Sama Investments’ Post

I'm currently gorging on dozens of BTR apartment projects in Copenhagen. Tried out a WFH space - Kiwis seem to be able to talk their way into anywhere around the world. Generally speaking, Copenhagen is taking a more pragmatic approach to providing BTR homes. Less by way of concierge, pools, gyms, mini theatres, pet salons, etc. Not even valet bike parking. Just great housing. Reflecting on the many London and Dublin examples that were experiencing higher running costs, higher churn and higher vacancy levels I did a back of the envelope financial comparison. The ~400 apartment properties with all the whistles and bells typically had 30-40 FTE staff - concierge, security, cleaning, maintenance, letting, management - in addition to the external contractors. The Copenhagen BTR examples providing just great housing had 4-6 FTE staff. To cover the difference in costs between these two models each apartment would need to charge ~$150pw (~$7,500pa) extra in rent to break even. It will be interesting to see where the NZ BTR sector lands on this over time. I'm thinking it's more like Copenhagen with a little bit of London, but all done in our own Kiwi way. More stable and closer-knit communities, more affordable long term housing solution and consistent returns for investors.

The largest build-to-rent project in NSW! The build-to-rent (BTR) market in Australia is poised for significant growth, but recent developments show that it’s facing challenges that need to be addressed urgently. According to The Australian Financial Review BTR starts in 2024 are projected to drop from 5,100 units to 4,300 units—a sign that high construction costs and tighter credit conditions are putting a strain on the market. So it’s great to see this get a go. However, the potential for growth remains strong. BTR could expand to 150,000 units by 2030, according to industry forecasts, providing a long-term solution for the housing affordability crisis. Major investors like the Choice Property Group are pouring $1 billion into BTR developments, signaling confidence in the model’s future. The societal impact of a successful BTR market is immense. Long-term, stable rental housing will provide Australians with security and flexibility, especially in a time of rising interest rates and homeownership challenges. By creating vibrant, inclusive communities, BTR can help reduce housing inequality, encourage urban regeneration, and offer renters the stability they need to build their lives. It does look cool!😎 #BuildToRent #AffordableHousing #UrbanDevelopment #Leadership #SustainableLiving #RealEstate #SocialImpact

The Gladstone, one of Australia’s LARGEST build-to-rent projects opens in Melbourne. 👏 Greystar has celebrated the opening of its 1st build-to-rent development in Australia. The $500m, 700 unit development is set across 3 towers, with a 600m² podium with retail space and 4,600m² of communal amenities. Located in South Melbourne on the doorstep of the scenic Kirrip Park, with views of the CBD, Southbank and Port Phillip Bay The Gladstone provides renters with accommodation from 1 to 3 year leases and is set to bring the South Melbourne community high quality rental housing that attracts a broader, more diverse range of people from abroad, inter-state and Greater Melbourne.

🚧 GRESHAM MOVING FORWARD 🚧 Plans for a major regeneration project that will transform an abandoned area of central Middlesbrough have reached a key milestone with the selection of a leading national firm as construction contractor 🏗 Family-owned contractor Wates Group has been appointed to lead the construction of the Middlesbrough Gresham Redevelopment – with a firm commitment to share contracts with the local supply chain 👷♀️ Middlesbrough Development Corporation – led by Tees Valley Mayor Ben Houchen - has joined forces with experienced property developers iMpeC and Buccleuch Property on the “transformational project” to deliver high-quality accommodation targeting students and professionals. It follows the recent announcement that international hotel brand Fairfield by Marriott is in discussions to open a 200-bedroom hotel as part of the wide-scale regeneration project 🏨

Willmott Dixon has finalised a £36m deal to restore the historic 1930s Grade II listed Seymour Centre in Marylebone, central London. Under the deal with Westminster City Council, Willmott Dixon will carry out a full restoration of the three-storey centre. This will include delivering a refurbished swimming pool, new sports hall and open plan gym, and permanent home for the Marylebone Library over two floors. Willmott Dixon has teamed up with MAKE Architects and Hadron Consulting as project manager to undertake the modernisation. Exterior of Seymour Centre building in Marylebone It is the latest in a run of projects Willmott Dixon has delivered for the council over the past decade. Cllr David Boothroyd, Cabinet Member for Finance and Council Reform at Westminster City Council, said: “Our Seymour Centre refurbishment is an incredibly exciting project that will create not just a leisure centre; but a new library and community space in Marylebone for all our residents to enjoy.” The pool will become more accessible with the installation of a pool pod Stewart Brundell, managing director for Willmott Dixon in North London and Eastern Homes Counties, said: “We’ll be deploying our specific heritage property restoration skills to rejuvenate the centre as a place serving the community for many generations to come, as well as helping to meet the council’s commitment to reach net zero emissions by 2030 with improvements to heating, temperature and ventilation in the refurbished centre that will reduce carbon emissions.” The overhaul is scheduled to be completed in 2026

More excellent plans for the Trafford Wharf Development 🏢 Cole Waterhouse’s plans for the Trafford Wharf development will transform a current brownfield site and provide essential rental housing to the Manchester market. Situated at the former Hilti HQ site off Trafford Wharf Road in Stretford, the plans for the brownfield site will incorporate: 438 Build to Rent apartments 20% affordable homes for Trafford residents Purpose-built student accommodation (PBSA) beds. The 2.2-acre plot is located within Trafford Council’s Wharfside regeneration zone which aims to transform the area, delivering up to 5,000 new homes and a new stadium for Manchester United. It's a really exciting time for the area. I know a lot of people in our industry are looking on right now to see whether we are about to see a similar transformation to the one we saw to the surrounding areas of the Etihad Stadium. I know it will be a hugely welcomed regeneration for United fans (hopefully on the pitch too), and local residents are also likely to see the benefits too, with improved infrastructure, schools, services and an increase in house prices.

Construction News: Plans have been made to convert a failing shopping centre in Scotland into student accommodation. http://dlvr.it/TGm0sq #Dundee #purposebuiltstudentaccommodation #Scotland

Australian property developer Aqualand has taken a significant step towards transforming North Sydney’s skyline with its latest proposal. The company has lodged a State Significant Development Application (SSDA) with the New South Wales government for the area’s first build-to-rent (BTR) project, set to be constructed at 146 Arthur Street. Read the full story here: https://lnkd.in/g_nVMGuF

The first BTO projects in the two housing areas will be launched in 2025.

Will this Melbourne Strata Building return to Serviced Apartments ? There’s a lot of serviced apartment #stratatitle buildings where an accommodation operator runs an accommodation business using privately owned investment apartments. It’s the backbone of southeast Queensland holiday apartments and many well known brands like Accor, Quest and Crown operate that way. But this 144 lot #strata building in Melbourne’s CBD has an unusual history since. - it was originally built and developed as a serviced apartment complex, - Quest operated serviced apartments for many years, - Quest stopped business there during COVID-19, - some of the serviced apartments were then bought by owner occupiers, and - some of the serviced apartments were bought by residential investors. Now there’s a push by the investor owners to start operating a serviced apartment business in the building again with the Panache Hotel Group. https://lnkd.in/guGdJget