Greystar has officially launched its first build-to-rent (BTR) project in Australia, marking a significant milestone in the country’s rental housing market.
The Gladstone, a $500 million residential development in South Melbourne, brings 700 high-quality rental homes to the area, addressing the growing demand for purpose-built rental accommodation.
Matt Woodland, Managing Director at Greystar Australia, emphasised the project’s importance, stating: “Australian renters have been limited in their access to quality, fit-for-purpose homes for too long.
“The Gladstone’s opening marks Greystar’s first major milestone in changing this reality.”
He added that the development aims to fill a crucial gap in the current housing market by providing homes specifically designed for renters.
The Gladstone comprises three towers offering a mix of studios, one-, two-, and three-bedroom apartments.
Residents will enjoy an array of luxury amenities, including:
- A state-of-the-art 330 square metre gym
- Pilates studio
- Indoor lap pool and outdoor lagoon pool
- Specialty remote working spaces
- Wine room
- Rooftop terraces and bars
- Outdoor cinema
- Pet spa
Each apartment features high-quality finishes and appliances, including reconstituted stone benchtops, induction cooktops, and built-in wardrobes.
The development boasts a 6-star acoustic rating and a 5-star Green Star rating, with all apartments and amenities powered by 100 per cent offsite renewable energy.
The Gladstone is situated in the heart of Melbourne’s cultural hub, offering easy access to iconic landmarks such as South Melbourne Market and Albert Park Lake.
The CBD is readily accessible, and quality education options like South Melbourne Primary School are within walking distance.
Bob Faith, CEO at Greystar, expressed pride in the company’s Australian debut: “The Gladstone marks a significant milestone in Greystar’s legacy as our first official operation on Australian soil.”
He emphasised Greystar’s commitment to providing quality housing in great cities worldwide.
This development represents a significant step forward in Australia’s build-to-rent sector, offering a new standard of rental living for Melbourne residents.