Property developer Mirvac has announced that it has opened its LIV Aston Build to Rent development in Melbourne’s CBD, with 70 apartments already leased.
LIV Aston comprises 474 rental apartments and 20 dedicated affordable housing apartments in a mix of studio, one, two, and three-bedroom apartments.
The health and wellness centred amenities include a 25m lap pool and spa, traditional and infrared saunas, fully equipped gym with Technogym equipment, and a multipurpose room for classes.
Residents can also enjoy a rooftop lounge, outdoor dining and BBQ area, cinema and media room, co-working and green spaces, including a pet park.
“Delivering housing supply that meets demand requirements and household accommodation preferences is key to improving affordability in our capital cities. Creating thriving communities is what we do best at Mirvac, and to be able to provide new, high quality rental accommodation in Melbourne is even more important with the backdrop of the current housing supply crisis.
“LIV Aston is centrally located, energy efficient rental accommodation in the heart of the CBD in a growing precinct – an enviable location to access all that Melbourne has to offer.
“We are proud to have pioneered the build to rent sector in Australia, and we are pleased to see the strong response from renters to the launch of LIV Aston as our third operational Build to Rent community, with LIV Indigo in Sydney and LIV Munro at Melbourne’s Queen Victoria Markets now home to more than 1,300 customers.”
Angela Buckley, Build to Rent Sector Lead, Mirvac
LIV Aston is the first operational building within a new mixed-use precinct being delivered by Mirvac at North Wharf, bringing together Build to Rent apartments, a new office building, 7 Spencer Street (which is currently under construction), retail and shared community spaces.
Located next to the city’s recently commenced Greenline project, LIV Aston has been delivered by Mirvac’s $1.8bn Build to Rent venture with investors Mitsubishi Estate Asia Pte. Ltd (MEA) and the Clean Energy Finance Corporation (CEFC).
“As the first Build to Rent development in west end of Melbourne’s CBD, Mitsubishi Estate Asia is thrilled to see LIV Aston setting a new standard and transforming the lifestyle and community at North Wharf.
“Demonstrating strong leasing momentum, LIV Aston leverages the extensive expertise gained from operating LIV Indigo and LIV Munro to offer an elevated, customised living experience.
“We are committed to continue creating high-quality, next generation Build to Rent assets and look forward to welcoming even more customers in the years ahead.”
Yuzo Nishiyama, Head of Australia, Mitsubishi Estate Asia
Recently opened by the Victorian Minister for Planning, the Hon. Sonya Kilkenny MP, and Melbourne Lord Mayor, Nick Reece, the new scheme launches against a backdrop of historically low rental vacancy rates.
“We are proud to be a part of this ambitious Build to Rent strategy which drives enhanced sustainability outcomes for tenants and plays an important role in the decarbonisation of Australia’s rental housing portfolio with its unique whole-of-lifecycle approach.
“Supporting the delivery of clean energy solutions and improving energy efficiency creates better future-ready homes that reduce energy use and costs for tenants whilst tackling greenhouse gas emissions in our residential sector.”
Sara Leong, Chief Asset Management Officer, CEFC
Designed by Fender Katsalidis, with interiors by Hecker Guthrie and built by Mirvac Construction, LIV Aston has ambitious ESG targets, water and waste/recycling initiatives and 100% renewable electricity for residents.
The building is targeting a 7.5-star average NatHERS, 5-star Green Star Design & As-Built and 4 Star NABERS Office Base Building Energy certification.
“We need more homes for more Victorians and this development will ensure hundreds of Victorians can live in a great location close to great public transport, the CBD, jobs and the iconic Yarra River.
“Melbourne is the undisputed Build to Rent capital of Australia thanks to our leading reforms, and we’ll continue to pull every lever we can to enable 800,000 homes of all kinds to be built over the next decade.”
Sonya Kilkenny, Minister for Planning
With a secured portfolio of ~2,200 Build to Rent apartments, Mirvac’s Build to Rent venture has a further ~900 apartments set for completion by the end of 2025.
This includes 396 apartments recently topped out in Brisbane’s Newstead at LIV Anura, along with 498 apartments at LIV Albert Fields, in Brunswick, Melbourne.
“Melbourne is Australia’s largest and fastest growing city – in the City of Melbourne alone we welcomed 17,000 new residents last year.
“It’s vital Melbourne continues to meet demand with quality, liveable and affordable housing, like LIV Aston. The appetite for Build to Rent living in Melbourne is insatiable, and this development will deliver more residents, energy and economic activity into the city.”
Nick Reece, Lord Mayor of Melbourne
Mirvac’s total Victorian development pipeline of $8bn demonstrates its commitment to developing high quality, sustainable assets.
“Within the next financial year, Mirvac’s LIV portfolio will be the first in Australia to operate Build to Rent properties across New South Wales, Victoria and Queensland, demonstrating our market-leading position and ability to deliver.
“In Melbourne, we’re adding a total of 972 new Build to Rent apartments to the market by the end of 2025. Four years of operating LIV Indigo, our first Build to Rent development in Sydney, plus almost two years at LIV Munro in Melbourne has given us invaluable insights into what our customers need and want from our communities.
“More Australians are renting, whether by choice or by necessity. Four years into our operational Build to Rent business, we understand what customers need and want from their living communities and our proven track record speaks for itself.
“LIV Mirvac provides a genuine and new housing choice for renters, whether this be security of tenure while on the path to home ownership or flexibility for when life changes happen, we meet the needs for our residents at key life stages – as well as a real community, not just a place to live.”
Angela Buckley, Build to Rent Sector Lead, Mirvac
