Novus and M&G Real Estate have officially opened their flagship Build-to-Rent (BTR) project, Novus on Sturt, in Melbourne’s Arts Precinct in Southbank.
A ceremonial ribbon cutting marked the building’s official opening, led by Novus co-founders Adam Hirst and Jason Goldsworthy and M&G Real Estate’s Head of Australia, Alex Banzic, in front of an audience of key contributors to the project.
Located in the heart of the Cultural Arts precinct of Southbank, Novus on Sturt is a mid-scale BTR offering with a resident first focus. The Rothelowman designed and Hamilton Marino built project comprises 163 residential apartments, commercial studio space and ground floor retail – all underpinned by a focus on sustainability, convenience, wellness and exceptional service.
This development is one of three BTR projects being undertaken by the Novus Build-to-Rent Trust, where M&G Real Estate is the majority owner and Novus is the co-owner, developing and operating partner. The other two projects being Novus on Harris in Parramatta and Novus on Albert in Chatswood.
Novus CEO Adam Hirst said the milestone was a particularly important one as it represented the bringing to life of the Novus Platform and many years of hard work cultivating a unique BTR product and offering.
“Our core mission is to create homes for 10,000 people and this is the first step in us achieving that goal.
“Through our continued partnership with M&G Real Estate we are in the process of delivering a further two projects with a total of over 600 homes across the eastern seaboard with our Parramatta project already under construction.”
Novus CDO Jason Goldsworthy said it was an incredibly proud day for himself and the Novus team.
“Many hands make light work and it’s incredibly rewarding to see our first residents embrace Novus on Sturt.
“We’ve been overwhelmed by leasing interest after such a short time in market, and with several residents now moved in, it’s a real testament to our product offering – especially at a time in Melbourne when BTR stock is prominent in the market.”
M&G Real Estate’s Head of Australia, Alex Banzic, commented on the project’s significance.
‘’We are delighted to see the Novus on Sturt project reach this next phase, representing a key milestone in our collaboration with Novus. This development is a testament to our shared vision of creating high-quality, sustainable living environments that meet the evolving needs of Melbourne’s communities. Seeing the early success and positive reception from new residents speaks to the strength of this offering.
“At M&G Real Estate, we see tremendous potential in the living sector, both globally and here in Australia. Melbourne, with its dynamic urban growth, offers the perfect environment for projects like Novus on Sturt. We are committed to this vibrant region and to Australia and are confident that well-designed, sustainable residential developments will be key in addressing housing demand and providing stable, long-term returns for our investors.”
Leasing of the highly anticipated development is now in full-swing with inspections open 7 days per week. Offering studios, 1, 2 and 3 bedroom apartments with no upfront bond, flexible lease terms, bespoke resort-style amenities and 7 day service. Prospective renters can book an inspection via novusaus.com.
