#Australia #Melbourne #Tokyo Tatemono #Lendlease

Tokyo Tatemono's Entry into Australian Real Estate Market

Tokyo Tatemono Co., Ltd. has officially entered the Australian real estate market with its participation in the rental housing development project named "899 Collins Street" in Melbourne. This marks the company's first involvement in such a project within Australia and is a collaboration with Lendlease Corporation Limited—an established Australian property firm—and Nippon Steel Kowa Real Estate Co., Ltd. The project is set to commence in October 2024, with completion expected by January 2027.

Located in the emerging Docklands area roughly one kilometer west of Melbourne’s Central Business District (CBD), the 899 Collins Street project will feature a total of 499 rental units across 24 floors, enhancing the residential options in a rapidly developing district that already boasts a mix of commercial and residential spaces. The area is anticipated to gain further convenience through additional upcoming developments.

Australia is currently grappling with a severe housing shortage, exacerbated by rising construction costs and high population growth rates that are outpacing those in the United States and India. Particularly in Melbourne, the influx of overseas immigrants has led to increased demand for affordable rental housing compared to owner-occupied units. By supplying high-quality and comfortable rental accommodations, the 899 Collins Street project aims to contribute to addressing these societal issues.

Tokyo Tatemono has identified the expansion of overseas operations as a critical strategy in its long-term vision of evolving into a next-generation developer. The current mid-term management plan for fiscal years 2025 to 2027 includes a targeted investment of 110 billion yen towards its international projects. This initiative builds on previous developments in Australia involving both downsizer-targeted residential projects and segmented warehousing projects which cater to the expanding e-commerce market.

Project Details

• - Project Name: 899 Collins Street
• - Location: Docklands, Melbourne, Victoria, Australia
• - Site Area: Approximately 3,394 square meters
• - Total Floor Area: About 57,800 square meters
• - Structure: Reinforced Concrete, 24 stories
• - Total Units: 499
• - Unit Sizes: Ranging from approximately 35 square meters to 120 square meters
• - Construction Start: October 2024
• - Completion Date: January 2027

Featured Amenities

The project is also set to include amenities such as a gym and a pool for residents, enhancing the living experience within this modern development.

About Lendlease Corporation Limited

Lendlease Corporation, established in 1958 and headquartered in Sydney, Australia, is a leading real estate company listed on the Australian Securities Exchange (ASX). They are known for their extensive urban development projects not only within Australia but also across various cities in Europe, America, and Asia. The company specializes in property development, construction, and investment management, offering a fully integrated service in urban development.

Conclusion

With the 899 Collins Street project, Tokyo Tatemono is positioned to play a vital role in addressing the pressing housing issues faced by Melbourne. The company's strategic focus on international expansion reflects its commitment to creating high-quality residential solutions that meet market demands while simultaneously contributing to the overall betterment of communities.

For more information, please refer to the official announcements by Tokyo Tatemono regarding this and other projects.