Considered the largest purpose-built co-living asset in Australia, the brand-new, fully operational asset, 5PM- Burwood, officially hits the market for sale with an expected sale price of over $40 million. The property is exclusively represented by agents Andy Hu and Paul Savitz from Savills Australia and New Zealand, and Steam Leung and James Cowan from Colliers on behalf of a syndicate of private individuals.

The co-living space is located in Sydney’s Inner West at 40-46 Stanley Street, Burwood, on a 1,576 sqm plot of land. Completed in March 2024, the seven-story building features 95 self-contained, fully furnished, and air-conditioned studio apartments. It offers five levels of residences, approved to accommodate up to 121 occupants, along with two basement parking levels providing 48 car spaces and 19 motorbike bays.

Surrounded by a diverse choice of eateries, shopping, entertainment, greeneries and parks, the residence is popular among international students, young couples and professionals. The property is conveniently situated in the prime Burwood CBD, best known for its vibrant commercial hub and fusion of cultures and traditions. 

Burwood has undergone a strong population growth, with a 32% increase since 2001, reaching a total population of 40,217 in 2021, according to the Australian Bureau of Statistics Census. The local council predicts that the number will nearly double to 73,500 by 2036. This prominent growth trajectory underscores the demand for modern, well-connected housing options like that offered by 5PM-Burwood.

Speaking of the opportunity, Andy Hu, Joint State Head, Asia Markets NSW, at Savills Australia and New Zealand, states, “5PM-Burwood is a premium investment asset with construction completing in early 2024. This prime asset offers several years of depreciation potential for the incoming purchaser with a unique opportunity to acquire a virtually new property.

“A flexible management agreement is in place, providing options to explore alternative management solutions,” said Mr Hu.

Paul Savitz, Director of Operational Capital Markets at Savills Australia and New Zealand added, “Investors are increasingly seeking opportunities in resilient asset classes. Co-living is one of the most sought-after sectors with over half of the global investors we surveyed recently intending to target the sector within the next two years.”

“Co-living accommodation is in high demand, both from a tenant’s perspective especially given Sydney’s extremely tight vacancy rate and rising unaffordability, whilst offering a unique opportunity for investors to acquire a brand-new living asset with immediate cashflow at a price well below current replacement costs”.

Steam Leung, National Director, Asia Markets, at Colliers, further stresses, “The property is exceptionally well serviced by public transport with just one stop from Redfern Station, two stops from Central Station and a 17min commute to Parramatta CBD. The well-connected area is especially appealing to university students, offering quick access to UTS, USYD, TAFE and other major educational institutions.

“Classified as the first strategic centre west of the Sydney CBD and one of the priority growth areas by the NSW Government, Burwood is expected to undergo a strategic transformation to further grow its local economy and strengthen its transport corridors with the planned opening of Burwood North Metro Station in 2032,” he concluded.

Expressions of Interest for 5PM-Burwood to close late March 2025.