Maddocks has advised Novus, in partnership with a Japanese Consortium, on the acquisition of the site for Novus on Forest – a 310-apartment development in Sydney's Northwest. 

Maddocks assisted Novus to acquire the site off-market from vendor Austino with an existing Build to Sell development approval in place. The scheme was then substantially redesigned for Build to Rent. Early works are underway, and construction formally began in September 2026.

Novus is delivering the project alongside a Japanese Investment Consortium comprising Kanden Realty & Development, Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and Cosmos Initia.

Novus on Forest is located at 2-16 Epping Road and 2-4 Forest Grove, next to Epping Metro station. The site covers 11,450 sqm and includes more than 3,750 sqm of communal open and green space. The project also targets an average 7-star NatHERS rating, a certified 5 Star Green Star rating and net zero emissions during operations.

The Maddocks team, which assisted Novus on all legal aspects of the acquisition, was led by Real Estate Partners James Beauchamp and Cameron Thomson with support from Senior Associate, Hannah Opperman, and Conveyancing Manager, Amy Saad. 

James said:

“We are delighted to have supported Novus on Novus on Forest, its first campus-style Build to Rent project and its fourth in Sydney. Bringing together a three-member Japanese investment consortium shows the growing appeal of Australian Build to Rent to offshore institutional capital, and we are proud to have helped Novus with the project.”

The project signals further growth for the Build to Rent sector in Australia, paired with increased interest from Japanese investors.