Victoria’s build-to-rent sector has received a boost with the unveiling of WeAreLiving Preston, a 292-home development set to accommodate more than 500 residents in Melbourne’s inner north.
Located on the corner of Plenty Street and High Street, the project introduces a mix of 285 apartments and seven townhouses, offering studio through to three-bedroom options.
The development responds to growing demand for diverse housing supply, particularly in well-connected urban areas.
WeAreLiving Preston forms part of a broader national pipeline of more than 2,000 build-to-rent homes being delivered across New South Wales, Queensland, the ACT and Victoria under the WeAreLiving brand.
Designed by Rothelowman and constructed by Kapitol, the Preston development places a strong emphasis on lifestyle and sustainability.
Residents will have access to a 24-hour gym, sauna, steam room, cold plunge, rooftop terrace with barbecues, co-working facilities, and dedicated spaces for pets, including a dog wash and run.
The property also includes 269 car spaces, with provisions for electric vehicles.
The building achieves a 7-star NatHERS rating and operates as an all-electric development, supported by an embedded energy network and double-glazed windows throughout.
These features are aimed at improving energy efficiency and reducing long-term utility costs for residents.
All homes include essential appliances such as a fridge and washer-dryer, along with private outdoor spaces in the form of balconies or terraces.
The project has also benefited from the Victorian government’s 50 per cent land tax concession for new build-to-rent developments, a policy designed to stimulate housing supply and encourage institutional investment in the sector.
The state continues to position itself as a national leader in build-to-rent, with thousands of apartments delivered in recent years and more in the pipeline.
The model allows for long-term investment in professionally managed rental housing, delivering stable returns for investors while increasing the availability of high-quality rental options.
