Salta moves into Build-to-Rent sector, with first project topping out

One of Australia’s largest integrated private property groups Salta has announced its move into the Build to Rent (BTR) sector, with its first project in Fitzroy North reaching a major construction milestone.

With a pipeline of over 4,000 apartments, Salta’s new BTR platform Est. will also deliver premium rentals in Docklands and Richmond alongside its maiden project at 249 Queens Parade in Fitzroy North, which has already ‘topped out’ and is on track to welcome its first residents from July.

To be known as Fitzroy & Co., the building will include 94 one, two and three bedroom apartments, and feature over 1,000 sqm of dedicated lifestyle amenity and shared communal spaces, along with a raft of exclusive resident services, programs and events.

Salta Managing Director Sam Tarascio said future Est. projects would follow suit, with a strong focus on lifestyle, social connection and tailored amenity to cater to the growing demand for high quality long-term rentals.

Salta’s $3 billion move into the BTR sector will bring our total pipeline of residential, office, industrial and retail development to over $6 billion, building on the $3.5 billion of assets already under management.

Sam Tarascio, Managing Director

The BTR 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,” Mr Tarascio said.

“Our plan from the outset is to elevate the Est. brand by offering a unique living experience which has been informed by deep customer insights from years of market research and planning.

“We’re seeing considerable demand for high quality but attainable apartment living options that combine the security of a home with the freedom, flexibility and low maintenance lifestyle of a rental.”

Key features at Fitzroy & Co. include a rooftop terrace and open-air pet park, a residents’ lounge, concierge service, Est. experience app, fully equipped gymnasium, chef’s kitchen and entertaining area, flexible workspaces, and a music lounge with a collection of vinyl records. A large public art commission will also grace the exterior of the building which the wider community can appreciate and connect with.

Salta’s Head of Build to Rent Operations Josh Carney, who has more than a decade of experience in the established United States’ BTR market, said Fitzroy and Co. would offer a superior resident experience by fostering a strong sense of connection and community, combined with high quality apartments that are located where people want to live. “Renting is often viewed as a transient arrangement, but the design of our apartments and curation of services aims to break that perception to create a ‘neighbourhood’ of long-term residents,” Mr Carney said.

"Est. will play a proactive role by hosting an ongoing program of activities, such as health and wellness classes and rooftop cheese and wine nights - and provide an annual contribution to a residents’ social committee to invest in events of their choosing. A loyalty program will also recognise and reward residents for choosing to stay and renew with Est. It’s another example of how we deliver a personalised service and experience to provide more value to residents.”

Salta is engaging local businesses for partnership opportunities to provide residents with convenient access to a wide range of external services, with everything from pet walking, gardening and beauty through to IT maintenance, childcare support and holistic health services on demand.

This convenience carries through to the apartments, with residents benefitting from appliance packages as standard, and the option to include curated furniture collections and customise their apartment interiors and finishes to suite their taste.

“It’s these details like residential hospitality, convenience and careful attention to design that will set the Est. living experience apart” Mr Carney said.

For more information about Est. visit www.estrentals.com.au