Build to Rent developer, owner and operator – Novus – unveils its next Build to Rent project – Novus on Bowen – in Melbourne’s inner South. The scheme has recently received settlement and Planning Amendment Approval.
The site – located at 2 Bowen Crescent – was acquired in an off-market transaction via Walter Occhiuto of Dawkins + Occhiuto for an undisclosed amount.
The site was purchased with an existing planning permit in place and the scheme has been redesigned by Rothelowman Architects to tailor its use for Build to Rent, with Planning Amendment Approval received from City of Port Phillip Council in February.
CBRE Debt Advisory Services contributed to the settlement milestone, with a builder announcement expected shortly.
Designed with convenience and health and wellness in mind, Novus on Bowen will deliver 215 purpose-designed Build to Rent homes spread across 18 levels in a mix of studio, one-, two-, three- and four-bedroom apartments. Amenities include a full-line gym, indoor pool, wellness area, sauna/steam room and ice plunge.
The façade seamlessly connects indoor and out, and is complemented by a ground floor retail offering. Residents will also benefit from the exclusive rooftop terrace which provides uninterrupted views across the Domain and Albert Park.
“Novus on Bowen marks our second addition to the Melbourne skyline, and we are delighted to see this offering come to the market in 2026. The site is truly one-of-a-kind, adjacent to the soon to be completed Melbourne Metro Anzac Station, providing direct access to major employment, education, and health care precincts, every four minutes.
“Our team is thrilled by the prospect of not only delivering another Build to Rent development in Melbourne’s inner-city precinct, but also demonstrates our commitment to the company mission: to create homes for 10,000 people. Across the Eastern seaboard there is plenty of activity happening for Novus with several projects in various stages in Paramatta, Chatswood and Melbourne, while our flagship Southbank asset, Novus on Sturt, is set to welcome our first residents later this year.”
Adam Hirst, CEO, Novus
The development’s environmental credentials will target an average 7-star NatHERS, net zero emissions during operations, be an all-electric building, allow for generation of renewable energy on site, employ green electricity via a building embedded network, and all parking will be future-proofed for EV charging.
Practical completion of Novus on Bowen is expected in mid-2026, with construction set to start mid this year.
