Owner of the scheme Oxford Properties Group and investment manager Investa, alongside Melbourne-based developer PDG, have topped out at the Indi Southbank Build to Rent development in Melbourne’s Southbank area.
This milestone marks the completion of the structural phase of construction after two years, with the scheme set to be completed by mid-2025 with residents moving in shortly after. It is being overseen by PDG Construction Manager Josh Griffiths.
“Indi Southbank will offer an unparalleled living experience at Boyd Village in the heart of Southbank, blending residential charm with expansive parks, green spaces, and a variety of leisure and co-working areas.
“These will perfectly complement the existing communal facilities at the heritage-listed Boyd Community Hub, which includes the library, café, and art studios.”
Vince Giuliano, Founder and Managing Director, PDG
On 24 February 2025, representatives from Investa, Oxford, PDG, and builder Hamilton Marino – who provided guests with a tour of Boyd Village in May 2024 – joined the City of Melbourne’s Lord Mayor Nicholas Reece to celebrate at the topping-out ceremony held on Level 43 of the development.
“Build to Rent is an important pillar in Melbourne’s diverse and inclusive housing market.
“The Boyd Village offering delivers superb modern living, in sought-after Southbank.
“This milestone signals ongoing confidence in Melbourne as the best city to invest, build, and live.”
Nicholas Reece, Lord Mayor
Indi Southbank is part of the Boyd Village precinct – a collaborative effort between PDG and the City of Melbourne. The Boyd Village precinct includes residential and affordable housing options, as well as public amenities such as the heritage-listed Boyd Community Hub.
Indi Southbank comprises 434 apartments, including at least 40 affordable homes, alongside public amenities designed to benefit the local community.
Amenities include co-working areas, a cocktail lounge on Level 42 with city views, a variety of entertainment rooms, a heated swimming pool, gym and landscaped outdoor areas.
“Oxford is a high conviction investor in Build to Rent globally, and we’re proud to expand our Indi footprint in Melbourne. The undersupply of rental accommodation, population growth, and evolving lifestyle needs continue to drive demand in the living sector across Australia.
“The Indi platform brings to life a market-leading portfolio of nearly 1,400 apartments and we look forward to continuing to provide meaningful housing solutions and a unique rental experience for Australians.
“Reaching this milestone is a significant event for Oxford, and we extend our gratitude to our project partners and the dedicated workforce who have made this achievement possible.
“Oxford is a high conviction investor in Build to Rent globally, and Indi Southbank is one of three Build to Rent assets in Australia.
“We are excited for our Indi product to set a new standard for the Build to Rent experience in Australia.”
Ian Lyon, Vice President and Head of Development Asia Pacific, Oxford Properties Group
Located at 132 Kavanagh Street, the Indi Southbank Build to Rent scheme will feature smart building technology and sustainability initiatives, including a 7-star NatHERS energy rating and targeting a 5-star Green Star Buildings rating. It is set to meet the Residential Low Carbon Building Criteria under the Climate Bonds Standard.
“Investa is thrilled to celebrate this important milestone with PDG, Oxford and the project team. Our goal is to transform and elevate the rental experience in Australia.
“We are committed to setting a new standard for modern living that comes with more freedom, flexibility and peace of mind. Indi Southbank will truly be ‘renting built around you’.”
Sally Franklin, Chief Operating Officer – Real Estate, Investa
The development will bring Oxford and Investa’s Indi platform to life in Melbourne. Indi Southbank follows the completion of Indi Sydney, which opened in December 2024, and Indi Footscray, which topped out in late 2024.
“The Indi promise: ‘Renting built around you,’ is about elevating the rental experience for our customers, helping them feel at home in an Indi community.
“The Indi brand has clearly resonated with Sydneysiders, and we are looking forward to releasing our two Melbourne properties to the market later this year.”
Peter Menegazzo, Chief Executive Officer, Investa
Boyd Village promises to be a transformative addition to the Southbank community, offering increased access to affordable housing options in Melbourne’s dynamic inner city.
