The rise of BTR is a significant challenge to the traditional retirement village model – with no DMF and an intergenerational community that offers many of the same services, it is an attractive proposition to the cashed-up Baby Boomers villages are targeting.
US property giant Sentinel has acquired its third Build To Rent site in Australia, buying a 1.44-hectare site at Robina on Queensland’s Gold Coast for an estimated $20 million price tag.
Sentinel – which has another BTR complex at Subiaco in WA and one under construction in West Melbourne – is planning 300 apartments for the site near Robina Stadium (above), and aims for the new development to have carbon neutral certification and a 5-Star Green Star rating.
“We’re committed to delivering sustainable and high-quality living environments that provide renters with a refined rental experience and offer Queenslanders greater housing choices,” said Keith Lucas, Managing Director of Sentinel in Australia (pictured).
“This is especially important as rental vacancy rates in Queensland continue to tighten and areas like Robina expect to see a significant boom in population and jobs growth over the next decade.”
Sentinel last year announced a partnership with Dutch pension fund manager PGGM to develop 2500 new BTR units around the country in a $1.5 billion deal.
