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Tokyo Tatemono Joins Large-Scale BTR Development in Melbourne’s Docklands District

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Tokyo Tatemono Joins Large-Scale BTR Development in Melbourne’s Docklands District

Tokyo Tatemono Joins Large-Scale BTR Development in Melbourne’s Docklands District

Tokyo Tatemono has joined the rental housing development project “899 Collins Street,” underway in the Docklands district of Melbourne, Australia. The 499-unit Build-to-Rent (BTR) property marks the company’s first rental housing development in Australia. Tokyo Tatemono is joining an existing joint venture originally formed by Lendlease and NIPPON STEEL KOWA REAL ESTATE.

The project site is located in the Docklands district, approximately 1 kilometer west of Melbourne’s CBD. The building will be a 24-story reinforced concrete structure with 499 units ranging from approximately 35–120㎡ (approx. 377–1,292 sq. ft.). Construction began in October 2024, with completion scheduled for January 2027.

Under its Medium-Term Management Plan (FY2025–2027), Tokyo Tatemono has allocated JPY 110 billion for overseas investment, designating North America, Asia, and Australia as priority regions. The company has developed for-sale and rental housing in the U.S., executed multiple condominium projects in central Bangkok, and participated in both residential and strata warehouse developments in Australia. This project marks its third development in Australia and its first rental housing project in the country, representing an expansion of asset types and deeper collaboration with local developers.

Australia continues to face a structural housing shortage, with rental vacancy rates at low levels across major cities. In Melbourne, rental demand is rising due to increases in overseas migration and international students, while the state government is promoting BTR supply. The development is positioned to capture this strong rental demand.

Key Facts

  • Property Name: 899 Collins Street

  • Developers: Tokyo Tatemono Co., Ltd. / Lendlease Corporation Limited / NIPPON STEEL KOWA REAL ESTATE CO., LTD.

  • Location: Docklands, Melbourne, Victoria, Australia

  • Construction Start: October 2024

  • Completion: January 2027

  • Number of Floors: 24F

  • Gross Floor Area: approx. 57,800㎡ (approx. 622,708 sq. ft.)

  • Total Units: 499 units

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