GEON Puts Albion Exchange BtR to Market

Albion developer GEON has listed the Albion Exchange development site with Savills Australia as a build-to-rent freehold land sale or fund-through as it seeks an investor for the project. It’s the first stage of a suburb-shaping 10-stage redevelopment of the 4118sq m site nextt to the Albion train station, 5km north-east of the Brisbane CBD. The project slated for the site would deliver 1000 homes, 17,000sq m of commercial space, 8000sq m of retail and food and beverage, and 6000sq m of public and green spaces. The build-to-rent component comprises two residential towers with 327 apartments, retail space and amenities, including a gym, outdoor pool and wellness facilities. GEON’s build-to-rent operating arm, GEON Living, has been involved in the design process. GEON Living chief executive Dan Moore said the development came at a critical time for Brisbane ’ s housing shortage. “GEON Living was created to meet the growing market demand in the build-to-rent and related sectors, and this project reflects our commitment to creating vibrant, sustainable neighbourhoods,” Moore said. “By integrating state-of-the-art amenities with a strong sense of community, we are dedicated to delivering a high-quality rental experience that not only addresses demand but also enhances the lives of our residents.” ▲ GEON Living, the build-to-rent operational arm of GEON, has overseen the design of the project and is seeking an investor for its development. Savills Australia head of operational capital markets Conal Newland said GEON was seeking an investor “to fund the delivery of the first stage” of the transit-oriented development. “The project reflects an exceptional opportunity to partner with the experienced GEON team to deliver an exemplary build-to-rent development in a prime location that is poised for growth, with significant inward investment in key infrastructure projects that will transform this area of Brisbane,” Newland said. The two towers would rise up to 20 storeys to accommodate 327 multi-family apartments ranging from studios up to four-bedroom configurations. GEON is planning to submit a revised build-to-rent scheme for planning approval early next year, with a view to commencing main siteworks in early 2026 and practical completion at the tail end of 2027. The wider masterplanned precinct is a 10-year vision. The developer also put forward plans for North Queensland’s first build-to-rent development for a site in Townsville. Plans have been filed for two Cox Architecture-designed towers comprising 294 apartments and 652sq m of retail, commercial and community spaces, which would be co-located with an existing retail centre.

GEON Puts Albion Exchange BtR to Market

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