Developer Investa and Oxford Properties Group, alongside CPB Contractors, have officially launched and opened the flagship Indi Sydney Build to Rent development.
The milestone was commemorated with a ribbon-cutting ceremony where Investa, Oxford Properties Group, CPB Contractors, architects Bates Smart and property industry stakeholders celebrated the achievement.
Leasing for the scheme started in October, ahead of the first ‘open house’ event this coming weekend. The first residents will be welcomed to their new homes in early December.
“Today’s opening of Indi Sydney is a significant milestone for Investa.
“Indi Sydney not only sets a new benchmark for institutional-owned Build to Rent assets in Australia, it also demonstrates Investa’s expertise in partnering with government to deliver a complex over-station development and provide much needed homes.
“The overwhelming early leasing interest from prospective residents shows that Investa has created an attractive Build to Rent platform that will fill a gap in the market for quality, well located rental apartments.”
Sally Franklin, Chief Operating Officer, Real Estate, Investa
Centrally located directly above the recently opened Gadigal Metro Station on Pitt Street, Indi Sydney includes 234 one-, two- and three-bedroom apartments that will provide homes for over 500 residents.
The Build to Rent scheme provides views over Hyde Park, Sydney city and Sydney Harbour.
The sustainable building boasts a 7-Star NatHERS energy rating and is targeting a 5-Star Green Star Design and As Built rating.
Amenities at Indi Sydney have been spread over three levels and includes co-working meeting rooms, a wellness level with lap pool, spa, sauna, yoga space and gym, and a rooftop lounge and dining room with a kitchen and BBQ area.
“Oxford is a high conviction investor in Build to Rent globally, with the ability to deliver much needed new rental supply in Australia compelling from both an economic, and social value perspective.
“We look forward to Indi Sydney meaningfully contributing to housing choice, while setting the high-water mark for the Build to Rent rental experience in Australia.”
Alec Harper, Head of Australia, Oxford Properties Group
Indi Sydney is the first Build to Rent scheme to open in a portfolio of 1,370 apartments with an end value (upon completion) of approximately $1.0 bn. Two additional developments are under construction in Melbourne.
The Indi platform has been designed to meet the increasing demand for rental properties from urban professionals impacted by Australia’s critical lack of housing supply.
These discerning renters are seeking flexible lease terms, an ability to personalise their apartments, and access to hotel-style communal amenities, supported by a dedicated onsite resident services team.
“Housing supply is the number one priority for governments all around the country.
“Institutional investment in the living sector, including Build to Rent, is an important part of the solution and will help to fast-track housing supply that meets the needs of evolving households and lifestyles.
“Investa is delighted to be at the forefront of the living sector and presenting high quality assets such as our purpose-built Indi platform.”
Mark Tait, Head of Developments, Investa
