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Building on the successful completion of their pilot project in Kensington in 2022,
innovative build-to-rent developer and operator Assemble have commenced construction
on 199 apartments at their second Assemble Futures build-to-rent-to-own project at 15
Thompson Street, Kensington with builder partner Hacer Group.
The project is the first in the Assemble Futures pipeline to receive equity investment from
AustralianSuper, Australia’s largest superannuation fund. Assemble Futures is a pathway to
home ownership for moderate income household buyers.
AustralianSuper has also committed to the third Assemble Futures project, with 171
apartments at 4 Ballarat Street, Brunswick.
In addition, AustralianSuper recently agreed to support the acquisition of three new
Assemble Future sites in Victoria, providing over 1000 additional Assemble Futures homes
in central Melbourne, taking the total portfolio to 1500.
These new planned developments include:
• 370 Victoria Street Brunswick, site area 6,982 sqm
• 519-547 Sydney Road Coburg, site area 6,623 sqm
• 11-19 Whitehall Street Footscray, site area 13,815 sqm
Assemble Managing Director Kris Daff said: “AustralianSuper has renewed their
commitment to Assemble’s housing mandate with these three major acquisitions, an
important step forward as we bring our mission – to tackle the ongoing affordable housing
challenges and support more people into home ownership – to life .
“Breaking ground on Assemble Futures project at 15 Thompson Street means more people will have the option to live in and eventually own environmentally sustainable, high-quality homes in a well-connected suburb.
“Our residents will be able to save and budget for their first home with certainty, without
the worry of volatile rental market fluctuations, or being priced out of the market.”
AustralianSuper Head of Property Bevan Towning said: “Through the unique Assemble
Futures model AustralianSuper is helping to provide more Australians with an important
pathway to home ownership while delivering on our purpose to help members to achieve
their best financial position in retirement.
“The Assemble Futures model provides residents which much-needed certainty in terms of
future purchase price, the security of a long-term rental agreement and flexibility to rent
now and purchase later if they wish.
“Residents also receive the added benefit of financial coaching and education, which helps
to prepare them for the step into future home ownership.
“We are delighted to have committed to a strong pipeline of future developments which
will not only benefit residents but help us to deliver on our purpose for members.”
15 Thompson Street and 4 Ballarat Street are slated to be completed by mid-2024. The
pipeline of five Assemble Futures projects across Melbourne’s central suburbs will deliver
over 1500 homes via the build-to-rent-to-own model by 2027.