A New Build-to-Rent Project in Melbourne has Opened

(cc_by) Bengt Nyman

22 August 2022 | Melbourne, Australia

A 60-level tower in Southbank, has opened its doors with a third of its 400 apartments now occupied. Home, a build-to-rent development and investment business formed in 2017, is behind the rental project at 256-260 City Road—alongside the Crown Entertainment Complex and Southbank Waterfront Precinct. Builder Icon concluded construction on the AU$250-million (US$168-million) project in April 2022, marking the first of 20-plus institutional-grade build-to-rent projects in Melbourne’s 80000-apartment pipeline.

Unlike traditional rental accommodation, the tower is managed by Home’s onsite resident services team who handle parcel and mail collection, dry cleaning, pet grooming, furniture assembly, Tesla car share and onsite maintenance support.

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The building has also been configured to maximize panoramic views of the CBD and Port Melbourne. The penthouse level is instead a communal space providing tenants with access to a private banquet room and kitchen, residents’ club, cinema and co-working spaces. Its lower levels feature an indoor pool, gym, pilates and spin studio as well as communal terraces, barbecue areas and fire pits. Meanwhile, a street-facing cafe and wine bar—with room service options—complete the ground floor lobby area.

For more on this story go to Urban Developer.