Commission Greenlights Novus $290m Sydney BtR

A $290-million build-to-rent tower on Sydney’s Lower North Shore has been waved ahead under state fast-track planning powers despite council objections.

The 27-storey state significant Chatswood project—Novus on Albert—was referred to the Independent Planning Commission (IPC) on June 2 and approved 45 days later.

Build-to-rent operator Novus, backed by M&G Real Estate, will deliver 198 long-term rentals in a Rothelowman-designed scheme at 763-769 Pacific Highway, offering a mix of studios, one, two and three-bedroom apartments.

It will include a pool, cold plunge, sauna, co-working spaces, rooftop lounge, outdoor terrace and ground-floor retail, and has an emphasis on wellbeing, privacy and solar access.

The Willoughby City Council had objected to aspects of the building envelope, waste servicing and the proposed heritage interpretation of the Old Fire Station at 767 Pacific Highway.

The commission ultimately supported the project, finding the site appropriate for high-density housing and backing the proposal’s strategic alignment.

“The project will contribute to the NSW Government’s housing target of 377,000 well-located homes over the next five years while also providing additional employment floor space within the Chatswood Central Business District,” Commissioners Bronwyn Evans and Michael Wright said in their Statement of Reasons.

▲ Rothelowman renderings of Novus on Albert at Chatswood.

Novus co-founder Jason Goldsworthy described the fast-track process as “thorough”, and said it enabled collaboration work with all levels of government to reach “a positive outcome for Sydney’s Lower North Shore”.

He said retention of the Old Fire Station was not possible as the structure sits within land reserved for road widening.

Instead, the project adopts a reinterpretation strategy using salvaged materials, signage and facade references—a solution supported by Heritage NSW and accepted by the commission.

No changes were made to the planned tower’s height, massing or setbacks, with the commission deeming it appropriate for a high-density CBD fringe location.

▲ The former Chatswood Fire Station at 767 Pacific Highway.

Waste and vehicle access remains via Albert Lane. Turning provisions have been confirmed for small service trucks.

The project targets a 5 Star Green Star rating and average 7 Star NatHERS performance, with solar generation, EV readiness and passive design measures to reduce reliance on mechanical cooling.

Construction is expected to begin early next year.

Novus on Albert is one of three projects under the Novus Build-to-Rent Trust, in which M&G Real Estate holds a 95 per cent stake.

▲ The tower will rise 27 storeys on the site at 763-769 Pacific Highway.

Other towers include Novus on Sturt in Melbourne and Novus on Harris in Parramatta.

A second Chatswood proposal—Novus on Victoria—is also progressing. The 46-storey tower at 410–416 Victoria Avenue would deliver 260 apartments and recently completed public exhibition.