Lendlease signs Japanese partner for $500m build-to-rent tower

Michael BlebyDeputy property editor

Oct 9, 2024 – 11.40am

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Lendlease will partner with Nippon Steel Kowa Real Estate to deliver a new $500 million, 499-unit build-to-rent tower in Melbourne’s Docklands that is due to be completed in early 2026 and will be Lendlease’s third rental-housing project in Australia.

ASX-listed Lendlease will develop, build and act as investment manager for the 899 Collins Street project, in which the Japanese partner – created in 2012 through a merger of Kowa Real Estate and steelmaking giant Nippon Steel’s property development arm – will take a 40 per cent stake.

Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne.