Australian developer opens UK office
Australian property developer, Third.i, has opened its first international office in London.
The company has actually been active in London for around five years, having built up a £185 million pipeline of new build homes in the city, with a further £130 million planned.
The developer acquired Westminster Tower in Lambeth which has been renamed ‘The Doulton’ and launches in September 2023.
Luke Berry, co-founder & director of Third.i, said: “We are very excited to be opening our first international office in London and expand the Third.i presence to the UK.
“This is the strategic next step following our growth in Australia. We want to let our buyers know that we are here to stay through not only investing in a full-time office but by relocating some of our Australian team too.
“There are significant opportunities to be had in the UK from student accommodation to retirement living, so London is an appealing base to operate from.
“Gareth went to school with Rob, one of our founders, and has followed us on our Third.i journey ever since. He saw an opportunity in London and asked if he could produce a fully secured deal to us, would we consider it? We agreed and that was our flagship project in Battersea.
“We have continued to grow the UK business ever since and it was important for us to therefore have an office in the area we are focusing on, which is close to both Graphite Square and another site we are about to complete on.”
The 156 sq m office at 22 Albert Embankment – which is located on the river between Lambeth Bridge and Vauxhall station – is situated to enable the firm to build its own UK based team which is being headed up by co-founder, Ron Dadd, who has transferred from Third.i’s base in Sydney.
Having delivered over AUD$4billion pipeline of commercial and residential properties in Australia, Third. acquired their flagship scheme, 58-70 York Road in Battersea, London, in 2018, followed by Graphite Square in 2020, where over 60% of homes have since sold off market prior to its official UK launch later this year.
The developer will be pursue land and development opportunities throughout Greater London, support new development launches as well as promote their London portfolio to prospective buyers and buy-to-let investors.
Third.i’s new office is also home to the marketing suite of another residential scheme, Graphite Square in Vauxhall, in preparation for its official UK launch later this summer. Graphite Square has almost reached practical completion and comprises of 160 new homes, 80,000 sq ft co-working office space and landscaped communal gardens.