Pembroke has announced the acquisition of a 2,600 square-meter (27,986-square-foot) build-to-rent (BTR) development site at 155 Johnston St. in Melbourne’s trending suburb of Fitzroy. Located less than two kilometers (1.2 miles) from Pembroke’s iconic property, the T&G Building, this latest acquisition delivers on Pembroke’s diversification strategy to build a portfolio of residential, mixed-use and office properties in the world’s leading cities.
Pembroke will develop a contemporary BTR master-planned community at the 155 Johnston St. site. Known for its vibrant history and trending street culture, Fitzroy is an eclectic suburb appealing to a mix of professionals and weekenders due to its arts scene, abundance of bars and restaurants, organic bakeries, and designer boutiques.
“Addressing a chronic shortage of housing is high on the Australian Government’s agenda, and the BTR market in particular offers huge opportunity for us at Pembroke as we double d
