Governments across Australia are pushing to accelerate housing supply and are fast‑tracking select projects to get them built sooner. Offshore institutional capital has already poured into build‑to‑rent developments and now large domestic funds are moving in.
In one of the sector’s biggest transactions to date, Aware Super and Barings have finalised the purchase of the Brunswick & Co complex in Brisbane for about $285m. The property was developed by Singapore‑based Frasers under a Queensland government pilot scheme, with CBRE appointed as the selling agent.
Brunswick & Co’s scale and backing make it a reference point for future build‑to‑rent deals in Australia, particularly for superannuation funds looking for long‑term rental income. The project’s support under a state pilot programme shows how targeted government schemes can help de‑risk early developments and draw in capital.
Market observers point to the combination of institutional‑grade management, stable occupancy and potential rent growth as key attractions for investors. These factors are turning build‑to‑rent from a niche product into a core allocation for both offshore and domestic capital.
The acquisition by Aware Super shows that major local super funds now treat build‑to‑rent as part of the response to Australia’s housing shortage, not just an alternative asset play. The deal validates the Queensland government’s early support for the model and may encourage similar pilot programmes in other states.
As more domestic capital follows Aware Super and Barings into the sector, competition for suitable sites and completed assets is likely to intensify. Policymakers now face pressure to scale this model quickly enough to make a meaningful dent in the housing crisis.
