More BTR projects are emerging as real competitors to retirement village marketers. With figures developed by DCM showing that a retiree taking up a BTR home versus a village home will be substantially better off in terms of cash, a 400-apartment vertical build to rent development application will be the biggest build to rent project in Queensland if approved.
Property Projects Australia has lodged the DA for the site in Fortitude Valley, an inner suburb of Brisbane. The landowner is listed on RP Data as Gantry Nominees Pty Ltd, which lists directors including former Propertylink chairman Peter Lancken.
Propertylink, which was bought by integrated industrial developer ESR for $723 million in 2019, won approval for a 230-apartment development on the site in 2014.
If approved, the 400 units would be ahead of Frasers Property’s Brunswick & Co, which has 366 apartments, and Mirvac’s LIV Anura, which is 395 apartments.
Designed by Telha Clarke, the design will transform the adjacent streetscapes with native landscaping, an urban forecourt and significant verge widenings. The ground plane would feature three retail tenancies.
The development would comprise 249 one-, 122 two- and 29 three-bedroom apartments, with rooftop amenities for the exclusive use of residents, which include a pool terrace, bar, cinema, gym and co-working area.
