Australian build-to-rent (BTR) platform Novus, in partnership with a Korean investment consortium, has announced a new venture to deliver Novus on Victoria, a purpose-built BTR apartment development at 410–416 Victoria Avenue in Sydney’s Chatswood.
The consortium comprises Korea Investment & Securities Co. Real Asset (KIRA), Hyundai E&C and Korea Overseas Infrastructure & Urban Development Corp. (KIND). The venture, known as The Victoria Delivery Joint Venture, marks the consortium’s first investment in both Australia and the Australian BTR sector.
Novus CEO Adam Hirst said the planned delivery of Novus on Victoria was in direct response to surging demand for quality BTR living in New South Wales.
“Novus on Victoria marks another significant step in our mission to build homes for 10,000 Australians,” said Hirst. “Chatswood is thriving as one of Sydney’s most well-connected neighborhoods; however, with a vacancy rate of just 0.9 percent,
