This week marked the beginning of construction of Queensland’s first Build to Rent project in Fortitude Valley called Brunswick & Co. This project is being managed by Frasers Property Australia and later in the year, Mirvac will commence construction in Newstead on a second Build to Rent development.
In addition to these two projects already approved, Queensland Treasury is currently assessing additional Build to Rent projects, including a redevelopment of the former Children’s Court on Quay Street. The Property Council have been supporters of this initiative, calling for incentives to encourage future developments, as well establishing a separate asset class for this type of development.
More information can be found here.
If you are interested in finding out more about the Queensland Government’s Build to Rent pilot project, please click here.