Amalgamated Property hits 80% lease-up at Oaks Canopy BTR

Oaks Canopy is Canberra’s first owned and operated Build to Rent development. The successful lease-up reflects the popularity and demand for homes at the scheme.

Amalgamated Property Group and Base Developments has let 80% of its Oaks Canopy Build to Rent development in Canberra. The scheme opened last September.

Constructed by Milin Builders, Oaks Canopy comprises 150 studio, one and two-bedroom apartments.

Amenities and facilities include hotel-like concierge services, gym access, an exclusive business centre, recreational spaces, an in-house cafe, children’s outdoor play area, and entertaining spaces such as a sports lounge and garden pavilion.

Designed to give tenants more choice, Oaks Canopy also offers customised inclusions and leasing packages, such as furnished homes, which makes moving less stressful.

A popular choice for residents who have moved to Canberra for work, the city has seen demand for at least 20% of all homes to be furnished apartments.

In response to this, more custom-built packages have been ordered, with numerous one- and two-bedroom furnished homes reaching the market.

“As a long-term renter, this is the first time I’ve had a true sense of community amongst the residents and I feel like I actually have a say as a tenant. The different initiatives that the Oaks Canopy team have rolled out and their willingness to accommodate our needs and wishes is beyond anything I’ve ever experienced before.
“One of the main highlights for me are the garden beds and community spaces which the Oaks management team encourage us to utilise and contribute to. This has led to the creation of a gardening group which meets regularly to socialise and look after the gardens, which means we can now grow our own herbs, fruit and veggies.
“Living in a place where there’s the opportunity to make friendships and get to know your neighbours has created a beautiful sense of belonging. For me, the entire building feels like home, the areas outside of your unit are an extension of your private space where I feel comfortable and safe.”

Sarah, Resident, Oaks Canopy

In addition, the rate of retention has been ‘overwhelming’ with General Manager of Oaks Canopy, Pete Dent reporting that 70% of residents who were on an initial short-term lease have resigned a lease of 12 months or more after experiencing the lifestyle benefits at Oaks Canopy.

“Giving tenants more choice, a quality home and a stronger sense of security are just some of the unique benefits of our elevated rental model. We want our residents to stay long-term, and pleasingly, once they realise the incredible benefits of Oaks Canopy, they don’t want to leave.
“We’re also finding that people are researching the rental market and are coming back to reconsider Oaks because the quality, standard and service is by far the best on offer in Canberra. We’re seeing many of our residents referring Oaks to their friends and colleagues which is rewarding.
“Residents are also taking advantage of the amazing onsite amenities and using their Oaks Resident’s app to access them which is great to see. There has been a constant flow of bookings for the garden pavilion, lounge and the business centre’s meeting rooms, which in turn, is creating a vibrant community within the building.”

Pete Dent, General Manager, Oaks Canopy