Canberra is set to welcome its first purpose-built, build-to-rent (BTR) tower this September with construction of the highly anticipated Oaks Canopy residences, from industry leaders Amalgamated Property Group and Base Developments, nearing completion.
With a 1 August 2024 live date for listings and demand expected to be exceptionally strong, Amalgamated Property Group is gearing up for a busy 6 weeks of showings and approvals, with 12-month lease agreements the minimum.
Given Oaks Canopy represents Canberra’s first owned and operated Build To Rent residence, there is expected to be high demand from prospective tenants wanting a quality home and trusted operator.
Amalgamated Property Group’s biggest point of difference in the BTR space is that the tenant/landlord relationship starts from a strong point from the beginning, as it is direct and not through intermediaries. Additionally, the property is dedicated to long-term rental accommodation and thus there is far less risk that tenants would be evicted for the landlord to sell. Other clear benefits of Amalgamated’s model include clever design and discounted utilities management.
Purpose built for tenants, Oaks Canopy features 156 studio, one and two-bedroom apartments across 14-storeys, which are designed to deliver a premium service, style and amenity focused rental experience that includes everything from hotel-like concierge services, gym access and an exclusive business centre to recreational spaces that foster a sense of community. As part of the complex, residents can also enjoy the convenience of an in-house cafe, children’s outdoor play area, and entertaining spaces including a sports lounge and garden pavilion.
Sustainability has been addressed with waste strategies, communal gardens and re-use initiatives, while all electric systems have been installed in place of gas.
Changing the concept of renting, Oaks Canopy is designed for tenants looking for a more bespoke rental experience and one that gives them more choice. With the priorities of the tenant in mind, as part of Oaks Canopy, Amalgamated is offering customised options such as furniture packages, optional additional car parking and storage so tenants only pay for what they need.
Giving tenants more choice coupled with a quality home and a stronger sense of security in their living situation are some of the unique benefits of Amalgamated’s BTR model, and the Group plans on expanding in this field.
As long-term owners of the development, Amalgamated has not underestimated the importance of delivering both a high-quality product and resident services as their unique point of difference in the Capital’s rental market. The Group has done extensive research in Australia and abroad (where the model is hugely successful) and applied the key learnings to their management model planning.
Daniel Potts, Development Manager for Amalgamated, said “The rental market in Australia has been demanding a drastic overhaul to address shortages in supply, the quality of rental accommodation and to better meet the needs of people.
“Oaks Canopy will be a quality rental offering that matches what we’re already doing with our apartment developments and commercial precincts. We’re proud to be creating rental residences that are customisable and more of a reflection of people’s wants and needs.
“The rental residences we are building are not only intuitive in design, but centred upon a quality of service. Rental communities should be a hive of activity and serve many different functions. We also want to remove the stigma around renting and prove that rental communities can be a positive place for all different types of people at different stages in their life.
“Ultimately, we want the users of our spaces to build long-term connections with our products; whether this is their first rental property, in our working environments or when they buy within our apartment communities,” he said.
Amalgamated has a strong commitment to ensuring positive tenant and landlord relationships and will maintain management of Oaks Canopy as the landlord, the property manager and the maintenance manager – this is a core point of difference, as they have structured their own operational company to enable professional management and future growth. The team will leverage the experience of their facilities arm, Amalgamated Facilities Group, to deliver prompt and effective maintenance services. And while this is Amalgamated’s first foray into the rental arena, the Group plans to expand this product offering across the ACT and in other locations around Australia.
For more information on Amalgamated property Group, visit https://amalgamatedpropertygroup.com.au/
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About Amalgamated Property Group
With a proven track record in large premium projects, Amalgamated Property Group has been developing residential and commercial property across Australia since 2002. With a commitment to sustainability and community engagement, Amalgamated Property Group has been busy paving the way in changing ACT’s property landscape over the last 20 years.
Locally, Amalgamated has been responsible for premium developments such as The Griffin which was completed in late 2022 and are the first homes within the prestigious Parliamentary Triangle – a huge achievement in the most prominent landscape of Australia’s Capital. The Group are gearing up to release a landmark residential and commercial precinct, ANZAC Park East, a heritage site sitting on ANZAC Parade and overlooking Lake Burley Griffin. They are also proudly behind other landmark and award-winning projects in the ACT including Ivy (next door to Oaks), Kiara in Narrabundah and also the leading workplace precinct, Civic Quarter 1 and 2 in the City, all of which won their categories in the Master Builders awards. Oaks Canopy will join the precinct community already established with Oaks Crown and Oaks Arbour. Interstate, Amalgamated returned to the Gold Coast in 2022 with Amaya Broadbeach currently under construction, just 300m from the shores of Broadbeach.