Aware Real Estate, a subsidiary of Aware Super, is set to develop 135 apartments in Sydney inner suburb Zetland as the fund expands its built-to-rent portfolio.
With a construction value of around $80 million, the Bourke Street project will be completed by the end of 2025 and focus on market rental accommodation. It will include communal open space on the ground level, a gym, a resident lounge, music room and rooftop barbecue area.
The fund is working with investment manager Barings for the project. Aware Real Estate’s current residential portfolio has 10 sites across Sydney, Melbourne, Perth and Canberra, and is expected to grow to more than 1200 apartments in coming years.
Other projects are said to soon follow across a further five development sites in Sydney and Melbourne.
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