Japan’s Tokyo Tatemono Joins Lendlease Melb BtR Scheme

Lendlease has secured a new international partner for its $500-million build-to-rent waterfront development at Melbourne’s Docklands.

Tokyo Tatemono, a Japanese real estate company listed on the Tokyo Stock Exchange and included in the Nikkei 225 index, will acquire a strategic minority equity stake from Lendlease in the project.

It is Tokyo Tatemono’s first investment in Australian rental housing and its first collaboration with Lendlease.

In October of last year it was announced Nippon Steel Kowa Real Estate would partner with Lendlease on the development, taking a 40 per cent stake in the asset.

The 24-storey scheme under construction at 899 Collins Street comprises 499 build-to-rent apartments, including studios, one, two and three-bedroom layouts.

Resident amenities will include an outdoor pool, rooftop barbecue area, dog park, cinema, wellness rooms, music and podcast studios, and private dining spaces.

Completion is planned for early 2027.

The building will be all-electric and aims to achieve a 5-star Green Star rating and 7-star NatHERS rating.

The project is on the western edge of Melbourne’s CBD within Lendlease’s Victoria Harbour precinct.

▲ A rendering of 899 Collins. The build-to-rent tower is under construction in Melbourne.

Lendlease is the developer, builder and investment manager for the project.

The company has a global build-to-rent portfolio of about 2800 apartments under delivery in Australia and the US.

It also manages about 2400 apartments across the UK and US.

Lendlease chief executive, development, Tom Mackellar said the addition of Tokyo Tatemono reflected the strength of their shared vision and confidence in the sector.

He said that the partnership highlighted the strength of Lendlease’s international network and ongoing demand for high-quality development opportunities.