Fireworks welcome Melbourne's newest BTR development

Having gained popularity in the US as a solution to increase housing supply and help to address the nation's housing shortage, Australian cities have increasingly opened their doors to Build-To-Rent (BTR) developments around the country - an initiative where residential properties are purpose-built for rental occupancy.

South Melbourne's sky was lit up last night with fireworks with the launch of The Gladstone - a completed $500 million residential development bringing 700 rental homes to the bustling suburb.

Delivered by US-borne Greystar, The Gladstone is its first BTR Australian development.

“The Gladstone will provide Victorians with 700 homes specifically designed for renters, fulfilling a crucial gap in the current housing market," said Greystar Australia managing director Matt Woodland. 

"As one of the world’s largest operators of Build-To-Rent apartments, we’re excited to bring world-class expertise and an unrivalled living experience.”

The Gladstone boasts three towers and offers a mix of studios alongside one, two and three-bedroom apartments. 

Each building boasts luxury amenities with a state-of-the-art 330m2 gym, pilates studio, an indoor lap pool and outdoor lagoon pool. 

The Gladstone is also home to unique property amenities designed for the modern renter including multiple specialty remote working spaces, wine room, rooftop terraces and bars, an outdoor cinema and a pet spa.

Each Gladstone apartment is equipped with high-quality finishes and appliances including reconstituted stone benchtops, induction cooktops, block-out blinds and built-in wardrobes. Electrolux whitegoods are included in all apartments with keyless entries providing residents with convenient access. 

The Gladstone has ticks the sustainability box, with all apartments and amenities powered by 100 per cent offsite renewable energy. 

Nestled at the heart of Melbourne’s cultural hub, The Gladstone offers easy access to iconic landmarks: South Melbourne Market is located around the corner and Albert Park Lake is just a short stroll away. The CBD is easily accessible by car, train or tram, and quality education options like South Melbourne Primary school are within walking distance.

“Australian renters have been limited in their access to quality, fit-for-purpose homes for too long,” said Matt. 

"The Gladstone’s opening marks Greystar’s first major milestone in changing this reality."

Rental agreements starting from twelve-months to three years are now available.

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