Following the launch of Third.i Group and joint venture partner Phoenix Property Investors’ Stage 1 at Hume Place, named Elevate, plans for Stage 2 are to be delivered as a Build to Rent offering.
Cushman & Wakefield has been appointed to sell the completed asset, which will deliver 476 apartments including approximately 60 units designated as affordable housing for frontline and key essential healthcare workers.
Stage 2 aims to provide an enhanced focus on public spaces, with a proposed 15% dedicated to key and essential worker affordable housing.
The amenities earmarked for Stage 2 at Hume Place include an innovative health and wellness centre, golf simulator, co-working space, cinema, rooftop bar, pool, music rooms, and much more.
“As cities grow and populations increase, the demand for flexible, high-quality rental options has surged. Build to Rent developments such as Stage 2 at Hume Place are designed to meet this demand by offering a diverse range of apartment sizes and layouts that cater to various demographics, from young professionals to families and essential workers.”
Josh Cullen, International Director & Head of Capital Markets, Australia and New Zealand, Cushman & Wakefield
The Build to Rent market is becoming increasingly recognised as a vital component in addressing housing shortages and evolving urban needs.
With a limited number of Build to Rent projects in the pipeline in Sydney, Stage 2 at Hume Place is already attracting significant interest from international institutional capital looking to acquire the completed asset.
“Stage 2 at Hume Place is set to become a market-leading Build to Rent asset, generating significant interest both locally and internationally.
“Crows Nest stands out as one of Sydney’s most connected locations, thanks to the new Metro station that places residents just seven minutes from the CBD. This exceptional connectivity, combined with the suburb’s affluent demographic and anticipated population growth, creates a compelling case for a luxury Build to Rent offering. We are witnessing strong demand from investors who recognise the potential for high-quality rental options in this vibrant community.
“As we develop Stage 2, our focus will be on delivering not only stylish and sustainable living spaces but also amenities that foster a sense of community and well-being, ensuring that Hume Place meets the needs of modern urban dwellers.”
Robert Huxley, Co-founder, Third.i Group.
Elevate – stage 1 at Hume Place – had almost 6,000 leads and over 300 appointments during its opening weekend.
The demand for apartments above the Crows Nest Metro station from both local and overseas buyers is unprecedented due to its connectivity to Sydney’s CBD.
“We have been overwhelmed with interest for Elevate Hume Place, with 6,000 leads so far and around 300 groups visiting the display suite on our opening weekend alone.
“This remarkable interest underscores the demand for quality living spaces that offer exceptional connectivity, particularly with the Crows Nest Metro station providing direct access to the CBD in just seven minutes. The combination of stunning architecture and the convenience of urban living has truly resonated with both local and international buyers.”
Luke Berry, Co-founder & Director, Third.i Group
Third.i is one of Australia’s leading property development and investment firms, with an enviable track record in successfully delivering large-scale residential projects in Sydney and Newcastle. The company has a current development pipeline exceeding $4bn.
