Lucinda Mander-Jones, Investa’s Senior Development Manager on Pitt Street South, is also a big fan of TODs. She says the 39-storey residential building at Pitt Street South will be a “mid-town city changer”.
Pitt Street South was designed by another celebrated architecture firm, Australia’s Bates Smart Architects, which was recently shortlisted in the 2021 World Architecture Festival awards for a residential building in Melbourne that is among the slimmest residential building globally.
The sculpted building at Pitt Street South echoes the unique qualities of the Midtown precinct. The colour palette reflects the red, pink and terracotta hues of the heritage buildings nearby, and a stepped façade creates a sensitive scale between Edinburgh Castle Hotel and the EuroTower along Bathurst Street. Slated for completion in 2023, Pitt Street South will be the first build to rent development in Sydney’s CBD. “It is extremely exciting to see a new asset class come to life in our city – and to play a key role in creating opportunities for people to rent differently,” Mander-Jones says.
There’s a wellness floor with lap pool, spa and sauna, a full equipped gym and a yoga studio, another floor dedicated to coworking and retail tenancy, and a third space with dedicated social lounge and adjoining roof terrace overlooking Hyde Park on level 35. “All the spaces are designed to be flexible and adaptable so we can respond to the changing demographics and needs of the residents,” Mander-Jones explains. Then there’s flexibility and security of tenure, onsite concierge, security and maintenance teams, pet-friendly policies and the ability for people to “just click and move in”.
The building will appeal to a wide range of tenants from those wanting amenity on their doorstep to those who care less about homeownership and more about on-demand services to downsizers looking for stability and security.
The building is designed to achieve a 5 Star Green Star rating and high BASIX water and energy ratings, appealing to tenants who value sustainable features.
Pitt Street South’s 234 residential apartments will be held for long-term rental, rather than sold to individual owners. This model, known as build to rent or BtR for short, creates a self-contained neighbourhood, “with an extensive amenity offering and a sense of community. It’s a true lifestyle product,” Mander-Jones adds.
“We are creating a self-contained neighbourhood, with an extensive amenity offering and a sense of community. It’s a true lifestyle product.” Lucinda Mander-Jones, Senior Development Manager, Investa