Build‑to‑Rent Kickstarted with nearly 100 new Mandurah rentals

As if an immediate response on the housing supply front to the Cook Labor Government’s loss of the seat of Secret Harbour to One Nation at the weekend’s momentous by-election, today the Government announced Mandurah will soon see a significant lift in rental supply, with almost 100 new apartments to be delivered under the Government’s Build to Rent Kickstart Fund — the first project to reach approval since the scheme launched.

Spotted Gum Property’s Sutton Apartments development will deliver 98 build‑to‑rent homes in central Mandurah, supported by a $9 million concessional loan through Keystart. Construction is expected to begin within months. The project includes a mix of one‑ and two‑bedroom apartments, with 31 units reserved as affordable rentals, capped at 25 per cent of tenant income.

Artist’s impression. Source Kickstart.com.au

Build‑to‑rent developments are apartment buildings held in single ownership and operated specifically as long‑term rental communities, rather than being sold off individually. For tenants, the model typically means greater security of tenure, professionally managed buildings, and more stable rents over time. For governments, it’s a way to bring new rental supply to market quickly, with a guaranteed portion set aside as affordable housing. The Kickstart Fund is designed to reduce financing barriers and encourage more of these projects into construction.

Treasurer Rita Saffioti said the Mandurah project “will pave the way for many more build‑to‑rent developments across our State,” noting that Keystart has moved into credit negotiations with seven proponents, representing up to 850 additional homes. She also highlighted WA’s new 75 per cent land tax exemption for build‑to‑rent projects — now the most generous in the country — aimed at accelerating long‑term rental supply.

Housing Minister John Carey said the development reflects the Government’s push to deliver more homes in established suburbs close to jobs, services and transport. He emphasised the importance of the 31 affordable rentals, describing them as essential for “low‑income and key workers” who need secure housing.

The Build to Rent Kickstart Fund requires participating developers to deliver at least 40 rental dwellings, held for a minimum of 10 years, with 30 per cent reserved as affordable rentals.

Further projects are expected to be announced as negotiations progress.

Look here for more information on Kickstart.

*By Michael Barker, Editor, Fremantle Shipping News

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