Build to Rent owner, developer and operator Novus, in partnership with M&G Real Estate, celebrate the official topping out of its Novus on Sturt Build to Rent project in Melbourne’s Southbank. The milestone was officiated by Deputy Lord Mayor Nicholas Reece.
Located in the heart of the Cultural Arts Precinct, the 163-apartment development comprises studios, one-, two- and three-bedroom homes and a ground floor retail offering – with construction on track to complete in Q3 2024.
Jason Goldsworthy, Chief Development Officer and Co-Founder at Novus said the construction milestone follows years of hard work on design, approvals and sector specific challenges.
“As Novus’ first operational asset, we couldn’t be prouder to bring our product to the market later this year and see first-hand how it is embraced by our residents. After years of crafting a unique offering, Novus on Sturt will exemplify our points of difference in the Build to Rent space and puts us firmly on track to achieving our mission of creating homes for 10,000 people.”
Jason Goldsworthy, Chief Development Officer and Co-Founder, Novus
Hamilton Marino Builders began construction of Novus on Sturt in 2022. The development provides a welcome addition of rental stock to the Melbourne market – and comes at a strategic time in the cycle, with record low vacancies, surging demand and diminishing supply placing pressure on renters.
Deputy Lord Mayor Nicholas Reece said he was pleased to see the construction milestone achieved for what will be an exciting addition to Southbank, located in the heart of the Cultural Arts Precinct.
“Melbourne is Australia’s largest city – and our population boom shows no signs of slowing. Projects such as Novus on Sturt will help us accommodate more residents and address rental supply challenges. We’ve seen a spike in migration with more people choosing to live in Melbourne, thanks to our global ranking as one of the most liveable cities in the world. So, the timing on this project could not be better.”
Deputy Lord Mayor Nicholas Reece
With leasing of the highly anticipated development is set to start next month, and with Novus welcoming its first residents in October, Hamilton Marino Builders Director Matt Green said the topping out marked an important achievement.
“The top out of Novus on Sturt marks a significant milestone in our commitment to delivering high-quality living spaces to the vibrant community of Southbank. We’re proud to contribute to the growth of Melbourne’s rental market and provide residents with modern, comfortable homes in this sought-after location.”
Matt Green, Director, Hamilton Marino Builders
