MinterEllison is delighted to have supported Frasers Property Australia in the first state-sponsored build-to-rent scheme in Queensland.

Frasers Property is set to build 354 apartments, with the government subsidising the rent of 144 of them. The rest will be rented at market rates. The project is due to be completed in 2023.

The project will be developed at 210 Brunswick St, Fortitude Valley.

When announcing the project, Queensland Treasurer and Minister for Infrastructure and Planning Cameron Dick said “This will provide greater opportunities and improve the quality of life for Brisbane city workers and their families, who would otherwise be unable to afford to live close to their jobs.”

Frasers Property Australia’s Chief Executive Officer Anthony Boyd said “The outcome will be a greater diversity and supply of affordable rental housing and that’s a positive thing for the community and the economy.”

"This BTR project will set a benchmark in quality and a model which will encourage further partnerships between government and the private sector and stimulate institutional investment in this new asset class,” he added.

A MinterEllison team led by Cameron Charlton acted for Frasers Property Australia in the transaction.

"This transaction required unique solutions to commercial and legal issues that were being addressed for the first time in Queensland. We were proud to support Frasers Property in this worthy initiative, and their first build-to-rent property development," Mr Charlton said.

"We're pleased to play a part in an initiative that brings the public and private sector together to help address the important issue of affordable housing," he added.