Integrated property provider Celsius Property Group has received planning permission from The Department of Planning, Lands and Heritage to develop the Shenton Park development in Perth.
The $250m scheme on two lots at DevelopmentWA’s Montario Quarter precinct will see the delivery of a 13-storey Build to Rent building and eight-storey Build to Sell block, valued at $150m and $100m. Celsius has stated that it is also currently working with capital partners to deliver the Build to Rent aspect at Shenton Park.
“Since January 2021 there has been a reduction of over 21,000 residential investment properties across Western Australia as thousands of Mum and Dad Investors take advantage of increased values to exit the market. Invariably these homes have been sold to highly active owner occupiers displacing thousands of tenants and pushing up Perth rental values.
“Whilst east coast investors have been very active in the greenfields on the urban fringes, professional tenants looking to live close to the city have been starved of options. At the same time right sizers are desperate to move out of the, no longer fit for purpose, family home whilst staying in their local community in more appropriate housing.”
Richard Pappas, Managing Director – Celsius Property Group, WA President – The Urban Development Institute of Australia
Designed by architects Rothelowman and situated on Lot 36 in Montario Quarter, the Build to Rent tower will deliver 226 studios, one-, two-, and three-bedroom apartments. The Build to Sell development on Lot 35 will deliver a further 72 homes and has been designed by Space Collective Architects.
“Community interaction within the building and the relationship with Celsius’ neighbouring Build to Sell development was important … [and] … we have created a new cross-block link to connect both buildings and improve pedestrian movement across the whole precinct.”
Damian Butler, Senior Associate, Rothelowman
Architecture firm Urbis lodged the planning submission for both components. Overall, Shenton Park marks Celsius’ entry into the Build to Rent market, which has grown rapidly across Australia in recent years.
Celsius hopes to begin works on the development in Q2 2025 and reach completion by mid-2027.
“Having designed almost 20% of the Build to Rent housing supply in Australia, Rothelowman’s national Build to Rent experience, our understanding of design and operational nuances of this housing typology … has allowed us to collaborate with Celsius.”
Kylee Schoonens, Principal, Rothelowman Perth
