Australian Single Family Office Launches $275M Real Estate Project

Australian Single Family Office Launches $275M Real Estate Project

An Australian single family office realizes a large built-to-rent property development in Melbourne. The family investment firm of Sam Suleman is working on a $275M project in Spotswood, Melbourne.

Mixed-Use Project in Melbourne

The project is located at McLister Street and will comprise 300 apartments as well as disabled-friendly housing. Building company ABD Group will take care of the construction contract, which is estimated to bring in more than $140M. Completion of the project of the Suleman family office is expected in mid-2020. The project is also a major factor for the local economy: during construction, it will create 550 jobs. On completion, it will create 471 jobs. Furthermore, the project comprises a neighborhood activity center, a Woolworths supermarket, as well as medical, health, and fitness tenancies. The Suleman single family office is led by Managing Director Sam Suleman.

Source: The Urban Developer, 03.10.2020
Picture Source: Denise Jans

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