Australia’s newest and most ambitious build-to-rent developer – MODEL – has snapped up Ashley Reed, the former CFO of CBus Property and CEO of the Spotlight Property Group, in a shake-up that will also see Jennifer Horrigan, chair of Dexus Asset Management and Yarra Capital Management, Phil Andrew – director of Generate Property Group and Sangeeta Venjatesan – chair of Airwallex Australia and RSL Lifecare join an advisory committee set up to oversee the new projects.
Wood Central understands that three members of the advisory committee made a financial investment in the company, with Rory Hunter, founder and CEO of MODEL, looking to deliver up to 5,000 new build-to-rent units, predominantly in Melbourne’s inner city, over the coming years. Hunter – who will headline Timber Construct later this year – is looking to use mass timber to “flip the script on old ways of living and being” and, in 2023, developed the White Paper, “Tomorrow’s Too Late, the case for regenerative decarbonisation in the Australian built-to-rent industry.”
“We bring a bold voice to rental housing by playing in a largely unexplored space: the intersection of socially and environmentally responsible housing,” according to Hunter. “Our projects – designed for Passive House certification, with mass timber construction, and a 6 Green Star rating – are poised to set a global benchmark in reducing emissions.”
“By integrating our three core pillars—Passive House Certification, Mass Timber Construction, and a 6 Star Green Star Rating—we are actively contributing to a future where buildings reduce emissions and enhance the well-being of both people and the planet.”
Last year, Wood Central revealed that MODEL, which announced plans to build two build-to-rent towers in Melbourne’s inner north, the first, a 17-storey 200-apartment tower in Abbotsford, and a second, a nine-storey, 180-apartment scheme over the 1880s Schweppes Cordial factory, is backed by a $250 million investment fund – the Regenerative Decarbonisation Fund (RDF) which will help drive the development of new projects.
“The RDF offers a pathway to align investment portfolios with broader climate goals and the country’s regulatory environment,” Hunter said. “Our projects will provide transparency in metrics, appealing to investors seeking higher returns alongside higher impact,” he said, adding that “they offer a competitive edge by aligning with consumer expectations around sustainable housing.”
- Please note: Wood Central will have an exclusive interview with Rory Hunter in the coming weeks. To learn more about Timber Construct, click here for more information.
