UNSW sells student accommodation complex
The University of New South Wales has sold a student accommodation complex and childcare centre opposite its Kensington campus.
The 1639 square metre site, 52-56 Barker Street, Kingsford, was marketed for its development upside.
The sale price was $10.11 million.
Eighteen bidders competed at an online auction yesterday.
The sale method was converted from an expressions of interest given the interest, Colliers’ Trent Gallagher, Michael Crombie and Angus Urquhart said.
52-56 Barker Street, Kingsford
UNSW operates part of the property as Barker Street Apartments.
Developed in 1996, it includes 59 units, most with five bedrooms, but some with two (story continues below).
The average room size is 10-12 sqm.
There are also seven car parks.
“The site will greatly benefit from the newly rezoned ANZAC Parade precinct just a block away, which will see new height limits ranging from 31-54 metres and increased Floor Space Ratio controls, which will continue the significant gentrification occurring from Kingsford through to Kensington” the agents promoted.
Barker Street Apartments is surrounded by four storey buildings.
Kingsford is about seven kilometres south of Sydney.
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