Co-living investment sets national unit price record
EXCLUSIVE
Another inner-city Sydney co-living investment has sold, this time in Newtown.
Following an off-market campaign, Affordable Habits is banking $21.5 million for 142 Carillon Avenue.
Completed five years ago, trading as a Castle student accommodation complex, near the University of Sydney’s main campus, in Camperdown, it contains 37 rooms.
The sale price values each key at $581,000 – a record for an asset of this type nationally, according to the marketing agents.
“Located in one of Sydney’s most tightly held inner-city precincts, the property exemplifies the growing investor appetite for well-located, purpose-built student accommodation,” Knight Frank’s Adam Droubi and James Masselos added.
The deal comes a week since we reported Daoud Investments sold a Lane Cove North co-living asset, with 27 suites, for $13.7m – c$507,400 per dwelling.
Meanwhile last month, Singapore’s Unitas Premier banked $18m for a Kingsford student accommodation complex, The Barker Residence, with 40 units leased to UNSW.
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