The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
14
print
Print
OtherTed TabetMon 30 Nov 20

Sentinel Launches Latest Build-to-Rent Tower

23bfc380-97b4-4cb6-8720-510d26022159

Australia’s build-to-rent sector is gaining momentum with US giant Sentinel Real Estate lodging plans for another project at Perth's beachside suburb of Scarborough.

Following its first Perth project, which Sentinel says was the "beta test" of the model in Australia, the developer has submitted a proposal for a 17,200sq m build-to-rent apartment development on the corner of West Coast Highway and Manning Street.

The proposal features a single 21-storey residential tower to sit atop a three-storey commercial podium.

Sentinel, which prefers developments of between 250 and 300 units, has opted for 175 apartments which it will develop, lease and manage itself.

The project will also provide tenants with 230 bike parking bays, 215 car parking spaces and enhanced end of trip facilities.

The proposal also includes an expansion and upgrade of the surrounding public space, as well as a small cafe and bicycle repair station.

Related: Residential Asset Alternatives Ride Wave of Demand

▲ Michael Streicker heads up the New York-based group which manages more than 26,000 rental apartments globally.


The privately-owned New York-based group is one of the largest groups to target the nascent BTR sector in Australia alongside the likes of fellow American developer and operator Greystar and ASX-listed Mirvac.

Sentinel, which has most of its A$10 billion real estate portfolio in build-to-rent properties—or "multifamily'' assets as they are known overseas—currently has upwards of 1,000 build-to-rent apartments under various stages of development in Australia.

Sentinel Real Estate president Michael Streicker said its latest venture in Perth would be backed by five decades of expertise in build to rent development.

“We can see the local housing market and consumer mindset is evolving and there’s an opportunity to diversify housing options.

“Following the success of Element 27 in Subiaco, we know our build to rent model can deliver quality housing for more West Australians,” Streicker said.

Phase one of their three-stage Element 27 project, the first purpose-built institutional build-to-rent development in Australia, has been operational and tenanted since early 2019.

The project’s second stage is currently under construction while the third stage recently received development approval.

Sentinel acquired the three sites in the Australian Fine China precinct of Subiaco in 2015.

“Our latest project at 194 West Coast Highway will add value to Scarborough’s vibrant beachside and provide renters with a secure, engaged and premium community,” Streicker said.

Sentinel is also implementing sustainable practices across the project, targeting a 5 Star Green Star rating through the use of rainwater harvesting for onsite irrigation, deep soil planting zones and enhanced metering strategies to manage water usage.

Sentinel also has a build-to-rent project under way in West Melbourne, after picking up the 164-168 Roden Street site in 2019 for $17 million.

The project is under construction on a 3,600sq m corner site and has a permit for 157 apartments.

ResidentialAustraliaPerthPlanningPlanningProject
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Without the $135.98-million injection it is claimed the Logan City Council would have had to stop approving new housing …
LATEST
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/sentinel-build-to-rent-project-scarborough-perth