Major Australian property developer Mirvac is setting new standards for sustainable rental housing in our major cities through its $1.8 billion Build to Rent Venture.
$75m
CEFC investment
Build-to-rent
apartments
7.5 stars
NatHERS
The LIV portfolio highlights what can be delivered through a focus on sustainability, quality and amenity, with customers at the front of mind. Residents across the LIV properties will reap the benefits of having sustainability treated as an investment rather than a cost at these landmark developments.Michael Di RussoHead of Property, CEFC
Our investment
The CEFC has invested $75 million in equity as a cornerstone investor in the Mirvac Build to Rent Venture (Venture), which is developing rental properties that offer sustainable, energy efficient homes for tenants.
Mirvac’s unlisted Venture property trust includes more than 2,200 apartments across five landmark LIV developments – in Sydney, Melbourne and Brisbane. The developments, which feature a range of measures to lower the carbon footprint of tenants, include affordable homes for essential workers and people on lower incomes.
The CEFC commitment includes a reinvestment of its previous investment in the Mirvac Australian Build-to-Rent Club (ABTRC). Assets and pipeline assets from the ABTRC have been transferred to Venture.
More Australians are renting, whether by choice or by necessity. LIV Mirvac provides a genuine and new housing choice for renters, whether this be security of tenure while on the path to home ownership or flexibility for when life changes happen, we meet the needs for our residents at key life stages.Campbell HananCEO and Managing Director, Mirvac Group
our impact
Delivering sustainable apartment living for tenants
Mirvac LIV build to rent properties feature sustainable city apartments that aim to reduce resource consumption, lower carbon emissions and provide a healthier living environment for residents. The apartments are built to minimise their carbon footprint through incorporating energy efficient features, using renewable energy sources, promoting eco-friendly materials and using sustainable waste management practices. The properties have a targeted average Nationwide House Energy Ratings Scheme (NatHERS) of 7.5 stars. Some have achieved 9 stars.
The portfolio includes:
- LIV Albert in Brunswick, Melbourne – 498 apartments
- LIV Anura in Newstead, Brisbane – 396 apartments
- LIV Aston in Docklands, Melbourne – 474 apartments
- LIV Munro, Queen Victoria Market, Melbourne – 490 apartments
- LIV Indigo, Olympic Park, Sydney – 316 apartments.
Why sustainable housing matters
CEFC investments across the housing sector, including new and existing homes, are helping more Australians reduce their carbon footprint and benefit from the transition to net zero emissions.
Australia’s 11 million homes produce more than 10 per cent of total emissions and use more than 25 per cent of our electricity, according to the Renovation Pathways analysis from the Climateworks Centre.
It is particularly exciting to be working with Mirvac on this ambitious build to rent strategy, which continues to drive enhanced sustainability outcomes for owners and tenants over the life of the asset.Michael Di RussoHead of Property, CEFC
