Government Calls for Build-to-Rent EOIs
The Queensland Government has called for Expressions of Interest (EOI) for its Build-to-Rent Pilot Project, announced in December 2018. The call for EOIs follows the Registration of Interest process undertaken in early 2019.
The Property Council has previously welcomed the State’s $70 million commitment to the pilot project as a welcome step towards ensuring Build-to-Rent gets a foothold in the Queensland market.
This targeted subsidy will enable the successful proponent to deliver affordable housing through a Build-to-Rent development within 10km of the Brisbane CBD.
Build-to-Rent buildings are built specifically for long-term rental, often by big institutional investors who have a strong interest in delivering high quality, well managed and attractive developments.
Tenants in Build-to-Rent developments are typically able to enjoy longer contracts and greater amenity than what is available in the current private rental market.
While common in the UK and the US, Build-to-Rent residential development is not well known in Australia.
Queensland Treasury is asking interested parties to register their interest for an industry briefing via BTR@treasury.qld.gov.au
by 8 May.
For more information on the Build-to-Rent pilot project, or to register an EOI, visit the government’s website.
EOI Stage 1 closes on 24 May 2019.