Located at 23-47 Villiers Street in the heart of the Melbourne Biomedical Precinct, Sentinel plans to deliver and manage approximately 350 high-quality and sustainable rental apartments across two buildings on the site, as part of our Australian Build to Rent venture with Dutch pension fund manager PGGM.

This will be Sentinel's sixth Build to Rent apartment community in Australia and our second in Melbourne, following the delivery of a 172-apartment project, The Briscoe, in West Melbourne, which is scheduled to open later this year. The acquisition of 23-47 Villiers Street grows Sentinel's total pipeline in Australia to more than 1,600 rental units under various stages of development or operation.

The new apartment community will target carbon neutral certification and a 5-Star Green Star rating from the Green Building Council of Australia, in keeping with other developments we have completed to date in Australia. On completion, it will be operated under Sentinel’s Australian property management brand, Kinleaf.

Keith Lucas, Sentinel's Managing Director in Australia said: "This is a meaningful opportunity to deliver a significant boost in housing choice for the area that will support the rapidly growing health and education precinct and more broadly, Melbourne's housing needs.

"We're looking forward to leveraging our experienced and established Build to Rent platform to transform this well-located inner-city site into a vibrant and sustainable community with high-quality rental apartments, a wide range of resident amenities, and a professionally managed rental experience," said Mr Lucas.

23-47 Villiers Street is strategically located in a world-class health, research, technology, education and innovation precinct, which has received A$2.8 billion of investment over the past 10 years and is currently home to around 49,000 employees, according to Victorian Government research. The site is in immediate proximity to Australia’s largest hospital precinct including The Royal Melbourne Hospital, The Royal Women’s Hospital and The Royal Children's Hospital; as well as the Peter MacCallum Cancer Centre, The University of Melbourne, North Melbourne Primary School and Royal Park.

Jikke de Wit, Senior Director Private Real Estate at PGGM said: "We primarily invest on behalf of those who work in the health sector, so we are very pleased that our investment in this project will support the creation of quality and low carbon housing that is well-positioned to benefit other healthcare professionals, whilst generating healthy, long-term returns for our clients."

The site has excellent connectivity to the Melbourne CBD and surrounding suburbs with tram and bus services located less than a five-minute walk away, and the new Parkville Train Station located within 400 metres. The Parkville Train Station will provide convenient access to the CBD, North Melbourne’s Arden Precinct, suburban Melbourne and the proposed Melbourne Airport Rail Link. It is currently under construction with completion expected in 2025.

The announcement received coverage in Australian media:

The Australian
Australian Financial Review
Urban Developer
IPE Real Assets
Development Ready
Australian Property Journal

Read more about our Australian Build to Rent Projects.

The post Sentinel Acquires North Melbourne Site in Australia for 350-Apartment Build to Rent Development appeared first on Sentinel Real Estate Corporation News.

Lord Mayor Sally Capp and Sentinel Managing Director Keith Lucas at the topping out ceremony for the Briscoe. Photo: Kit Haselden Photography

Sentinel has marked the 'topping out' construction milestone at its Build to Rent apartment building, The Briscoe, in West Melbourne. On completion, the project will be Sentinel's third completed Build to Rent community in Australia.

To commemorate the achievement for the project and Melbourne's growing Build to Rent sector, The Lord Mayor of Melbourne, Sally Capp, joined Sentinel's Managing Director in Australia, Keith Lucas, construction partner Crema Constructions and project architects Rothelowman on-site at 164-168 Roden Street for a site tour and topping out ceremony.

Sentinel has established The Briscoe as the name of its new apartment community, paying homage to the site's former status as home to one of Australia's largest Victorian-era hardware firms, Briscoe & Company Limited. The Briscoe will be home to 172 premium and sustainable Build to Rent apartments across seven levels, ranging from one- to three-bedroom layouts. It is scheduled to reach practical completion in March 2023.

Melbourne Lord Mayor Sally Capp welcomed the project and said it will add value to Melbourne's housing landscape.

"I welcome more, quality housing supply in our city, especially when it is combined with community facilities and environmental outcomes," the Lord Mayor said.

"Melbourne is Australia’s most liveable city and it is projects like The Briscoe by Sentinel that continue to strengthen that title."

Artist rendering of The Briscoe, featuring the historic façade of the original building and recreated historic signage. Final finishes may vary.

As pioneered by Sentinel's previous Australian Build to Rent properties, The Briscoe will pursue carbon neutral certification on completion. The building has also been designed to be fossil-fuel-free and target a 5-Star Green Star rating from the Green Building Council of Australia.

The Briscoe will have a broad range of state-of-the-art amenities to provide residents with a sophisticated rental experience. These amenities include a rooftop terrace with sweeping views overlooking the Melbourne CBD skyline, a gym, a residents' lounge and dining area that can be booked for private functions, a business centre and a landscaped, green inner-courtyard at the centre of the building which will act as the uniting feature of the community.

Sentinel's on-site management, leasing and maintenance staff will provide an enhanced rental experience for residents, including a streamlined and personalised leasing process, 24/7 on-site maintenance and an ongoing program of curated resident events to grow and sustain a vibrant rental community.

Keith Lucas, Managing Director of Sentinel in Australia said: "It's fantastic to see The Briscoe, our first Build to Rent development in Victoria, progress another step closer to completion. It will offer residents a refined, highly sustainable and community-focussed lifestyle, creating a sense of place within and adding to West Melbourne’s existing character.

"The Briscoe has been thoughtfully designed outside and in for a renter-oriented living experience. The design draws heavily on the eclectic industrial heritage of the site and art deco influence of the iconic Briscoe and Co signage. The building is also designed to achieve leading sustainability benchmarks including carbon neutral certification, empowering residents to live greener," said Mr. Lucas.

The announcement received positive coverage in Australian media:
Herald Sun
The Fifth Estate
Brisbane Times
The Chronicle

Sentinel currently has more than 1,300 Build to Rent units under various stages of development throughout Australia. Read more about our Australian Build to Rent Projects.

The post Sentinel Reaches Major Milestone on Melbourne Build to Rent Development appeared first on Sentinel Real Estate Corporation News.

Sentinel has progressed construction of its Build to Rent development at 164-168 Roden Street in West Melbourne. The 172-apartment project, designed by renowned Melbourne architects Rothelowman and being delivered by Crema Constructions, has completed foundation works as the new structure rises within the historic heritage façade.

As the Build to Rent sector grows in Australia, this is Sentinel’s first Build to Rent project in Victoria, following the success of its Element 27 property in Perth. Completed in 2019, Element 27 is Australia’s first purpose-built Build to Rent development and Phase 1 is 100 per cent occupied, while Phase 2 has recently begun offering units at a time when Perth is seeing a dramatic shortage in quality housing options.

Construction of Sentinel’s 172-unit Build to Rent redevelopment of the historic Briscoe & Company building on Roden Street in West Melbourne.

The Roden Street construction progress has received positive coverage from Australian media:
https://thepropertytribune.com.au/business-industry/sentinel-makes-progress-on-its-first-victorian-build-to-rent-development/
https://www.australianpropertyjournal.com.au/2022/04/13/sentinel-starts-on-build-to-rent/

Since 2011, Sentinel Real Estate Corporation has been investigating the apartment rental market and laying the foundations for the launch of our Build to Rent model for residential communities in Australia. Learn more about Sentinel's Build to Rent.

The post Sentinel’s Build to Rent Development in Melbourne Progressing with a Positive Reception appeared first on Sentinel Real Estate Corporation News.

Sentinel's President Michael Streicker was recently interviewed for The Australian Financial Review regarding our Australian properties and future development plans.

Australia is currently facing a considerable housing shortage, particularly in the rental market, and Build to Rent shows promise as a potential solution to the problem. The progress of our property in Melbourne that is currently under construction and the success of our properties in Subiaco are of particular interest as renters discover the benefits of the Build to Rent model and Build to Sell developments stall due to a number of disruptions in that sector. As an early mover in the market, Sentinel's success illustrates the potential of Build to Rent as a viable alternative to the fragmented rental market that has existed in the country to date.

Read the full article on The Australian Financial Review here:
https://www.afr.com/property/residential/housing-shortfall-fuels-sentinel-s-2b-build-to-rent-ambition-20220412-p5acvj

Since 2011, Sentinel Real Estate Corporation has been investigating the apartment rental market and laying the foundations for the launch of our Build to Rent model for residential communities in Australia. Learn more about Sentinel's Build to Rent.

The post Sentinel’s Build to Rent Plans in Australia and the Future of Australian Housing appeared first on Sentinel Real Estate Corporation News.

In Melbourne, Anthony Cuzzupi joins Sentinel as Project Director, managing the development of Sentinel’s projects in the Eastern States from inception through approval, construction, and delivery. Previously Cuzzupi managed his own property consultancy practice and served as Project Director for JW Land and Senior Development Manager for Urban Regeneration at Lendlease in Melbourne.

Sentinel’s new Development Manager based in Perth, Owen Altham will be playing a key role in the development of Sentinel’s upcoming Build to Rent tower in Scarborough as well as the delivery of Phases II and III of Sentinel’s flagship Australian Build to Rent project, Element 27, in Subiaco, WA. As a former Project Manager at APP Corporation Pty Ltd, Altham formerly consulted for Sentinel and is uniquely familiar with both the company’s projects and the local Perth market.

Keith Lucas, Managing Director of Sentinel Fund Manager Australia, said: "Anthony and Owen's development management expertise are incredibly valuable to the strength of our Australian pipeline. Their robust experience and knowledge of their local markets are bolstering our team’s ability to deliver premium Build to Rent projects across Australia as demand for the emerging model continues to flourish."

Also helping steer Sentinel’s Australian expansion is Ninghao Ho now based in Sydney. In addition to ten successful years directing the company’s Singapore team, Ho also brings the benefit of his experience in Sentinel’s New York corporate headquarters.

The bolstering of Sentinel’s existing Australia-based team follows Keith Lucas’ promotion to Managing Director and relocation to Australia from New York in 2020.

Sentinel’s current Australian pipeline includes 3 additional sites: Phase 3 at Element 27 in Subiaco, Perth, 164 Roden Street in West Melbourne, Victoria, and 194 West Coast Highway in Scarborough, Perth. The Build to Rent specialist’s flagship property, Element 27, was recently appointed the first carbon-neutral apartment building in Australia under the Climate Active Carbon Neutral Standard for Buildings.

The appointments have received coverage in the news:

https://www.brokernews.com.au/news/breaking-news/sentinel-real-estate-boosts-its-australian-team-with-two-hires-279486.aspx
https://www.australianpropertyjournal.com.au/2022/01/30/sentinel-expand-with-double-appointments/

Learn more about Sentinel's Build to Rent in Australia.

The post Sentinel’s Australian Team Continues Growing appeared first on Sentinel Real Estate Corporation News.