Bartsch
7 Min
Exclusive

Robots Not a Miracle Cure for Housing Productivity Crisis

Vanessa Croll
6 Min
Exclusive

Where 600 Wealthy Families Are Putting Their Millions

Taryn Paris
6 Min
Brique Projects EDM
Exclusive

Brique Thrives in Cauldron of SE Queensland Development

Clare Burnett
7 Min
View All >
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
Salvos Coliving EDM
Residential

Investa, Salvos Reveal Co-Living Plan for Sydney CBD

Clare Burnett
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

The super-backed developer and investor is planning a $1.1-billion precinct across the 62ha site…
LATEST
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Salvos Coliving EDM
Residential

Investa, Salvos Reveal Co-Living Plan for Sydney CBD

Clare Burnett
2 Min
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

2 Min
Queen's Whard EDM
Hotel

Star Back to Square One After Queens Wharf Deal Collapses

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/australiansuper-assemble-boosts-melbourne-btr