AustralianSuper launches €575m UK living platform

Australia's largest pension fund AustralianSuper has unveiled a new UK Living platform with an initial £500 mln (€575 mln) investment, aiming to become a top-five rental home operator in the UK within five years.

London

This platform will target the UK living sector, including student, co-living, and residential homes, focusing on high-demand urban centres and major universities. It aims to capitalize on AustralianSuper's extensive global real estate expertise, honed through major projects in Australia, the UK, and Europe.
The platform's first project is a student housing development in Bristol, expected to be completed in 2027. This initiative marks a significant step in AustralianSuper's commitment to the UK, aligning with its goal of growing its UK portfolio to £18 bn (€20.7 bn) by 2030.
To lead the new platform, AustralianSuper has appointed an experienced team, with Tim Butler, a veteran in rented living accommodation (previously with Student Roost and Unite Group), as CEO.
Damian Moloney, Deputy CIO 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 £8 bn (€9.2 bn) 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.”
Transaction lead, Vicky Stanley, senior investment director, Real Assets at AustralianSuper added: “We have launched our own UK living platform in order to deliver the highest standards for quality customer service, safety and sustainability. As a long-term investor, AustralianSuper believes there are attractive fundamentals underpinning the UK living market that position it well for continued expansion and investment. These include a persistent demand-supply imbalance, and the UK’s world-leading higher education sector, which the Fund expects to drive continued demand over the medium to long term.”