Irreplaceable mixed-use block with 32-self-contained studio apartments in Sydney’s city fringe
JLL as the exclusive selling agent, is proud to offer Sydney’s premier Co-Living opportunity, 46 Foveaux Street, Surry Hills For Sale by way of Expressions of Interest.
Optimally positioned within the true heart of Surry Hills, 46 Foveaux Street represents one of the finest examples of a co-living investment ever to be presented to the Sydney market.
This exceptional UDIA award winning, freehold development, comprises of 32 self-contained studio apartments, features modern finishes, customised furnishings and appliances. In addition, the asset features a ground floor retail premises which is home to ‘The Lid Doctor’, one of Surry Hills’ most renowned barber shop destinations.
Investment highlights include:
- 46 Foveaux Street is an irreplaceable asset that benefits from a rare planning approval that is not easily replicated in the land constrained and tightly held Surry Hills precinct.
- A meticulously crafted, award winning co-living development completed in 2017 by Growthbuilt, an iCIRT Gold Star rated builder
- 32 self-contained, fully furnished studio apartments all featuring kitchenette and bathroom facilities along with living/study space and select rooms with balconies, and views of the city skyline
- A ground floor retail premises leased to a ‘The Lid Doctor’ barber shop, which complements the investment with a strong and diversified cashflow presenting robust rental growth prospects
- Modern and spacious common areas for residents to revel in, including a communal living area with a well-equipped kitchen, laundry facilities, a rooftop terrace with BBQ facility and secure basement parking for bicycles and motorbikes
- Set within the heart of the eclectic and trendy Surry Hills, an evolving precinct known for its blend of art, creativity, charm and history, only 1.4km* south of Sydney CBD
- Significant depreciation benefits remaining and no GST payable with the asset being sold as a going concern
- Currently 100% occupied generating an estimated gross passing income of $1,247,160 per annum*
- Managed by UKO, Australia’s leading Co-Living management business with a key focus on inner-city rentals
- A wealth of extensive major projects from the public and private sectors currently underway, including Tech Central, Central Station Precinct renewal, Sydney Metro and Surry Hills Village which will further enhance the connectivity and accessibility of this precinct
- Strategically positioned to attract a thriving demographic of international students, young professionals, key workers, with leading education institutions including UTS, University of Sydney and National Art School nearby
- Perfectly poised to capitalise on increasing rents, fully supported by record low vacancy rates, upward rental pressure and the return of international students and migrants
- Highly connected location, only 450 metres* to Central Station which provides bus, train and light rail services throughout Sydney CBD and greater Sydney
* Approximate only
For Sale by Expression of Interest, closing Tuesday 7th November at 4pm (AEDT).
All enquiries, access to the due diligence dataroom, information requests, inspection arrangements and lodgement of offers are to be directed to the exclusive selling agents.
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