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HomeNewsConstruction & DevelopmentsCase Study: Home Richmond Build to Rent scheme

Case Study: Home Richmond Build to Rent scheme

The value differentiator - Home Richmond in Victoria test case for amenity-driven living in the Build to Rent sector.

Masterplan and residential architects SJB and developer Home are proud to release an insight into its Home Richmond development in the desirable neighbourhood of Richmond, Victoria.

Partnering in 2019, SJB met with developer Home and Coles Group to undertake an urban analysis on the existing site at the prominent intersection of Church Street and Bridge Road in Richmond, with Coles Group.

“We researched the model and its success in major metropolitan cities like London and New York to understand the target market and best practices in the sector.

“It’s an in-demand rental option for young urban professionals who are unable to
break into property ownership but have a medium-to-high income and want to live in a great area in premium accommodation with amenities like a concierge and gym.”

Nigel Morris, Director, SJB

Overview

After reaching completion last year, two set-back residential towers make up Home Richmond. Containing one and two bedroom apartments, 368-unit Home Richmond sits on a 12,000 sqm site, where the ground plane is made up of a series of revitalised and now activated street frontages and new laneways to create an integrated and vibrant public realm.

Typical one bedroom apartment. Image credit: Lisa Cohen | BTR News Australia
Typical one bedroom apartment. Image credit: Lisa Cohen.

The scheme is situated above Richmond Traders – the enlivened new market hall and workplaces, where a Coles and 16 other trading tenants take occupancy. The 4,000 sqm supermarket is situated alongside approximately 3,000 sqm of commercial office space fronting onto Bridge Road.

The residential buildings relate to Richmond’s industrial heritage, incorporating saw-tooth metal roofs above robust, textural concrete forms within the architectural design of the scheme. The individual buildings and street frontages take architectural cues from the industrial, interwar, and period buildings that are synonymous with this part of Richmond.

“The development needed to be completed in stages so that the retail precinct could open quickly to the public.

“Working with NH Architecture on the retail strategy, and contractor Hacer Group, we overcame many obstacles – negotiating the best use of value management to deliver a sophisticated and well-programmed mixed-use project. Entry points are
clearly defined for the retail, commercial, residential and parking zones and the market hall has many new through-site links between Church and Bridge Streets.”

Tracy Xia, Associate, SJB
Coles. Image credit: Diana Snape | BTR News Australia
Coles. Image credit: Diana Snape.

Home Richmond apartments

Apartment spaces are refined and minimal, while the shared facilities are filled with volume and colour to enhance a sense of community and social values. The apartments are available furnished or unfurnished, and, as a pet friendly scheme, tenants can design their homes the way they like to ensure comfort and individuality for themselves and their companions.

Amenities / communal spaces

Amenities at Home Richmond include a 24/7 concierge, pool, gym and wellness centre, private theatre rooms, co-working space, outdoor terraces, and Tesla hire cars which are exclusive to residents. 250+ underground car parking spaces are also available for residential use.

Local Area

Situated east of the Melbourne CBD, Richmond is a multicultural city that is full of life. Church Street is well-known in the area for its furniture and design stores, whilst Victoria Street is popular for its array of Asian grocery stores and eateries. The vibrancy of the city makes it a thriving and idealistic place to live and work, with convenience and community an integral part of the local area. Located in this desirable Melbourne-based city, Home Richmond sits within its bustling heart.

Transport

Richmond contains a vast transport system. The Home Richmond Build to Rent development is only a four-minute drive – or 20-minute walk – away from Richmond Station, where residents can easily reach popular destinations such as Cranbourne and Belgrave. Just a ten-minute walk away from the city centre, the development is ideally suited for commuters, working professionals, and anyone who thrives in the vibrancy of city life.

Bea Patel
Bea Patel
Bea is Co-founder and Editor at BTR News Australia, BTR News and PBSA News - and has many years of experience in the media industry, with a specific focus on the property industry.

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