Introducing the Assemble Model
A new pathway to home ownership
The Assemble Model is a new, more accessible pathway to home ownership – remapping the route to buying a home so it’s within your reach. It’s our response to the very real challenge of housing affordability and quality in our much-loved city, Melbourne.
Home buyers, not property investors, are at the heart of the Assemble Model, to deliver projects where good design, community and sustainability go hand in hand.
The Assemble Model is made possible by taking a socially conscious and patient approach to property development, through the support of capital partners whose annual returns are capped at roughly half that of the ‘off-the-plan’ approach.
After six years exploring the culture of living closer together through our publication Assemble Papers and our first project in Clifton Hill – the new Assemble Model will soon take physical shape at 393 Macaulay Rd, Kensington. We’d love you to join us in building our next community.
How it works
Before we start building you secure a 5-year lease with the option to purchase your home at the end of your lease, by paying a refundable amount of 1% of your home’s purchase price.
Your home’s purchase price is agreed up front and is calculated as today's price with fixed 1.75% increases per year, until you buy it approximately 7 years later (i.e. 2 years of construction and 5 years of leasing). This means you get a foothold in tomorrow’s housing market today, cushioning you from any rapid price increases, while having 7 years to save.
Your rent is agreed up front and is calculated at a market rate (i.e. no more than what you’d be paying around the corner) with fixed 2.5% increases per year over the 5-year lease period. For comparison, the average rent of a house in Melbourne has increased by 4.2% per year over the last 15 years*.
Once the build is complete, you move in (so start planning that housewarming)! A 5-year lease means you have stability while you save. You’ve got time – time to save, plan, get to know your home, your neighbours and your community, before you commit to buy.
If work, life or love takes you elsewhere, no problem. You can always sublet your home for up to two years. If you decide to make a more permanent move, you can exit the lease or decide not to purchase at any time. The refundable amount of 1% will be returned to you minus the cost of repairing any damage – just like a rental bond.
After 5 years, of living ‘try-before-you-buy’ style, your space has become home and you decide to take the plunge to buy. The 1% you paid is deducted from your home’s purchase price. Any increase in market value above your home’s purchase price is to your benefit. With the average house price in Melbourne having increased by 7.6% per year over the last 15 years*; in the end, your home could be worth a lot more than you pay for it.
* Source: Charter Keck Cramer, data from 2003 to 2017
Supporting you along the way
To free up time for work and play, you can call on us to assist with day-to-day chores such as parcel pick-up and drop-off, dry-cleaning, dog walking and apartment cleaning – among others. These services are only a click or a chat away from getting ticked off your ‘life admin’ list! To ensure all building maintenance is stress-free, our building manager will know the building back to front and be on-site to fix any repairs.
During construction and the leasing period, you’ll be offered regular sessions with our financial coach at no charge to help with your budgeting and savings plan. As the end of the five-year lease approaches, our financial coach will help with your mortgage application and preparation for your purchase.
Bulk buying initiatives
People power! Whether it be internet, utilities, farm-direct groceries, insurance or mortgages, Assemble will do the heavy lifting to procure goods and services from a selection of respected suppliers. Together, we’ll leverage economies of scale to offer the best value for money for your everyday needs.
The culture of living closer together
Consultation is key
With each project, we take the time and care to consult with local residents, community groups and local councils well before submitting a town planning application. This ensures our buildings are ‘good citizens’ and that positive contributions to the neighbourhood and city at large are built into the design. The feedback and input received through the consultation and design workshop process shapes the communal spaces and activities in our buildings for the greater good.
Each of our projects incorporates communal areas and amenities: spaces where social and collective culture can thrive. Neighbours are encouraged to share, exchange and interact – all while having a sense of ownership of their own space within the community.
- Ground floor mixed-use: Assemble will operate the ground floor retail space, open to residents and the wider community. Through the community consultation and design workshop phase, the needs and desires of local residents will help inform how this space is activated and operated, from a café to a co-working space, a short-term crèche or a grocery store.
- Multi-purpose workshop: for all the messy jobs you don’t want to do in your home (fixing your bike, washing your dog or painting furniture).
- Communal room: for dining and entertaining, including a BBQ area, stackable furniture and marmoleum flooring to allow for flexible use during the day and night (such as kids play space, birthday parties, film nights or yoga).
- Edible herb garden: no need to buy expensive basil or droopy parsley – with an edible herb garden on the communal rooftop, you can clip off what you need, when you need it.
- Community management: announcements, social events, coordinating the community clubs, managing the communal facilities, whatever it be – our on-site team have it covered.
- Community noticeboard: a place to share events, news, items for sale, community updates and friendly ‘hellos’.
Designing for full lives within small footprints
We adopt a less-is-more approach, where quality is the defining factor. What do we mean by quality? To us, it’s much more than abstract notions of luxury. It’s about liveability – setting a clear set of standards that promote a better lived-in experience, creating homes that are functional and beautiful – ones that we genuinely want to live in ourselves.
Assemble buildings will improve with age through durable materials, flexible spaces, good access to natural light, cross-flow ventilation, strong connection between indoor and outdoor spaces, high quality fixtures and fittings, robust energy systems and integrated landscaping.
Design that is kind to and treads lightly on the planet, is not a nice-to-have, it’s a non-negotiable for Assemble. An environmental conscience guides each of our projects from the outset – we work closely with our consultants to ensure sustainability is embedded throughout the design.
It’s in the interests of us all: renters, owners, neighbours and the planet, that we follow a clear set of design principles to guide us in creating comfortable, responsible and liveable homes.
Assemble is located on the traditional lands of the Wurundjeri people of the Kulin nation. We acknowledge that sovereignty was never ceded and pay our respects to elders past and present, and extend this respect to other Indigenous Australians.