The ‘build-to-rent’ model is gaining momentum in the ACT, giving tenants the chance to secure a brand new luxury apartment close to the city centre.
At 35 Lonsdale Street Braddon, Canvest has developed the boutique ‘And Apartments’ complex. In line with the build-to-rent concept, instead of selling the one, two and three-bedroom homes, 35 are now available to lease.
Stavro Dascarolis from Canvest says the building’s design, construction and fitout had to be the best quality to ensure minimal breakdowns and repairs.
“We are offering the property as owner designed for low maintenance and high efficiency to be attractive to long term tenants, as opposed to many owners, some of whom may not be concerned with all upkeep or maintenance,” Mr Dascarolis said.
Verv Property is managing the apartments, and director Natalie Shawcross says the build-to-rent concept has been welcomed by tenants seeking a brand new home close to the city.
“We’ve had a lot of interest from prospective tenants looking to rent in a new complex in such an enviable position right across the road from Haig Park,” Ms Shawcross said.
“This is definitely something pretty unique and special to Canberra. This is a rare opportunity to be able to rent something and enjoy the luxuries of what a new building affords.”
She said the developers have taken the time to get the architecture right and the inclusions just right to suit “high-end tenants”.
“This is a premium development that would ideally suit sophisticated couples or professionals,” Ms Shawcross said.
Architecturally designed, with a striking golden façade, the stylish apartments feature spacious open-plan living, contemporary kitchens with induction stovetop, pyrolytic oven and dishwasher, plus a wealth of storage.
The apartments boast lift access, ducted heating and cooling, ensuites, built-in robes and stunning timber flooring, with many offering balconies with commanding views over the park.
Ms Shawcross says the ground floor will accommodate the new Verv Property office as well as retail space.
A trendy café-by-day and bar-by-night concept is also in the pipeline.
“We’re being very particular about securing the right commercial tenants to suit the residents,” she added.
About half of the apartments have already been snapped up by tenants, but there is still a selection of one and two-bedroom apartments, as well as three well-appointed penthouses available.
An additional 16 furnished, short-stay studio apartments will be offered for short-term lease on level one.
Verv property manager Charlie Evans says the And Apartments complex is the gateway to “thriving inner-city living”, just a five-minute walk to the Canberra Centre and CBD with its abundance of restaurants, bars, Braddon nightlife, shops and fabulous facilities.
The ACT Government is encouraging build-to-rent developments, where an entire building has one owner, as a way to boost the amount of secure rental accommodation in the Territory and ease its tight vacancy rates.
Build-to-rent can also offer more amenities and services and certainty for both the owner and tenant.
For more information or to arrange an inspection, contact Charlie Evans at Verv Property on 0481 233 880.