Lendlease and QuadReal Showcase First BTR Project in Brisbane
Posted on 01/31/2023
Lendlease and QuadReal Property Group (QuadReal) in partnership will deliver their first build-to-rent (BTR) residential apartment building at Brisbane Showgrounds in Queensland. They will develop a 443-unit commercial rental tower at Brisbane Showgrounds. Construction will start in early 2023 and residents can take occupancy in late 2025. Brisbane Showgrounds (formerly known as the Brisbane Exhibition Ground) is located at 600 Gregory Terrace, Bowen Hills, Brisbane, Queensland, Australia and was established in 1875.
From 2019 to January 2023, Lendlease has delivered more than 2,600 residential-for-rent apartments internationally, with another 1,500 in delivery in key cities including Chicago, New York, and London. Lendlease’s global build-to-rent pipeline is approximately A$ 28 billion. Lendlease is actively pursuing other key build-to-rent opportunities in Australian capital cities with investors, through both Lendlease’s urban development pipeline and other market opportunities.
QuadReal, a unit of British Columbia Investment Management Corporation, will be investing side by side with Lendlease. Lendlease will also act as development and investment manager.
Keywords: Lend Lease, British Columbia Investment Management Corporation.
