Owner, manager and developer of institutional-grade commercial real estate – Investa – has celebrated the topping out of their Indi Sydney Build to Rent development.
Situated directly above the new Sydney Metro Gadigal Station (formerly known as Pitt Street Station), Indi Sydney will stand at 39 storeys once complete.
The scheme will deliver 234 Build to Rent homes – a mix of one-, two- and three-bedroom apartments which accommodate over 500 residents.
“Institutional investment in Build to Rent will play an integral role in helping alleviate the acute accommodation shortfall experienced across Australia, especially in a market such as Sydney. Investa’s approach to the living sectors is about rethinking how Australians live and positioning capital to benefit from changing lifestyle trends and attitudes by investing across a mix of accommodation styles to meet residents’ needs including Build to Rent, co-living and affordable housing strategies.”
Nick Blake, Fund Manager, Build to Rent, Investa
With scenic views over Hyde Park and the Sydney Heads, Indi Sydney includes three levels of resident amenities including co-working meeting rooms, a wellness level with lap pool, sauna and workout equipment, and a rooftop lounge with a kitchen and BBQ area.
With a focus on providing a streamlined leasing experience, Indi will offer residents flexible lease terms, an ability to personalise apartments, and dedicated on-site customer service.
“Oxford is a high conviction investor in Build to Rent globally, with market fundamentals in Australia particularly compelling. We look forward to Indi Sydney setting the high-water mark for the Build to Rent rental experience in Australia.”
Alec Harper, Head of Australia, Oxford Properties Group
Boasting leading sustainability credentials – including a 7-Star NatHERS energy rating and a 5-Star Green Star V1.3 Design – the Indi Sydney development will appeal to residents seeking the convenience of a CBD location, incorporating high-end services and shared amenities with direct transport access via Sydney Metro.
Developed by Investa on behalf of the owner, Oxford Properties Group and delivered by CPB Contractors, Indi Sydney represents the first and only Sydney CBD purpose-built Build to Rent asset.
“We’re delighted to work with Investa and Oxford to deliver this flagship Build to Rent asset in Sydney’s vibrant midtown precinct.”
Camillo Masci, Executive General Manager Building, Broad, Defence, CPB Contractors
Indi Sydney is expected to complete in late May 2024, with the first residents expected to move in from July 2024.
Investa’s specialist Build to Rent management platform Indi will oversee the management of the asset on behalf of Oxford.
“Indi Sydney will be an exemplar Build to Rent project, showcasing Investa’s expertise in delivering complex and state significant over-station development schemes and will set the standard for institutional-owned Build to Rent assets in Australia for the foreseeable future.”
Mark Tait, Head of Developments, Investa
Together with Indi Footscray and Indi Southbank in Melbourne, Indi has over 1,300 apartments under construction with an end value of ~$1.3bn in Australia.
