Media Release | 16 September 2021
Hall & Wilcox has advised Greystar Real Estate Partners on Australia’s largest build-to-rent project, a $500 million project in South Yarra in Melbourne’s inner east.
Hall & Wilcox advised Greystar on the planning permit application process, including successful settlement with Council and a neighbouring objector of an appeal to the Tribunal.
Greystar is a global company that invests, develops and manages high-quality rental housing properties. The South Yarra project, designed by architects Fender Katsalidis, will have 625 apartments and 3,500 square metres of communal amenities, spread over two towers. It is the largest build-to-rent development ever to receive a permit in Australia.
Meg Lee said, ‘The project is an exciting contribution to the affordability matrix in Melbourne, offering a unique and flexible housing product with excellent communal amenities of approximately 5.6sqm per apartment compared to an average of only 3.0sqm in other luxury apartment towers.’
Managing Director for Greystar in Australia Chris Key said the project would introduce a new flexible living offering to Australian renters.
‘This project is not just the largest development of its kind, but it is an important step in increasing the diversity of housing choice in Australia. Many thanks to Hall & Wilcox for helping us achieve this exciting milestone,’ he said.
Hall & Wilcox is a leading independent law firm of more than 800 people, including over 100 partners, delivering legal services to corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia. The Hall & Wilcox Social & Affordable Housing team has acted for state and local governments, public and private companies and not-for-profit organisations nationally. Our experience includes advising on planning, procurement and development, due diligence, property transactions, construction, fund establishment and management, tax requirements and transaction finance.
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