Suleman Group launches Build to Rent based village at Spotswood
The Suleman family’s development arm has appointed ABD Group to construct a major Build to Rent based village in Melbourne’s inner west Spotswood.
Union Quarter at 31-69 McLister Street, on the south east corner of Melbourne Road, will contain 334 apartments – 34 which will be for National Disability Insurance Scheme accommodation – within a six and nine storey structure.
It is also penned with a retail complex anchored by a 4200 square metre Woolworths and 1400 sqm Dan Murphy’s – as well as 20 specialty stores, and a medical centre (both these components are for lease via Fitzroys’ James Lockwood, Bianca Pannunzio and Rick Berry).
Garden zones – including one atop of the shopping centre which will capture city skyline views over the nearby Yarra River – form the design, too.
Suleman Group expects building to be complete by March, 2022.
The end value of the product is estimated to be $275 million.
The diversified family business has held the former Spotswood industrial property for two decades, but began to push through its redevelopment proposal in 2015 (story continues below).
Its plan was rejected by council in May, 2017 – a decision overturned by the Victorian Civil and Administrative Tribunal four months later.
Spotswood is about six kilometres from the CBD.
Elsewhere in Melbourne, Mirvac is proposing three BTR towers: in Brunswick and two in the city.
GIC and Grocon are also intending to create this product – a new, fast-growing concept for Australia – at North Melbourne, Richmond and Southbank.
Make Ventures is also marketing one, in Kensington – three suburbs north of Spotswood.
