Building on the successful completion of their pilot project in Kensington in 2022,
we have commenced construction on 199 apartments at their second Assemble Futures build-to-rent-to-own project at 15 Thompson Street, Kensington with builder partner Hacer Group.
The project is the first in the Assemble Futures pipeline to receive equity investment from AustralianSuper, Australia’s largest superannuation fund. Assemble Futures is a pathway to home ownership for moderate income household buyers.
AustralianSuper has also committed to the third Assemble Futures project, with 171
apartments at 4 Ballarat Street, Brunswick.
In addition, AustralianSuper recently agreed to support the acquisition of three new
Assemble Future sites in Victoria, providing over 1000 additional Assemble Futures homes in central Melbourne, taking the total portfolio to 1500.
These new planned developments include:
- 370 Victoria Street Brunswick, site area 6,982 sqm
- 519-547 Sydney Road Coburg, site area 6,623 sqm
- 11-19 Whitehall Street Footscray, site area 13,815 sqm
“AustralianSuper has renewed their commitment to Assemble’s housing mandate with these three major acquisitions, an important step forward as we bring our mission – to tackle the ongoing affordable housing challenges and support more people into home ownership – to life,”
Kris Daff, Assemble’s Managing Director
“Breaking ground on Assemble Futures project at 15 Thompson Street means more people will have the option to live in and eventually own environmentally sustainable, high-quality homes in a well-connected suburb.
“Our residents will be able to save and budget for their first home with certainty, without the worry of volatile rental market fluctuations, or being priced out of the market.”
AustralianSuper Head of Property Bevan Towning said: “Through the unique Assemble Futures model AustralianSuper is helping to provide more Australians with an important pathway to home ownership while delivering on our purpose to help members to achieve their best financial position in retirement.
“The Assemble Futures model provides residents which much-needed certainty in terms of future purchase price, the security of a long-term rental agreement and flexibility to rent now and purchase later if they wish.
“Residents also receive the added benefit of financial coaching and education, which helps to prepare them for the step into future home ownership.
“We are delighted to have committed to a strong pipeline of future developments which will not only benefit residents but help us to deliver on our purpose for members,”
AustralianSuper Head of Property Bevan Towning.
15 Thompson Street, Kensington and 4 Ballarat Street, Brunswick are slated to be completed by mid-2024. The pipeline of five Assemble Futures projects across Melbourne’s central suburbs will deliver over 1500 homes via the build-to-rent-to-own model by 2027.