Properties

Minor Hotels and Argentum Group announces its first Build-to-Rent venture

Pioneering Minor Hotels’ foray into the Build to Rent (BTR) market, the hotel group has announced its first

Minor Hotels
Image by Minor Hotels

BTR venture with the community-focused development, Citiscape by MINT Residential, in Rockdale, Sydney. This is also a first for Argentum Group, with several other projects under review focusing on BTR, affordable housing, and build-to-lease residential.

Minor’s full-service property arm, MINT Residential, will provide property management for the almost $20 million Rockdale development which offers purpose-built high-quality studio apartments with world-class communal facilities as an attractive alternative to the traditional apartment rental agreement.

Citiscape by MINT Residential is positioned at the pinnacle of convenience, comfort, and contemporary living in the heart of Rockdale with a collection of furnished studio apartments, offering residents an opportunity to experience a lifestyle like no other, where every detail has been meticulously curated to offering the ultimate living experience.

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Argentum Group Managing Director, Nelson Silva “We are excited to be partnering with Minor Hotels and their Mint Residential team on this first asset. With over 20 years of experience in delivering quality projects, it was important for us that with our first internally owned project we partner with an experienced operator. It’s increasingly difficult to deliver quality products in such superb locations in today’s market, but through careful site selection, meticulous planning, and a strong relationship with the local council, we were able to make this project work.”

Offering greater flexibility and peace of mind, with all apartments 100% owned by Argentum Group, rather than individual investors, the tenure-secure model offers tenants a choice of secure short or long-term leases starting from three months and ranging up to 3+ years, from $600 per week. Apartment designs include power-saving measures for energy-efficient living, and, for added convenience, studio apartments are available either fully furnished as an instant walk-in home, or unfurnished, with utility packages available to streamline budgeting for tenants.

“Given our extensive experience in the management of over 60 hotels across Australia and New Zealand, and the current strong demand for quality rental housing within Australia, we believe entering the BTR space is the right move,” said Craig Hooley, Chief Operating Officer for Minor Hotels Australia, and New Zealand.

“Australia is observing a growing trend in the BTR model in response to the shortfall of quality housing supply and growing increases in rent. Driven by lifestyle and affordability reasons, there has been an increasing shift towards rental accommodation, with the traditional ‘Australian mindset’ of renting being merely a stepping stone to homeownership, changing.”

“We anticipate that Citiscape by MINT Residential will be the first of a wider portfolio of BTR property assets managed by Minor Hotels; an area in which we have expertise and a desire to grow,” said Hooley.

Another key drawcard for Citiscape by MINT Residential and the main point of difference with a traditional rental is the inviting and quality common spaces, designed to promote neighbourly connection.

Citiscape by MINT Residential will offer a welcoming lobby creating a community focal point for residents and their guests, a stylish open-air rooftop and entertainment area commanding dramatic city skyline and coastline views, as well as a residents’ community room providing an inviting haven in which to work, study or collaborate. Regular in-house activities and initiatives will be facilitated by the onsite management, allowing for opportunities to bring people together.

“More than simply apartment buildings, Citiscape by MINT Residential will offer a true sense of community where residents will make strong connections with their neighbours,” explained Hooley.

“In a period where the Australian Institute of Health and Welfare has reported an increasing number of Australians experiencing feelings of loneliness, this new Rockdale property has community at its core and is a place where all can feel welcome and create meaningful friendships,” he added.

Located only 50m from Rockdale Train Station with a 20-minute commute to both Sydney CBD and Sydney’s Domestic and International Airports by train and the calm bays of Sydney’s south-eastern beaches only minutes away, Citiscape by MINT Residential is ideally located for those after a vibrant community base within proximity to the city.

Tags: Argentum Group, Build-to-Rent venture, Minor Hotels

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