Australian Financial Review
02 March 2023
Nick Lenaghan, Property editor
Private developer Pellicano is rapidly accelerating its pipeline of build-to-rent projects, with plans for a $225 million project at Robina on the Gold Coast as the emerging sector gains traction more broadly in the market.
Family-owned Pellicano is diversified across commercial, industrial, retail, hospitality and residential and has been stepping up its exposure to rental housing over the past three years. [https://www.afr.com/property/residential/developer-pellicano-returns-to-build-to-rent-20201007-p562nx]
Its BTR pipeline in Queensland and Victoria has expanded to about 2000 apartments. For Pellicano, though, it is already well-known asset class, after its family founders [https://www.afr.com/property/commercial/fifty-and-flying-pellicano-diversifies-pipeline-20171024-gz6tmt] developed a block of rental town homes to retain in Melbourne in the 1970s.
Amenities at the Pellicano build-to-rent project at Robina will include a wellness centre, gym, steam room, sauna, cinema, residents’ lounge and work-from-home space.
“Build-to-rent will continue to be a key area of focus for Pellicano moving forward,” managing director Nando Pellicano said. “We will continue to seek out well-located sites across both Victoria and Queensland, where we can deliver high-quality residences to growing populations.”