Oxford Properties Group (Oxford) and Investa today officially opened Indi Southbank, marking the completion of their first Build to Rent (BTR) residence in Melbourne and reinforcing the city’s status as the fastest-growing BTR market in Australia.
Located within the City of Melbourne’s Boyd Village Precinct at 132 Kavanagh Street, Southbank, Indi Southbank is a vibrant residential community set to welcome ~800 residents. The building has 434 studio, one- and two-bedroom apartments (including approximately 10% affordable apartments), offering residents premium amenities and vibrant communal spaces.
At the base of the tower lies the new Boyd Park, a publicly accessible green space featuring a playground, barbecue and picnic facilities, as well as community and event spaces, all designed to be enjoyed by Southbank residents.
The ribbon-cutting event was attended by Mr Josh Burns MP, Special Envoy for Social Housing and Homelessness and Federal Member for Macnamara and Lord Mayor of Melbourne, Nick Reece, alongside key project partners from investment manager Investa, owner Oxford, developer PDG, builder Hamilton Marino and architect DKO.
Mr Josh Burns MP, Lord Mayor Nick Reece, Peter Menegazzo, CEO at Investa, Alec Harper, Head of Australia at Oxford, and Vince Giuliano, Founder and Managing Director at PDG, spoke at the ceremony to commemorate the milestone and highlight the significance for Melbourne’s BTR market.
Indi Southbank’s amenities span across three levels and include a gym, yoga deck, pool, sauna, co-working spaces, sky lounge, private dining and function rooms, and a dog wash and pet run area. City of Melbourne Council will own and manage the new 900-square-metre Southbank Library located on the Upper Ground and Level 1 Podium, which is anticipated to open mid-2026.
The opening of Indi Southbank follows the successful launch of Investa and Oxford’s flagship BTR residence, Indi Sydney, which has recorded strong leasing uptake in the Sydney market since opening its doors in November 2024.
Every Indi asset is purpose-built to reflect its local community. With more than 90 per cent of Southbank residents comprising urban professionals[1], Indi Southbank has tailored its apartments and amenities to suit those wanting to take advantage of the vibrant Southbank precinct and surrounding attractions, such as the Royal Botanic Gardens, Sidney Myer Music Bowl, National Gallery of Victoria, Flinders Lane eateries and Bourke Street shopping precinct.
Peter Menegazzo, CEO at Investa said: “We’re thrilled to officially open Indi Southbank today. Indi’s goal is to elevate the rental experience in Australia so that it is built around the individual. Residents aren’t just looking for a place to live – they’re seeking a lifestyle: personalised apartments, hotel-style amenities, and the support of a dedicated on-site resident services team. Indi delivers all of that, and more.”
Alec Harper, Head of Australia at Oxford said: “We’re pleased to celebrate yet another milestone for our Indi BTR platform, which comprises one of Australia’s largest professionally managed portfolios. As a high conviction investor in BTR globally, Indi Southbank delivers high-quality rental housing at scale, in direct proximity to where people work, learn and play – aligning brilliantly with Oxford’s strategy across the globe.”
Lord Mayor Nick Reece said: “The City of Melbourne is growing at a rapid pace. We need more homes and a better mix of housing types in the right locations – this new Oxford and Investa project delivers just that. Melbourne is the capital of BTR development in Australia and Indi Southbank is going to be a great addition to this portfolio, unlocking 434 new apartments to meet the demands of our growing population.
“Southbank is our most densely populated suburb and a key urban precinct for Melbourne, with great access to public transport, close proximity to the city's arts precinct and the Royal Botanical Gardens, and a vibrant international dining scene. And with Boyd Park at the base of the tower and the new Southbank Library set to open downstairs in mid-2026, there truly is no better place to live, work and study.”
Investa’s BTR platform, Indi, now operates two completed towers in Southbank and Sydney, with a third, Indi Footscray, under construction. Development planning is underway for the company’s first Studio Living venture at 140 Elizabeth Street, Sydney – making the company’s Living Sector portfolio ~1,600 purpose-built homes.
1BTR Customer & Location Intelligence, Propella.ai, February 2022.
