Pembroke are pleased to share that we have secured development approval for Young & Argyle, a 210-apartment build-to-rent development in Fitzroy, Melbourne,

This approval marks a significant milestone for Pembroke in growing our residential platform and first build-to-rent project in Australia. Located at 288 Young Street, Young & Argyle will deliver a mix of studio, one, two and three-bedroom homes designed to meet growing demand for high-quality rental living in Melbourne’s inner north. Designed by leading Australian architects FK, the development will also feature an enhanced resident amenity offering, including coworking spaces, lounges, private dining areas, hobby workshops, a gym and a café, alongside a street-level café that connects the development with the wider Fitzroy community.

Following approval, Young & Argyle was featured in leading property publication The Urban Developer, which highlighted Pembroke’s long-term approach to investment and the evolution of the project since its acquisition in 2025.

Speaking to The Urban Developer, Joe Fitzpatrick, Pembroke’s Regional Director for Australia, explained how the team approached the project with a focus on long-term value for residents, the community and the neighbourhood.

“We’re long-term ownership so we look at what it might look like in 15 to 20 years.”

Following the acquisition of the site, Pembroke undertook an extensive review of the approved scheme, engaging with the local community and reassessing the residential offering to better reflect the way people want to live in the future.

“At the conclusion of that review, we wanted to adjust the product mix, product type and also the design of the asset.”

The result was a comprehensive redesign focused on improving liveability, functionality and resident experience.

“The result is a more considered and liveable development,” Fitzpatrick said, with coworking spaces, lounges, private dining areas, hobby workshops, a gym and a café added to the plans.

Young & Argyle forms part of Pembroke’s broader diversification strategy, which includes residential investments and developments across London, Boston, Washington, D.C., Munich and Tokyo. As the company continues to expand its residential presence globally, Melbourne remains a key focus market for future growth.

“We’re actively looking for additional sites with a real focus on Melbourne. We think the fundamentals in Melbourne are some of the strongest in Australia from a livability standpoint,” Fitzpatrick said.

“There’s some really positive opportunities in Melbourne, not only from a land perspective, but also given the completion of a lot of Melbourne’s infrastructure projects over the past several years.”

With approval now secured and early works commencing on site, Young & Argyle represents an important step in Pembroke’s long-term commitment to Australia’s build-to-rent sector. As the project progresses toward construction in 2027, it will continue to bring Pembroke’s vision for thoughtfully designed, community-focused rental living to life in one of Melbourne’s most vibrant neighbourhoods.

Find out more Young & Argyle – https://www.pembroke.com/portfolio/asia-pacific/australia/melbourne/young-argyle/