Cosmos Initia Joins Its First Build-to-Rent Development Near Sydney
Cosmos Initia announced on September 24, 2026, that it will participate in the Epping Project, a rental housing development in Epping near Sydney, Australia, through its subsidiary Cosmos Australia Holdings. The project is a joint undertaking with Novus Holdings, which develops build-to-rent (BTR) housing—residential developments intended for rental operation—in Australia, as well as Kanden Realty & Development and the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN). It will be the Cosmos Initia group's first BTR project in Australia.
The site is in a residential area approximately 15 km northwest of Sydney's central business district (CBD), approximately two minutes on foot from Epping Station, from which the CBD is about 25 minutes away by metro. According to the company, the population around Epping has grown at an annual rate of about 2.5% over the past 10 years, outpacing the New South Wales average of 1.4%.
The development will consist of five buildings of six to nine stories, with 310 units in total. Construction began in September 2026, with completion scheduled for around the end of 2028. Novus Holdings will contribute its expertise in BTR development and operation, Kanden Realty & Development its expertise in residential development and operation and in the use of renewable energy, and JOIN its know-how in overseas real estate development and construction.
Cosmos Initia established a local subsidiary in Australia in 1990 and has developed for-sale condominiums and townhouses near Sydney since 2014. It has worked on five residential developments there, including Flour Mill, Summer Hill (360 units, completed in 2019), a for-sale residential project co-developed with Daiwa House Industry, Sumitomo Forestry and others. With this BTR project, the company will expand beyond for-sale housing into rental housing.
Key Facts
- Project Name: Epping Project
- Developer: Cosmos Initia Co., Ltd. (participating through its subsidiary Cosmos Australia Holdings Pty Ltd)
- Joint Venture Partners: Novus Holdings / Kanden Realty & Development Co., Ltd. / Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development
- Location: 2-16 Epping Road and 2-4 Forest Grove, Epping, NSW, Australia
- Nearest Station(s): Approximately two-minute walk from Epping Station
- Construction Start: September 2026 (scheduled)
- Completion: Around the end of 2028 (scheduled)
- Number of Floors: 6F to 9F, five buildings (reinforced concrete construction)
- Use: Rental housing (BTR)
- Total Units: 310 (72 studios, including furnished units; 77 one-bedroom; 124 two-bedroom; 37 three-bedroom)
- Area: Site area of approximately 3,464 tsubo (approx. 123,300 sq. ft.) / Gross Floor Area of approximately 7,705 tsubo (approx. 274,200 sq. ft.)
- Common Facilities: Communal open space and green areas of approximately 3,750 sq. m (approx. 40,400 sq. ft.) / Indoor common facilities of approximately 1,300 sq. m (approx. 14,000 sq. ft.)
