NRF Invests $120M in Wesfarmers-Backed Built Living Factory
Synopsis
The National Reconstruction Fund is providing $120 million in debt financing to help Built Living establish an advanced manufacturing facility in Western Australia for modular and precast apartment components, with capacity for 2,000 apartments a year and 300 construction and ongoing jobs.
The National Reconstruction Fund (NRF) is investing $120 million in Built Living which is a joint venture between Wesfarmers and construction and property group Built, to help expand advanced manufacturing for Australia's housing sector.
The debt investment will fund a pilot facility in Neerabup, Western Australia, where Built Living plans to manufacture modular and precast concrete components for apartments.
Construction is expected to begin in the second half of 2026. Once operational, the facility is expected to produce components for up to 2,000 apartments a year.
The project comes as Australia faces continued pressure to increase housing supply while dealing with high construction costs and lengthy building timelines.
New Facility Aims to Cut Apartment Costs and Construction Time
Built Living says its manufacturing approach could help deliver apartments up to 20% cheaper and 50% faster than traditional construction methods.
Rather than producing entire buildings on site, the company will manufacture key components in a controlled facility before transporting them to construction sites for assembly.
The approach could reduce some of the delays associated with conventional building work. It may also improve consistency by shifting parts of construction into a factory environment.
The Neerabup facility is expected to support around 150 construction jobs during development and create another 150 ongoing jobs once operational.
The Western Australian government is also supporting the project with a $20 million grant and land for the facility.
Wesfarmers and Private Investors Back the Project
Wesfarmers committed $100 million in equity to Built Living in May 2026, adding to the government-backed funding for the project.
Property developer Adrian Fini, co-founder of Hesperia, also holds a direct equity interest in the facility.
For Wesfarmers, the investment extends its involvement in manufacturing beyond its established retail and industrial operations. For Built, the project offers a way to apply manufacturing techniques to one of Australia's biggest construction challenges.
The NRF's investment also reflects the federal government's broader push to support domestic manufacturing and projects that can strengthen Australia's productive capacity.
If Built Living can achieve its projected cost and speed improvements at commercial scale, the facility could become a model for using advanced manufacturing to increase apartment supply.
The bigger test, however, will be whether the technology can move beyond a pilot facility and be adopted across Australia's housing market.
Source: Capital Brief
Vishal is an experienced Editor at Inspirepreneur Magazine with key interests in artificial intelligence, eCommerce, entrepreneurship, lifestyle and startup sector. Prior to joining Inspirepreneur, he was a Content Writer cum Correspondent at Siliconindia Magazine, where he worked on Company Profiles, Cover Stories, Executive Profiles, Feature Articles and Thought Leadership content.
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