Key project partners gathered yesterday to celebrate the topping out of Indi Southbank, the highly anticipated Build to Rent (BTR) residence that is part of the City of Melbourne’s Boyd Village Precinct at 132 Kavanagh Street, Southbank.
The ceremony, held on Level 43 of the soon-to-be-completed Indi Southbank, marked the successful completion of the building’s major structural phase following two years of construction.
Hosted by Melbourne-based developer, PDG, and builder, Hamilton Marino, the event brought together representatives from investment manager Investa, owner Oxford Properties Group (‘Oxford’), and the City of Melbourne, including Lord Mayor, Hon. Nicholas Reece.
Lord Mayor, Nicholas Reece said: “Build to Rent is an important pillar in Melbourne’s diverse and inclusive housing market. The Boyd Village offering delivers superb modern living, in sought-after Southbank. This milestone signals ongoing confidence in Melbourne as the best city to invest, build, and live.”
The Boyd Village precinct, named after the site’s rich history, is a collaborative effort between PDG and the City of Melbourne and will deliver a mix of residential and affordable housing and public amenities to benefit the local community.
PDG’s Founder and Managing Director, Vince Giuliano, said: “Indi Southbank will offer an unparalleled living experience at Boyd Village in the heart of Southbank, blending residential charm with expansive parks, green spaces, and a variety of leisure and co-working areas. These will perfectly complement the existing communal facilities at the heritage-listed Boyd Community Hub, which includes the library, café, and art studios.”
PDG has partnered with Investa on this landmark project, featuring 434 apartments, including at least 40 affordable rental homes. Indi Southbank will form part of Investa’s BTR platform, Indi, which includes ~1,400 apartments across three assets including the recently opened flagship Indi Sydney, and Indi Footscray currently under construction. Oxford will retain ownership of the building, with the exception of part of the ground floor and Level 1, which will house City of Melbourne-managed council facilities.
Indi Southbank will offer residents an exceptional inner-city lifestyle with rental flexibility, premium amenities, and a host of communal spaces. These include several private dining and entertainment rooms, podcast/media rooms, and a cocktail lounge on Level 42, offering breathtaking views of the city skyline. Additional amenities will include a multi-purpose room, co-working spaces with meeting rooms, a fully-equipped gym, a heated outdoor swimming pool and sauna, landscaped outdoor areas with BBQs and seating, a dog run and wash area, and a games room.
Oxford’s Vice President Head of Development Asia Pacific, Ian Lyon, said: “Reaching this milestone is a significant event for Oxford, and we extend our gratitude to our project partners and the dedicated workforce who have made this achievement possible.”
“Oxford is a high conviction investor in BTR globally, and Indi Southbank is one of three BTR assets in Australia. We are excited for our Indi product to set a new standard for the BTR rental experience in Australia.”
Investa’s Chief Operating Officer – Real Estate, Sally Franklin, added: “Investa is thrilled to celebrate this important milestone with PDG, Oxford and the project team.
“Our goal is to transform and elevate the rental experience in Australia. We are committed to setting a new standard for modern living that comes with more freedom, flexibility and peace of mind. Indi Southbank will truly be ‘renting built around you.’”
Indi Southbank will boast leading smart building and sustainability features including meeting the Residential Low Carbon Building Criteria under the Climate Bonds Standard. Indi Southbank has achieved a 7 Star NatHERS Energy rating and is targeting a 5 Star Green Star Buildings rating from the Green Building Council of Australia. It is scheduled for completion in mid-2025, with residents moving in shortly after.
