Investment manager Investa and Oxford Properties Group celebrated a construction milestone, topping out at the Indi Footscray Build to Rent development in Melbourne.
The celebration was marked with a formal tree topping out ceremony attended by representatives of Oxford Properties Group, Investa, builder Roberts Co, architect SJB, and other project partners.
The construction milestone sees the building achieve its maximum height of 20 storeys (70 metres), offering City, Bay and district views from level three up across all buildings, particularly from the rooftop garden terraces.
“Investa is delighted to celebrate this important milestone with Oxford and our project team. Indi Footscray is our first and largest Build to Rent project in Melbourne, and the largest living sector project in our portfolio.
“Our goal is to transform the rental experience in Australia with residents at Indi Footscray enjoying a contemporary lifestyle in a vibrant neighbourhood, with abundant amenities, convenient access to transport, and easy access to shops and dining.
“Investa’s Build to Rent management platform Indi, will bring to life a market-leading portfolio of nearly 1,400 apartments with an end value of ~$1.0bn.
“Indi Footscray follows the successful opening of Indi Sydney, the city’s first purpose-built Build to Rent tower in November 2024.”
Mark Tait, Head of Development, Investa
Built by Roberts Co, the Indi Footscray Build to Rent development includes 702 studios, one-, two- and three-bedroom apartments that will provide homes for over 1,200 residents.
Amenities and benefits include tailored resident events, a rooftop barbecue and dining area, co-working spaces, a fitness centre, cinema, and a centrally located public piazza with retail.
The scheme is due to complete in Q3 2025, with the first residents moving in shortly after.
“Roberts Co is proud of our partnership with Investa, and we appreciate their trust in us to build a project of this scale and significance.
“This milestone reflects our shared commitment to delivering a high-quality, sustainable project that sets new standards not only in lifestyle but also in environmental responsibility, ensuring that Indi Footscray contributes positively to the community and its future.”
Matt Bourne, Chief Executive Officer, Roberts Co
Indi Footscray will boast smart building and sustainability features including meeting the Residential Low Carbon Building Criteria under the Climate Bonds Standard.
The development is fully electric with all common areas powered by 100% renewable electricity. The development has achieved a 7 Star average NatHERS Energy rating and is targeting a 5 Star Green Star Buildings rating.
Indi Footscray offers residents an inner-city lifestyle with its vibrant café, bar and dining scene, and local attractions including the Footscray Markets, great parks and the recently upgraded Whitten Oval.
The scheme is also located adjacent to Footscray train station, which provides direct access to Melbourne’s CBD within 12 minutes.
“Topping out is an important occasion for Indi Footscray and we would like to acknowledge and thank all our project partners and the workforce who have contributed to this milestone.
“Oxford is a high conviction investor in Build to Rent globally, and we find market fundamentals in Australia particularly compelling.
“Strong rental demand, population growth, and evolving lifestyle needs continue to drive demand in the living sector, and we look forward to our Indi product continuing to set a new benchmark for the rental experience in Australia.”
Ian Lyon, Vice President, Head of Development Asia Pacific, Oxford
This is the latest milestone achieved by the Indi Build to Rent platform, which is owned by Oxford Properties Group and developed and managed by Investa.
It has reached nearly 1,400 apartments across three assets in Melbourne and Sydney and aims to transform the experience of renting.
This news follows on from the recent opening of Indi Sydney – the platform’s flagship Build to Rent scheme which includes 234 apartments directly above the recently opened Gadigal Metro Station. It is the first Build to Rent development in Sydney’s CBD.
