Move-in at the forefront of Build to Rent (BTR) with standout FF&E
5 July 2024Build to Rent (BTR) is a booming residential sector, and for all the noise, the industry has barely started. In FY22 when the first BTR buildings were being delivered, the sector represented less than 10% of Australia’s preeminent FF&E (Furniture, Fittings & Equipment) provider, Move-in’s, portfolio.
Now, it represents two thirds of Move-in’s current project workflow with an accelerating pipeline. This is representative of the current zeitgeist, and an insatiable appetite for well-designed and considered BTR.
According to Franklin St, an Australian advisory body for the BTR market, there are currently 31 projects under construction (11,582 apartments). They estimate the market will nearly double in operating scale and by the end of the year. How developers approach design, and a point of difference makes all the difference. The better the FF&E, the better the project.
In the dynamic realm of real estate and property development, the work of FF&E studios like Move-in have long been undervalued for their role in completing and personifying the spaces we work, live, and play in. As Move-in founder, Zahava Elenberg, says ‘FF&E is the project’s personality, it is what breathes life into a space and leaves a lasting impression’. And to just to be clear she continues, ‘FF&E is all the stuff that goes into a building – all the stuff that would fall out if you turned it upside down and shook it’.
Move-in offer a full Turn-Key service – which includes everything from design to delivery. They take a holistic view with each project, offering full design services, manufacturing, and procurement as well as a unique approach to place making with their outfitting and styling services.
Enter Move-in’s new Super-Graphic Collection, a brave new range of commercial textiles designed in collaboration with fashion icon, Lisa Gorman, to be manufactured by Warwick Fabrics exclusively for Move-in. Inspired by the distinctive colours and designs of the 1980s, the Super Graphic Collection will be available through Move-in from June 2024 for commercial projects.
What’s changed?
There has been a shift in the number of fully furnished apartments being offered within BTR projects in line with the UK and USA. Initially, BTR projects focused on furnishing the common areas only, with tenants furnishing apartments themselves. However, developers are now offering furnished apartments for up to 90% of a project, with 20% – 50% being the current average in Australia. Not fully furnished in the traditional sense, with everything including the kitchen sink, BTR furnished apartments tend to include the essential and larger items only, with residents brining their own smaller and more personal things.
Edward Quinn from Franklin St comments, “When BTR launched in Australia, there was a marginal allocation of furnished units. We have seen this steadily increase as the product matures. When I was working in the UK market, we were looking at anywhere between 15-30% of units to be furnished, dependent on location.”
Gone are the days of cynical gestures towards amenity and design. People are much more design literate, and the landscape is getting more competitive with BTR projects becoming more sophisticated. From concierge services, pet spas, wellness centres and a hive of communal spaces – BTR is all the rage and increasingly desirable.
Quinn adds, “There is a clear shift in the younger generations towards a more subscription led lifestyle and the thought of having to buy second-hand or Ikea furniture for an apartment they may only live in for a few years, isn’t always appealing. The ease and optionality to rent a furnished unit, allows them to turn up with just their suitcase and no fuss.”
Redefining the language of communal spaces, Move-in’s work at Home Richmond has been considered the new benchmark for BTR. The considered social amenity and care taken around the resident experiences has been integral to the project’s success, and the FF&E has played a large part in that. Having a point of difference and an inclusive well-designed project, can mean quicker occupancy and therefore revenue, and a better ROI in a shorter timeframe for the BTR operator.
Move-in understand the balancing act between commercial viability and design. Having championed the landscape for over 22 years, they have finely tuned the FF&E process.