Built-to-rent complex nears completion 

Construction of an 18-storey build-to-rent apartment building in Southbank is on track for completion this year.

The project Novus on Sturt will deliver 163 homes comprising a mix of studios, one-, two- and three-bedroom apartments at 153 Sturt St.

Construction, which is being undertaken by Hamilton Marino, is gathering pace with the project set to achieve a “topping out” phase in April, signifying the completion of building’s structural phase. 

Overall, the project is on track to be completed by the third quarter of 2024. It’s being developed by Novus in partnership with M&G Real Estate on behalf of the M&G Asia Property Fund.

Once complete, the Rothelowman-designed building will have a heated pool and deck, a gym and studio space, pet park and pet wash, an entertaining lounge and private dining room.

There will also be co-working and meeting rooms, a library, and games room, as well as a kitchen garden, barbeque, and outdoor terrace.

Novus CEO Adam Hirst said the project would be its first operational asset, and with registrations of interest “flooding in already, we’re excited to see how the market embraces our offering”.

He said pre-leasing would begin in the middle of the year and coincide with the opening of their on-site display apartments.

We’re excited to be pioneering a new way to live through our superior approach to renting one that we’re confident our residents won’t find anywhere else.

“We’re on a mission to build homes for 10,000 people – empowering residents to experience a lifestyle underpinned by a focus on wellbeing, convenience and exceptional service.”

The build-to-rent model involves a building being constructed by a developer who keeps the building when it’s complete and leases the apartments to renters.

Novus said residents would enjoy “luxury, convenience, wellness and security”.