Sentinel Real Estate has received planning approval for South Australia’s first institutional build-to-rent development in Adelaide’s inner-north.
Sentinel Australia will deliver and manage the premium and sustainable rental offering at Lot 53 on the corner of Third and Gibson streets in Renewal SA’s Bowden precinct.
The approved development, comprising 240 apartments, 12-storeys and a mezzanine, will be purpose-built for renters and offer studio, one-, two- and three- bedroom apartments with a range of layouts available to suit different household preferences.
It will be managed under Sentinel Australia’s dedicated property management platform, Kinleaf, with professional management, leasing and maintenance staff located on-site to assist residents throughout their rental experience.
The apartment community will be pet-friendly and have a curated range of resident amenities on offer including a swimming pool, fitness centre, resident lounge, barbeque facilities and two open green terraces on the podium level.
South Australia’s Minister for Housing and Urban Development Nick Champion said the development will make a welcome contribution to the diversity of Adelaide’s housing stock and play a vital role in enhancing Bowden’s vibrant urban village.
“The build-to-rent asset class is a game changing for South Australia because it challenges the established tenant/landlord relationship giving power back to tenants – critical when rental vacancies at below 1 per cent,” Minister Champion said.
“The Bowden precinct is becoming an increasingly diverse and vibrant provider of housing options for South Australians looking for alternative and flexible housing options.”
The Bowden precinct is the South Australian government’s first higher density urban infill revitalisation project. The precinct, set to home more than 3,000 new residents over the coming years, is 2.5 kilometres from Adelaide’s CBD on 16 hectares of land.
Keith Lucas, Sentinel’s Managing Director in Australia, said the development is designed to offer South Australians greater housing choice and to add to the vibrancy of the walkable and inviting Bowden Urban Village.
“We’re proud to be bringing the innovative housing model to Adelaide,” Mr Lucas said.
The development will target carbon neutral certification, a minimum 5-Star Green Star rating from the Green Building Council of Australia and a minimum 7.5-star average NatHERS rating across the building on completion.
“The ambition is to create a strong sense of place, with architecture and spaces that complement the character of the precinct while also adding new vibrancy to Bowden,” Oliver Mayger, Architectus Principal said.
“We prioritised equitable amenities for residents, maximising apartment access to solar and natural light, reduced overshadowing to enhance views and improved connections to the adjacent park and pedestrian links. Our design scheme is responsive to the precinct’s evolving characteristics through form, scale and materiality.”