26/06/2024

Social & Affordable Housing Delivered via ‘Build-to-Rent’ Model

Mynott Bowers were commissioned earlier this year to produce detailed bills of quantities for an inner city, 29-storey high-rise apartment complex. The project is located on the fringe of Perth’s CBD and has been designed and developed in direct response to the housing affordability crisis afflicting Australian cities.

Lot 52 Pier Street, Perth is an inner city apartment complex delivered via a Build-to-Rent (BTR) model. Incorporating a mix of social, affordable and market housing, Lot 52 will be owned and operated by a Community Housing Provider.

What is a ‘Build-to-Rent’ model in Australia?

Different to the traditional build-to-sell approach which dominates the Australian property landscape, build-to-rent – sometimes called “multi-family housing” – is touted as a way to provide steady income for investors and security of tenure and better conditions for renters in a growing, ever-tightening rental market.

The 29-storey building at 195 Pier Street will comprise 219 build-to-rent apartments, 30% of which will be social rental homes (66 apartments) and 20% affordable rental homes (44 apartments). The 3,099 square metre site is located close to public transport, shops and schools, and will have access to some of Perth’s best lifestyle attractions, including Yagan Square,  Northbridge  entertainment precinct, WA Museum Boola Bardip and RAC Arena.

The building will feature a landscaped podium on level seven, containing several communal offerings, such as a shared kitchen, workshop, laundry and outdoor area. An activated ground floor has also been proposed with a commercial tenancy, a cafe and a co-working space.

Above: The facade of the building has been designed to reflect the appearance of books or newspapers, and reference the precinct’s connection to print media as Pier Street was once the home of the Government Print Hall, and the nearby Stirling Street is where many esteemed newspapers such as The West Australian, The Sunday Times and The Australian, were printed.

Construction of the apartments is scheduled to commence mid-2024, following an anticipated development approval in late March.

For a global view comparing BTR in Australia, New Zealand, and the UK, click here: Dentons – A global view of Build to Rent (BtR) – comparing Australia, New Zealand and the UK

If you require Bills of Quantities for Construction or Civil Engineering projects, please contact Cassie Larham in the first instance at [email protected] or call +44 (0)7749 139688.

For further examples of the variety of Mynott Bowers commissions across all industry sectors, please visit our portfolio here: https://mynottbowers.com/portfolio/