US firm Sentinel Real Estate has acquired a 1.4-hectare site in Robina on the Gold Coast to develop into a 300-unit Build-to-Rent development.
The 5-8 Stadium Drive development will target carbon neutral certification and a 5-Star Green Star rating from the Green Building Council of Australia.
It is Sentinel’s first development site purchased in Queensland, following the completion of its first Australian BTR apartment communities in Perth.
Sentinel also has a 172-apartment BTR community in West Melbourne under construction, which is due to reach practical completion in 2023.
“After bringing our premium and sustainable Build to Rent communities to Western Australia and Victoria, we’re excited to expand our footprint to the Sunshine State,” said Keith Lucas, Managing Director of Sentinel in Australia.
“We’re committed to delivering sustainable and high-quality living environments that provide renters with a refined rental experience and offer Queenslanders greater housing choices.
“This is especially important as rental vacancy rates in Queensland continue to tighten and areas like Robina expect to see a significant boom in population and jobs growth over the next decade.”
The site was situated in Robina’s Stadium Village Precinct near key amenities and infrastructure including Robina Town Centre, Robina Train Station, Cbus Super Stadium and Robina Hospital.
Robina is just a 20-minute drive from some of the Gold Coast’s most iconic beaches and a 15-minute drive from the Gold Coast International Airport.
It has also been confirmed as the location for the Gold Coast Olympic and Paralympic Village for the 2032 Brisbane Olympic Games and has been ranked among the Gold Coast’s fastest-growing suburbs, with its population and workforce expected to more than double by 2050.
According to the Australian Bureau of Statistics (ABS), Southeast Queensland is the third largest urban region in Australia and accounted for almost 90% of Queensland’s total population growth.
The site was acquired by Sentinel Fund Manager Australia, the Australian arm of New York-headquartered development and real estate investment firm Sentinel Real Estate Corporation.
CBRE Gold Coast and Colliers brokered the deal.