Property group Salta has received a planning permit to progress its next Build to Rent scheme at 699 La Trobe Street in Melbourne under its Est brand. The development will deliver a 37-storey tower comprising 554 design-led apartments and 26 affordable housing apartments.
Located at the prominent corner of La Trobe Street and Harbour Esplanade, the scheme sits in a landmark waterfront location at the gateway between the City and Docklands within the Marvel Stadium precinct.
Designed by architecture practice FK, the tower has been conceived as two interlocking volumes with varied setbacks, breaking down the scale of the building along Harbour Esplanade.
“Melbourne is one of the most compelling Build to Rent markets globally, supported by strong population growth, diverse renter demographics and a strong interest from institutional capital seeking long-term residential investment opportunities.
“Our Docklands project demonstrates how well-located sites with excellent transport connectivity, lifestyle amenity and strong rental demand can support high-quality, professionally managed rental communities and respond to the evolving needs of modern renters living in them.”
Edward McAuliffe, Director of Residential Development and Build to Rent Operations, Salta
The design incorporates a landscaped forecourt and an activated ground plane, enhancing the public realm and strengthening connections to the surrounding waterfront precinct. Amenities include co-working and communal spaces.
The development’s interiors have been conceptualised to support the delivery of long-term rental housing within the inner city. It will be the third within Salta’s Est Build to Rent pipeline, taking the total portfolio to over 1,100 apartments following the completion of its maiden scheme Fitzroy & Co in October 2024, and with 25 River Boulevard Richmond under construction and scheduled for completion in Q4 2027.
“Est by Salta is grounded in a belief that rental living should be thoughtfully designed, community-focused and enduring. Every Est project is shaped by a strong commitment to design excellence, sustainability and the creation of spaces that support connection and wellbeing.
“At Docklands, that means delivering high-quality apartments alongside considered shared amenities, co-working spaces and services that enable residents to live, work and connect with their community. Importantly, the project has also been designed to contribute positively to the surrounding precinct through an activated ground plane and a building form that responds carefully to its prominent waterfront location.
“We look forward to continuing to work closely with planning consultants Urbis and the Department of Transport and Planning as the project progresses into the next phase of design development.”
Emma Woodhouse, Chief Operating Officer, Salta
Once complete, the scheme will establish a distinctive new gateway tower within the Marvel Stadium precinct while delivering much-needed new housing supply in the City of Melbourne.
“Our design brings together a distinctive and resolved building form, carefully integrated shared spaces and strong relationship to its surroundings to support a more cohesive and connected precinct, while delivering increased housing capacity and contributing to the longterm vitality and character of Melbourne’s growing harbourfront.”
Nicky Drobis, Head of Design and Partner, FK
According to the Franklin Street 2026 Build to Rent Market Report, Australia’s Build to Rent sector is fast accelerating, with the national pipeline having doubled in recent years and over 16,000 Build to Rent apartments now operational.
The report also notes improving project feasibility, with rental growth outpacing construction cost increases and cap rates stabilising around 4% to around 4.5%, signalling growing confidence from institutional investors.
