NOVUS unveils next Build-To-Rent project in Melbourne’s inner south

Development

NOVUS unveils next Build-To-Rent project in Melbourne’s inner south

Leading Build-to-Rent (BTR) developer, owner and operator, Novus, has today announced the settlement and Planning Amendment Approval of Novus on Bowen, its next landmark BTR development located at 2 Bowen Crescent, Melbourne.

Chelsey Blount / 10 March, 2024

Leading Build-to-Rent (BTR) developer, owner and operator, Novus, has today announced the settlement and Planning Amendment Approval of Novus on Bowen, its next landmark BTR development located at 2 Bowen Crescent, Melbourne.

The site was acquired in an off-market transaction via Walter Occhiuto of Dawkins + Occhiuto for an undisclosed amount. The site was purchased with an existing planning permit in place and has since undergone a redesign by Rothelowman Architects to tailor its use for BTR, with Planning Amendment Approval received from City of Port Phillip Council in February.

Novus on Bowen will comprise 215 purpose-designed BTR apartments spread across 18 levels and include a mix of studio, one-, two-, three- and four-bedroom homes. The development was designed with convenience, health & wellness as priorities, offering future residents a plethora of amenity synonymous with a Novus building, including a full-line gym, indoor pool, wellness area, sauna/steam room and ice plunge. The striking façade seamlessly connects indoor and out, complemented by a ground floor retail offering, while the exclusive rooftop terrace provides uninterrupted views across the Domain and Albert Park.

The building’s environmental credentials will target an average 7-star NatHERS, net zero emissions during operations, be an all-electric building, allow for generation of renewable energy on site, employ green electricity via a building embedded network, and all parking will be future-proofed for EV charging.

Novus CEO Adam Hirst said Novus on Bowen provides an important contribution to Australia’s flourishing BTR sector, providing much needed supply to the apartment market at a time where it has never been more important.

Novus on Bowen marks our second addition to the Melbourne skyline and we are delighted to see this offering come to the market in 2026.

“The site is truly one-of-a-kind, adjacent to the soon to be completed Melbourne Metro Anzac Station, providing direct access to major employment, education and health care precincts, every 4 minutes.

“Our team is thrilled by the prospect of not only delivering another BTR development in Melbourne’s inner-city precinct, but also demonstrates our commitment to the company mission: to create homes for 10,000 people.

“Across the Eastern seaboard there is plenty of activity happening for Novus with several projects in various stages in Paramatta, Chatswood and Melbourne, while our flagship Southbank asset, Novus on Sturt, is set to welcome our first residents later this year.”

Practical completion of Novus on Bowen is expected in mid-2026, with construction set to commence mid this year.

CBRE Debt Advisory Services contributed to the settlement milestone, with a builder announcement expected shortly.

ENDS

For media enquiries please contact Chelsey Blount on 0449 058 608 or cblount@novusaus.com.

 

About Novus.

 

Novus is a developer, owner and operator of Build-to-Rent (Multifamily) assets focused on the Australian market. Through our vertically integrated platform we manage every step of the asset creation process and ongoing operations – a platform designed to ensure the communities we create and manage provide exceptional outcomes for our residents and investors alike.

 

Visit novusaus.com to learn more.

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