Housing News

Lendlease partners with Japanese for a $500M Build to Rent development in Melbourne

Oct 15 2024 Updated October 15, 2024

Ian Horswill

1 min read

The ASX-listed property group announced it has struck a deal with Nippon Steel Kowa Real Estate to deliver a new $500 million, 499-unit tower in Melbourne’s Docklands that is due to be completed in early 2026.

Lendlease will develop, build and act as investment manager for the 24-floor project of one-two- and three-bedroom apartments, in which Nippon Steel Kowa Real Estate will take a 40% stake.

Lendlease and Japanese developer Daiwa House are building Melbourne Quarter BTR with 797 one, two and three bedroom-apartments over 45 levels, and Lendlease and the Royal National Agricultural ＆ Industrial Association’s 443-unit Exhibition Quarter BTR 37-level project at Brisbane Showgrounds, Bowen Hills, is also being constructed with partner QuadReal Property Group.

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