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11 December, 2024 / Category: Blog
One of Melbourne’s first completed build-to-rent projects Union Quarter has smashed leasing predictions, demonstrating how the segment can fulfill surging demand for one-bedroom apartments.
Located in Spotswood, Union Quarter by developer Suleman Group features 332 apartments across two buildings and commenced leasing in late 2023. It is now over 80 per cent leased, with all of the building’s 34 one-bedroom apartments leased in under three months and three-bedrooms moving almost as quickly.
BTR Specialist Nicole Hiddlestone, of Union Quarter’s leasing team Infolio Property Advisors, said BTR had an opportunity to fulfil demand for one-bedroom apartments that isn’t being met in the private leasing market.
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