Fully integrated global real estate platform Greystar has opened the second tower at its Haiku Yarra Build to Rent development in South Yarra.
Haiku Yarra offers studio, one- and two-bedroom apartments with high-end finishes, flexible layouts, and city skyline views. The scheme aims to provide long-term security for renters in a tight market, with lease terms of up to three years.
Amenities include a rooftop saltwater spa and sundeck with panoramic city views, a health and wellness centre with dedicated yoga and Pilates studios, a co-working lounge with private meeting rooms, private dining spaces, a lounge and games room, a pet spa, and an on-demand podcasting studio.
Haiku Yarra is also professionally managed by a dedicated concierge and resident services team, offering support such as parcel collection, dry cleaning, dog walking, on-site maintenance, and a calendar of community events.
“When you choose to live in Haiku, you’re not just renting an apartment, you’re owning a lifestyle. We believe renting is a choice you should feel proud of and that everyone deserves to rent a place they truly love.
“We’re excited to open our third build to rent community in the highly sought after suburb of South Yarra, centred around the things we know renters love – dining out, active lifestyles and connection.
“Haiku is known for doing things differently, first with our ‘Find Love (or a New BFF) at the Claremont’ offer and now with our ‘Love it or Leave it’ commitment.
“Our strategy is to create a rental experience where residents feel valued and have the ability to truly love where they live. This directly challenges the traditional rental model in Australia, where renters are effectively trapped in leases, even if the property fails to meet their standards.
“Haiku offers a completely different experience to what Australian renters are used to. We’ve eliminated the pain points of chasing an agent or landlord for an urgent repair, waiting in long queues at rental inspections or dealing with the uncertainty of a short-term lease. Residents can enjoy a lifestyle, with less worry and more flexibility and freedom.”
Matt Woodland, Managing Director, Greystar Australia
The development introduces an industry-first ‘Love it or Leave it’ guarantee. Under this scheme, residents who find the property does not meet their expectations can provide 30 days’ notice to leave without penalty.
The approach follows Haiku’s previous offer at its Claremont tower, aiming to give renters more control and choice in a market where breaking a fixed lease can otherwise result in financial penalties.
Designed by Melbourne-based architecture firm Fender Katsalidis and constructed by builder Hickory, the interior design was led by Hecker Guthrie in collaboration with the not-for-profit Craft, incorporating artwork from local artists throughout the development.
Located at 16 Yarra Street, Haiku Yarra is positioned within walking distance of local fitness studios, the iconic Tan Track, and Melbourne dining destinations including France-Soir, Cucina, Yugen, and Prahran Market, supporting a vibrant and active lifestyle.
The opening of Haiku Yarra represents the third scheme in Greystar’s Haiku portfolio in under a year, following Haiku Claremont and Haiku Gladstone. Greystar continues to expand its Build to Rent portfolio in Australia, including the upcoming Zetland development in Sydney, scheduled for completion in 2027. The developments are backed by Greystar investors and NAB.
