A 40 room boarding house project located directly opposite the University of New South Wales was completed in November 2017.
Construction of 228 King Street in Newtown to commence early 2018.
Positive Investment Enterprise, in partnership with LJ Hooker has unveiled its latest boutique project of 15 luxury apartments in the heart of Bondi.
Positive Investment Enterprise is an asset development and investment conglomerate focusing on Property Development Venture Capital.
The project has been touted as “Pure living, Pure luxury, Pure Bondi” all of which was on show at the Bondi Icebergs Club launch on Wednesday (April 5) evening.
Kew Bondi will feature a selection of two and three bedroom apartments, each designed to take advantages of the northern sun and the benefits of the dual street frontage.
With luxurious design and finishes, inspired by the natural beauty of the Eastern Suburbs coastline it was not surprising that a number of apartments were quickly snapped up on the evening.
Construction is schedules to commence late July 2017 with completion due by November 2018.
It is extremely rare for a new project of this size and quality to become available in such a premier location with a short stroll to Bondi Beach, Icebergs and the Bondi to Bronte Walk.
Nick Breadman selling agent from LJ Hooker Bondi Beach said this type of development in the
“Considering the limited opportunities to buy into a brand new luxury development in Bondi Beach, it is not surprising the significant interest this has generated already,” he said.
For more information on Kew Bondi contact Nick Breadman at LJ Hooker Bondi Beach on 0407 551 446 or go to www.kewbondi.com.au
Purpose built student housing produces reliable rental income flows which, although derived from short tenancies, is secured by depth and stability of demand. Growing demand from internationally-mobile students, combined with low levels of competing supply in many world-leading university cities, is creating new opportunities for investment in premium purpose built accommodation.
The report says investment in the sector has risen rapidly post downturn, expanding from $3.4 billion globally in 2007 to a new high of $7.2 billion in 2013.
Oversupply is a rare phenomenon in student housing as the increase in student numbers over the last 10 years has left most higher education establishments short of accommodation.
With yields in the range of 6 to 7.5 per cent, student housing is certainly an asset class to look out for.
Article from SMH called “Student Housing recognised as one of the best performing sectors during economic downturn” written by Carolyn Cummins
A combination of falling Australian dollar values, rising demand from China and growth in international education is expected to increase the need for student housing over the next three years, a housing expert suggests.
The higher education sector will enrol about 1 million effective full-time students by 2016-17, according to ARINA Hayball education specialist Geoff Hanmer. Of those students, about 350,000 will live away from home and need accommodation, generally in Sydney and Melbourne, Mr Hanmer said.
Australian government figures show the number of international students starting higher education courses were up 5.1 per cent over the year to March but vocational students were still falling, down 6.1 per cent.
Mr Hanmer said Melbourne’s city-based universities were hampered by ”inertia” in their efforts to cater for student housing demand.
Melbourne University caters for about 3 per cent of its student population despite having large developable land holdings, he said. ”Most universities treat their campus like it’s a national park. They are very reluctant to release any parts of the campus for other types of development,” he said.
RMIT vice-chancellor Margaret Gardner said her university had an affiliation with housing provider RMIT Village but still had unfulfilled long-term student accommodation needs.
Mr Hanmer said the University of NSW was one of the few institutions building student beds despite having a smaller campus than Sydney or Melbourne University. It had just built 2000 student housing beds and was in the process of constructing another 450, he said. ”There’s a lot of scope but it’s putting together the diverse elements that seems to be the problem,” Mr Hanmer said.
Colliers International’s Tim Storey said demand for rental accommodation, particularly close to the city campuses of larger universities, was still very strong despite a dip in student numbers over the past few years.
Australia’s international enrolments comprise about 30 per cent of students and are worth nearly $15 billion a year.
Article from SMH called “Rising call for student housing” written by Simon Johanson.
When is the best time to buy a new apartment? Is it when a project is first announced so you can have the pick of what’s available off the plan? Is it when the building is half-built so you can see what kind of shape it will take? Or is it best to wait until it’s finished and you’re able to walk through, see the view and touch the finishes?
“It’s really a supply-and-demand issue,” says Tim Carrick, of Primus Development Management Services, project manager for the 68-apartment block the Cooperage in Dulwich Hill that is now being sold off the plan, with completion set for early 2015.
“In an…up-and-coming suburb, there doesn’t seem to be the quality of stock for people to choose from so it’s good to get in early with an offering like ours. And developers can probably charge a premium if they sell off apartments after they’re built.”
The Cooperage, on the former site of an old pub of that name, has been designed by architectural firm Jackson Teece. With balcony screens forming a gold-looking facade, it’s in a prominent corner location and will house a state-of-the-art public library. But for those who prefer buying something that already exists, the 180-apartment Panorama complex, a JPRA-designed five-level building fronting a 16-storey tower in Crows Nest, is just being finished.
Here potential owners can see exactly what they’re buying, as well as take in the views of the city skyline to the Blue Mountains from the upper floors.
“People can see the high-level finishes, the beautiful marble floors, the terrazzo stone, the floor-to-ceiling glass,” says Tim Rees, of agency CBRE.
Greg Shand, of developer Barana Group, says many people like to see what they’re buying. “Demand seems to be even stronger now that we’re selling the completed product,” he says. “Obviously, you’re never sure if it’s because it’s finished or whether the market is even stronger now, although it has become a bit more expensive than when it was sold earlier off the plan.”
Halfway between these options is an apartment complex that’s not yet finished. DNA Camperdown – scheduled for completion by mid-2014 – is an example.
Designed by Marchese Partners, two of the three buildings of the 133-apartment complex are close to completion, while work continues apace on the last stage.
“The structure of the buildings is finished, so buyers can get a good view of the site and the building forms,” developer Mark Mezrani says. “They can’t go on the site just yet, and it’s still a few months away before the apartments are fitted out.”
A real advantage of buying at this stage, Mezrani says, is the ability to get a good idea of what the building will look like before prices go up on October 1.
The Cooperage, corner of Herbert Street and New Canterbury Road, Dulwich Hill, will have 36 one-bedders (50-61 sq m internally) from $499,000; 23 two-bedders (75-92 sq m) from $629,000; and nine three-bedders (96-115 sq m) from $759,000. See the-cooperage.com; 1300 153 810.
Source: Sydney Morning Herald, Domain (http://smh.domain.com.au/real-estate-news/to-see-or-not-to-see-that-is-the-question-20130919-2u0bt.html). September 21 2013