Investa and Oxford Properties Group (‘Oxford’) today celebrated the official opening of a flagship Build to Rent (BTR) asset, Indi Sydney, the first purpose-built BTR building in the Sydney CBD, centrally located directly above the recently opened Gadigal Metro Station on Pitt Street.
Developed by Investa on behalf of owner Oxford, and delivered by CPB Contractors, Indi Sydney comprises 234 apartments, with a mix of one, two and three bedrooms, that will provide homes for over 500 residents.
Indi Sydney offers sweeping views over Hyde Park, the city and Sydney Harbour, and includes three levels of superior shared resident space including co-working meeting rooms; a wellness level with lap pool, spa, sauna, yoga space and gym; and a rooftop lounge and dining room with a kitchen and BBQ area. The building boasts sustainability credentials, including a 7-Star NatHERS energy rating and is targeting a 5-Star Green Star Design and As Built rating.
The Indi Sydney milestone was commemorated with a ribbon-cutting ceremony today where Investa, Oxford and representatives of the Indi Sydney delivery team including CPB Contractors, architect Bates Smart and property industry stakeholders celebrated.
Indi Sydney is the first BTR building to open, in a portfolio of 1,370 apartments with an end value (upon completion) of approximately A$1.0 billion. Two additional assets are under construction in Melbourne.
The Indi platform is setting a new standard for BTR in Australia, designed to meet the increasing demand for quality rental properties from urban professionals impacted by Australia’s critical lack of housing supply. These discerning renters are seeking flexible lease terms, an ability to personalise their apartments, and access to hotel-style communal amenities, supported by dedicated on-site customer service.
Indi Sydney leasing commenced in October, ahead of the first “open house” event this coming weekend. The first residents will be welcomed to their new Indi Sydney homes in early December.
Sally Franklin, Chief Operating Officer, Real Estate, Investa said, “Today’s opening of Indi Sydney is a significant milestone for Investa. Indi Sydney not only sets a new benchmark for institutional-owned BTR assets in Australia, it also demonstrates Investa’s expertise in partnering with government to deliver a complex over-station development and provide much needed homes.”
“The overwhelming early leasing interest from prospective residents shows that Investa has created an attractive BTR platform that will fill a gap in the market for quality, well located rental apartments.”
Alec Harper, Head of Australia, Oxford said, “Oxford is a high conviction investor in BTR globally, with the ability to deliver much needed new rental supply in Australia compelling from both an economic, and social value perspective.
“We look forward to Indi Sydney meaningfully contributing to housing choice, while setting the high-water mark for the BTR rental experience in Australia.”
Mark Tait, Head of Developments, Investa added, “Housing supply is the number one priority for governments all around the country. Institutional investment in the living sector, including BTR, is an important part of the solution and will help to fast-track housing supply that meets the needs of evolving households and lifestyles.”
“Investa is delighted to be at the forefront of the living sector and presenting high quality assets such as our purpose-built Indi platform.”
