First Entry into a Build-to-Rent Project in Australia
Development of a large-scale rental 499-unit housing complex to meet growing demand from overseas migration and international students

Tokyo Tatemono Co., Ltd. (Headquarters: Chuo-ku, Tokyo; Representative Director, President and CEO: Katsuhito Ozawa; hereafter, “Tokyo Tatemono”) is pleased to announce its participation in the build-to-rent development project, 899 Collins Street, in Melbourne, Australia (hereinafter, the “Project”).
This marks Tokyo Tatemono’s first entry into a rental housing project in Australia, joining a partnership established in October 2024 by Lendlease Corporation Limited (“Lendlease”) and Nippon Steel Kowa Real Estate Co., Ltd (“NSKRE”).

This Project comprises a total of 499 units in a 24‑story building, located in the Victoria Harbour waterfront precinct in Docklands, a newly emerging area on the doorstep of Melbourne’s Central Business District (CBD). The surrounding area hosts a concentration of offices, residential complexes, and commercial facilities, and is expected to benefit from further enhancements in convenience and amenity as ongoing development progresses. Construction commenced in October 2024 and is advancing towards targeted completion in January 2027.
While Australia’s population growth rate is projected to be higher than in the U.S. and India, limited housing supply has persisted, leaving the country with a chronic housing shortage. In Melbourne, where the Project is located, demand for high-quality and secure rental housing has been increasing, particularly with the inflow of overseas migration. By delivering high-quality and comfortable rental housing, Tokyo Tatemono will contribute to boosting Melbourne’s housing supply alongside Lendlease and NSKRE.
Tokyo Tatemono Group positions overseas expansion as a key strategy in its long-term vision for 2030 “Becoming a Next-Generation Developer,” and plans to invest ¥110 billion in overseas operations during the current medium-term business plan (fiscal years 2025–2027). In Australia, the Group has previously participated in a for-sale condominium development project*1 designed for downsizers moving from suburban houses to compact urban apartments, as well as a strata-titled warehouse development project*2 developed to meet the growing demand from small and medium-sized enterprises for operational bases driven by the expansion of the e-commerce market. Looking ahead, Tokyo Tatemono will continue to focus primarily on asset-turnover business opportunities, while centering its efforts on collaboration with leading local partners.

• 1 See our press release “Entry into Residential Development in Australia”: https://tatemono.com/english/news/20241224.html

• 2 See our press release “Tokyo Tatemono Participates in Strata-Titled Warehouse Development Projects for the First Time”: https://tatemono.com/english/news/20250529.html

Outline of the Project

Location

About the Local Partner: Lendlease Corporation Limited

Lendlease is a market-leading Australian real estate group headquartered in Sydney and listed on the Australian Securities Exchange. Its core capabilities are reflected in the operating segments of Investments, Development and Construction, and its experience of more than sixty years as a creator and operator across international markets sets it apart. As a leader in major urban development, it has delivered Sydney’s Barangaroo South precinct and Melbourne’s Victoria Harbour, with current development projects in delivery including Singapore’s Comcentre and New York’s The Riverie.


Note: The images and facility details presented in this release are based on current plans and may be subject to change.
This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.