Meriton making major build-to-rent release
AUSTRALIA’S biggest apartment developer, Meriton, is set to release more than 200 high-end brand new apartments into the Mascot rental market in response to unrelenting demand from tenants who want to call the suburb home.
The 237 ‘lifestyle’ apartments are spread across three six-level buildings in Meriton’s nearly-completed Signia development at 200 Coward St, boasting grand outlooks, with district views to the east, parkland views to the south, and Sydney CBD views to the north.
Signia includes two buildings which house the just-opened 179-suite Meriton Suites Sydney Airport hotel.
The Signia rental apartments will contribute to Meriton this year lifting the number of apartments in its build-to-rent pool past the 3500 mark.
Victor Toscano, Meriton’s head of residential leasing, says Mascot has become a rental hotspot, thanks to its proximity to the Sydney CBD and easy access to Sydney Airport.
He says the Signia apartments are the latest to be completed in a self-funded build-to-rent program that Meriton has been running for more than 20 years.
“The apartments include the very best design features and finishes and are very much right up there with apartments we are marketing to owner-occupiers and investors across Sydney.”
Signia will also offer some of the largest apartments in the area with sizes of 50sqm-72sqm internally for a one-bedroom apartment, 73sqm-98sqm internally for a two-bedroom apartment and 92sqm-119sqm internally for a three-bedroom apartment. External space ranges from 8sqm up to 74sqm.
Signia, in which the final building will be completed in July, includes landscaped gardens, an 80-place childcare centre, more than 1000sqm of retail space, and tenant parking for 223 cars.
Meriton owner Harry Triguboff, who founded Meriton 54 years ago, long has been an ardent fan of Mascot and has become the dominant developer in the suburb.
His Mascot Central four-tower project completed in 2016, gave the suburb a new heart, in the form of an alfresco-style retail precinct with a full-scale Woolworths supermarket and 16 specialty and food retailers, including cafes and restaurants.
The latest Meriton projects at Mascot include Kiara and Spectrum, plus the group’s debut Platinum Collection building, VIDA.
In July Mr Triguboff’s grandson, Ariel Hendler, will release Escada, a 12-level building with 104 apartments.
Meriton has retained hundreds of apartments in the suburb, adding them to its build-to-rent portfolio.
Mr Toscano says Meriton’s Mascot projects offer residents great lifestyles by virtue of their landscaped parks, barbecue areas, pools, saunas and gymnasiums.
“Those things are part and parcel of our Signia development.
“They are important to people today, especially to those who want to relax, entertain or workout without having to get in a car and travel.”
Mr Toscano said Meriton, despite its major Mascot rental portfolio, was struggling to meet tenant demand.
“The arrival of the Signia apartments will be like a breath of fresh air to our rental management team.”
Mr Toscano said Signia rents would start at $570 for a one-bedroom apartment without parking and for a three-bedroom unit with two car spaces prices start at $1000 .
Signia spans a 1.715ha site bought for $47 million in 2013.