Salta has made its build-to-rent debut with its platform, Est, opening its first project—in Melbourne’s Fitzroy North.
The 14-storey Fitzroy & Co project at 249 Queens Parade, 4.6km north of the CBD, comprises 94 one, two and three-bedroom apartments, and more than 1000sq m of lifestyle amenity and shared communal spaces.
Fitzroy & Co also includes a co-working space, yoga studio, private cinema room, rooftop terrace and open-air pet park, residents’ lounge, concierge service, gymnasium, chef’s kitchen and entertaining area, flexible workspaces, and a music lounge with a record collection.
Residents will also have access to the Est experience app.
The building has three basement levels for storage and parking.
Est will provide ongoing activities including health and wellness classes, cheese and wine nights, as well as an annual contribution to a social committee of residents to invest in events of its choosing.
There is also be a loyalty program to reward residents who stay and renew leases.
Salta plans to engage neighbourhood businesses to provide external services such as pet walking, gardening, beauty, IT support, childcare support and holistic health services on demand.
The developer’s $3-billion move into the sector was a natural, according to Salta managing director Sam Tarascio.
“The build-to-rent sector is a natural extension of Salta’s business model that complements our existing portfolio and operational expertise, and allows us to invest in a category of living that we believe has a strong growth trajectory,” Tarascio said.
The integrated private property group said it had more than 4000 apartments in its build-to-rent pipeline under Est. Projects were planned for Richmond and Docklands.
Salta now has a total pipeline of residential, office, industrial and retail development of more than $6 billion.
It has also partnered with Vicinity in undertaking a transformation of a key shopping centre at Richmond.
