AustralianSuper has launched a new UK living platform with an initial £500m investment.
The platform has a “strong pipeline” of opportunities and intends to deploy funds at scale over the next 12 months and become one of the top five operators of rental homes in the UK within five years.
AustralianSuper has appointed Student Roost founder Tim Butler to lead the new business, which seeks to create institutional-grade living accommodation encompassing student, co-living and residential homes.
The platform’s first investment is a student housing development in Bristol. Contractors are on site and AustralianSuper is targeting completion of the scheme in 2027.
Damian Moloney, deputy chief investment officer at AustralianSuper, said: “Today’s announcement demonstrates the continued attractiveness of the UK as a global investment destination, with AustralianSuper on track to deploy more than £8bn of new capital into the country by 2030. With ambitious plans to scale, our new living sector platform is a clear demonstration of the fund’s mature, international investment capabilities and complements our existing sectoral exposure across AustralianSuper’s global real assets portfolio. Establishing this platform is a significant milestone for AustralianSuper. It’s a great example of the ways the fund can contribute to economic growth in the UK, while generating returns for our 3.5 million members.”
Chancellor Rachel Reeves added: “This is about getting Britain building again – bringing our savings, our investors and our regions together to deliver the homes, infrastructure and industries that will drive growth and create good jobs in every corner of the country – building a stronger economy that works for, and rewards, working people.”
