Japanese real estate heavyweight Mitsubishi Estate Asia has taken a stake in McNab Group’s luxury project The Tannery in Brisbane’s West End.
The stake is part of its strategic funding partnership with the Queensland-based developer and builder, and Sydney-based real estate specialist private capital manager Ray White Capital.
It marks their second collaboration, following the success of their joint investment last year in the landmark $175m Elements Budds Beach residential development on the Gold Coast.
Both projects are cornerstone investments for the RWC McNab Residential Living Development Fund Series, which was established in 2025.
Total equity invested in the fund to date stands at $39.3m with The Tannery carrying a target Gross Realisable Value of $193.5m on completion.
McNab founder and executive chairman Michael McNab says the second joint venture demonstrates growing confidence in both the Brisbane property market and McNab’s ability to deliver.
“We’re incredibly proud of The Tannery and our vision to set a new benchmark in apartment living in Brisbane’s sought-after West End precinct,” he says.
“We’ve taken great care to preserve the original 19th-century Dixon’s Tannery, reimagining it as ‘The Retreat’, a communal wellness space at the heart of the vibrant 10-storey residential precinct.”
The Tannery at 439 Montague Rd, designed in collaboration with Cottee Parker Architects, Aspect Studios and Tom Mark Henry, will deliver 87 two, three and four-bedroom apartments.