Investa, Oxford 42-Storey Southbank BtR Tower Opens

Investa and Oxford Properties have opened Indi Southbank, marking the completion of their first build-to-rent project in Melbourne. The 434-apartment tower at 132 Kavanagh Street was completed on time and to budget despite the team navigating lockdowns, construction price escalations and industry uncertainty. The project was delivered by developer PDG and builder Hamilton Marino, with architecture by DKO. PDG founder and managing director Vince Giuliano said the achievement reflected the partnership’s execution capability. Oxford Properties head of Australia Alec Harper said the partnership had a “successful track record providing high-quality, professionally managed homes across North America, Europe and Australia”. “Over 800 residents, along with their pets, will now call Indi Southbank home, supported by an onsite resident services team,” Harper said. The 42-level tower is within the City of Melbourne’s Boyd Village Precinct and comprises a mix of studio, one and two-bedroom apartments. About 10 per cent are designated as affordable. Amenities across three levels include a gym, yoga deck, pool, sauna, co-working spaces, sky lounge, private dining and function rooms, and facilities for pets including a dog wash and run area. Delete Investa chief executive Peter Menegazzo said the project helped address Australia’s housing supply challenges. “Build-to-rent is playing a very important role in bolstering supply and offering more diverse housing options,” Menegazzo said. “Indi’s goal is to elevate the rental experience in Australia so that it is built around the individual. Residents aren’t just looking for a place to live—they’re seeking a lifestyle: personalised apartments, hotel-style amenities, and the support of a dedicated onsite resident services team.” Menegazzo said there was strong early market response, particularly from singles, couples, students, downsizers and young families “with close to 100 groups registered for tours before the building opened”. The opening follows the launch of Investa and Oxford’s build-to-rent residence, Indi Sydney, in November 2024. A third build-to-rent asset, Indi Footscray, is due to open in Melbourne’s inner west next year . Oxford has approximately $84 billion of assets under management across four continents and is a “high-conviction investor” in build-to-rent assets globally. “We believe the market fundamentals for build-to-rent in Australia are compelling, underpinned by population growth, acute undersupply, and evolving household and lifestyle needs,” Harper said. “We’re redefining the concept of renting built around you, the individual, delivering an uplifting Australian rental experience.” ▲ PDG delivered the 42-level tower on time and to budget despite lockdowns and construction price surges. Giuliano said Boyd Village had been central to the City of Melbourne’s vision for Southbank for nearly two decades. “The brief was clear: preserve Boyd Village’s heritage and progress its future,” Giuliano said. “We’ve delivered on our brief and created first-class amenities and residences, including affordable homes, adding lasting value to Southbank. We’ve given the community green open spaces at their front door with Boyd Park, which has been embraced by the local community.” Boyd Park, a publicly accessible green space at the tower’s base, includes playground equipment, barbecue and picnic facilities, and community event spaces. The City of Melbourne will own and manage the 900sq m Southbank Library on the upper ground and level one podium of the tower. It is expected to open mid-2026. Meanwhile, development planning has begun for the group’s first studio living venture, at 136-140 Elizabeth Street , Sydney. It is a 17-storey scheme comprising 251 rooms developed in partnership with The Salvation Army. Construction is expected to begin in 2027, and completion is scheduled for late 2029. Investa also holds approval for a $364.7-million commercial redevelopment of North Sydney’s heritage-listed MLC Building at 105-153 Miller Street, with a separate $354-million proposal before the department for its conversion into a university campus.

Investa, Oxford 42-Storey Southbank BtR Tower Opens

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