25 August 2023

Aqualand in planning to add build-to-rent to its property offering

Aqualand is in the early stages of planning our first build-to-rent (BTR) project, this marks an important addition to our portfolio as we aim to contribute to the alleviation of Sydney’s high-quality rental shortage.

The project, which is planned to be built on the site of Aqualand’s existing commercial building at 146 Arthur Street in North Sydney, has recently had a Secretary’s Environmental Assessment Requirements (SEARs) application issued.

The proposed 40-storey project will see approximately 300 apartments available for rent above a lively ground floor retail and commercial precinct, in the heart of the rejuvenated North Sydney CBD, just 400 metres from North Sydney Station and 250 metres from the future Victoria Cross Metro Station.

We believe the inclusion of build-to-rent into our growing range of property offerings can play a pivotal role in easing the restricted rental market, which is an increasingly important segment of the local housing sector, by helping to address the rising demand for rentable, high quality and professionally managed residences.

Jin Lin, Aqualand’s Group Managing Director, said “We look forward to being committed to our future residents by providing them with a high-quality rental product with a large range of amenities and services designed to elevate their lifestyle experiences and create a strong sense of community, including a sky deck, lounge area/bar, pool, gym, workspaces and communal dining room.

“Given the model’s popularity overseas, we’re keen to see it grow here, where there’s a growing need for local residents to secure long-term tenancies that offer a large range of amenities,” said Mr Lin.

“Whilst the preference for rented accommodation has traditionally been strong with younger generations, the demand for high quality rental product now spans across multiple generations.

“We are already deeply committed to the North Sydney council area, as evidenced by our AURA by Aqualand residential project at 168 Walker Street, which is set to open in mid-2024, and our award-winning BLUE at Lavender Bay which was completed in 2021. We also have other commercial assets in North Sydney, including 15 Blue Street and 132 Arthur Street, which are potential future redevelopment sites. Etymon Projects, the lifestyle and hospitality brand in the Aqualand Group, is bringing world-class hospitality venues to the North Sydney market with Loulou Bistro in Milsons Point, Poetica opening soon at 1 Denison Street and 4 new venues planned at AURA to open next year.

“These key projects are set to make a significant contribution to the vibrancy of the 18-hour economy in this important CBD precinct, which is in the midst of a major rejuvenation.”

Read the full article in The Australian.