CONSTRUCTION is underway at Sentinel’s first Victorian build-to-rent development at 164-168 Roden Street in West Melbourne.
The $150 million 172-apartment development, located on a 3,600sqm site 2km north-west of the Melbourne CBD, builds on the success of Sentinel’s 2019-finished Element 27 build-to-rent project in Perth.
“We are seeing great potential in Melbourne’s housing market, with underlying drivers remaining strong we believe there are significant long-term growth opportunities in the city. As people return to city-centres this year and with international borders now open there will be a new view on living situations,” said Keith Lucas, managing director of Sentinel Fund Manager Australia.
The Rothelowman-designed Roden Street development will be delivered by Crema Constructions and will offer potential buyers one-, two- and three-bedroom apartments, with retail space on the ground floor.
Resident amenities will include a rooftop terrace, gym, business centre, resident’s lounge, internal green courtyard, as well as on-site Sentinel management and maintenance staff.
“Our new Build to Rent project on Roden Street will deliver premium rental apartments to the desirable and well-connected West Melbourne area. Residents can be part of a highly sustainable, community-focused and renter-oriented living experience, with our onsite building management team at their fingertips,” added Lucas.
The fossil-fuel-free project will be will be built and has been designed with an emphasis on sustainability, targeting a 5-Star Green Star GBCA rating and carbon neutral certification, with 121 bike parking spaces, EV charging, embedded network metering and green power supply.
Sentinel now has over 1,000 build-to-rent units under development, with plans to grow its pipeline in the emerging sector to $1 billion of investment over the next four years. With Phase 1 of its Element 27 development now complete and Phase 2 now offering units.
“Our successful Build to Rent model will offer Melbournians flexibility as well as an unrivalled lifestyle and convenience in sought-after locations like West Melbourne,” concluded Lucas.
Sentinel’s Roden Street build-to-rent development is due for completion in early-2023.
