Construction has officially commenced on the Fender Katsalidis-designed build-to-rent (BTR) tower at Melbourne Quarter, with Lendlease and Daiwa House Australia delivering 797 residences in the heart of the transformational precinct.
Located on Flinders Street, the $650 million development is Lendlease’s maiden Melbourne BTR project. Spanning 45 storeys, a mix of studio, one, two and three-bedroom apartments will be made available to potential tenants, who will take occupancy in 2026. The tower is the final piece of the Melbourne Quarter precinct, which will be a place of work and home to nearly 18,000 Melbourne natives.
Amenities on offer are first rate, with a 25m lap pool, bowling alley, karaoke and music studio, co-working space, virtual sports and games rooms, cinema, fully equipped gym with spa, sauna and steam rooms, with a dedicated on-site concierge to be utilised by future residents.
“In Australia we’re seeing strong demand for long-term, premium rentals in quality locations, and the State Government has recognised the early potential for build-to-rent in Victoria, making it an attractive destination for developers and investors,” says Lendlease Australia CEO, Dale Connor.
“Our development partnership with Daiwa House, together with the support from our government partners, will bring our shared global BTR capability to the local market, in what is set to be one of the city’s finest examples in our thriving and vibrant Melbourne Quarter precinct.”
The all-electric building has been designed by FK to achieve a 5 Star Green Star Design & As Built v1.3 rating.
Koji Morishige, CEO Daiwa House Australia, says the developer is delighted to have seen its inaugural Australian BTR project complete another milestone.
“Today’s sod-turn event marks a huge milestone in our commitment to deliver to the city of Melbourne this build-to-rent opportunity in such a prime location, the Melbourne Quarter precinct, with our partner Lendlease and the support of the State Government and Development Victoria,” he says.
“Once complete this signature address will be more than a place for residents to call home. It will be a place of endless possibilities and choices given the accessibility of residents to a variety of first-class amenities and communal spaces.”
