Templestowe's Build-to-Rent Projects Offer Tenants Longer Leases, On-Site Amenities

Templestowe Property Group opened its first build-to-rent complex on 14 June at the corner of High Street and Williamson Road, with 142 apartments now available for lease starting at $485 a week for a one-bedroom unit.

Rising purchase prices on the suburb's established homes have pushed more households into renting for longer periods, and developers have responded with projects that lock in lease lengths and include shared spaces. The trend follows similar patterns seen in other cities where land costs climbed faster than wages over the past three years.

Projects target specific streets

The Williamson Road site sits two blocks from the Templestowe Community Centre and one kilometre from the Manningham Library branch on Parker Street. A second scheme by the same group is under construction on Foote Street near the Templestowe Village shopping strip, with completion listed for March 2027. Both locations were chosen because they sit within walking distance of bus routes that connect to the Eastern Freeway.

Tenants at the High Street complex receive a minimum two-year lease, automatic renewal options, and access to a gym, co-working room and secure bicycle storage included in the rent. The developer also covers building insurance and maintenance, items that individual landlords sometimes pass on as extra costs.

Rent and price figures

Domain data released last month showed the median house price in Templestowe reached $1.72 million in May, up 9 per cent from the same month in 2025. Weekly rents for comparable two-bedroom units in the same postcode averaged $620, with vacancy rates at 1.8 per cent. The new build-to-rent apartments sit 15 to 20 per cent below those medians while offering longer security of tenure.

Residents considering a move to one of these complexes can review the full lease terms and amenity list on the Templestowe Property Group website or attend the next information session scheduled at the community centre on 22 July. Checking bond requirements and income thresholds early avoids delays when units are released in batches.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.