Australian Developer Expands into London Market With New Head Office

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• Australian Developer Expands into London Market With New Head Office

10 August 2023

Australian property developer Third.i has opened its first international head office in London, at 22 Albert Embankment between Lambeth Bridge and Vauxhall Station.

Third.i said it has been active in the London market for almost five years, building up a £185 million pipeline of new-build homes in the city, alongside an additional £130 million planned following the acquisition of iconic London landmark The Doulton on the River Thames.

In Australia the company has delivered more than $4 billion (£2 billion) of commercial and residential properties.

The company is set to build a billion-pound pipeline over the next five years, including the acquisition of three additional sites in the UK by the end of 2024, adding more than £500 million in gross development value. Two prime sites, Graphite Square in Vauxhall and The Doulton in Lambeth, will launch in September.

Graphite Square comprises 160 homes, 80,000 sq ft of co-working office space and communal gardens. A third of the flats were sold in less than three months during the initial marketing campaign, which made it the fastest-selling scheme in Zone 1.

The Doulton is a 47,000 sq ft 14-storey office block, which will be transformed into private residential units with planning permission approved by Lambeth council for 28 apartments.

The development will be made up of three lateral whole-floor penthouses with 360-degree views, 25 two- and three-bedroom apartments, all with direct views across the Thames via floor-to-ceiling double-height glass windows, 18 parking spaces and just over 3,000 sq ft of commercial space.

Third.i UK Based Team

Third.i is looking to build a UK-based team, led by co-founder Ron Dadd and other members who have transferred from the Sydney team. He said: “I am very excited to be given the opportunity to head up Third.i’s UK team. Working with the head of our UK business, Gareth Hardy, we identified the opportunity to replicate what we were doing in Australia in London, and the strength of our results to date demonstrate the demand in London for residences in desirable locations that have a focus on design and architecture.”

“We are very excited to be opening our first international office in London and to expand the Third.i presence to the UK,” added Luke Berry, Co-Founder and Director of Third.i.

“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.”

Picture: a photograph of the interior of Third.i's new office. Image Credit: Third.i

Article written by Ella Tansley | Published 10 August 2023

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