Foreign Property News | Posted by Aye Myat Thu
Hmlet, a co-living specialist based in Singapore, constructed the biggest co-living space in Australia. According to The Australian Financial Review, the property is situated in the inner west suburb of St. Peters and is set to open its doors on November 15.
Called St. Peters Hmlet, the property was originally a part of a 38-unit apartment block Hmlet leased from a private eastern suburbs developer who intended on offering the entire block as build-to-rent units.
Now, the four-storey warehouse has been converted to a co-living space with 82 rooms, inching Hmlet closer to its objective of operating 500 beds in Australia by the end of the year.
Co-living spaces provide tenants with the flexibility to rent high-end rooms on a short- or a long-term contract.
St. Peters Hmlet is in a strategic location, just right next to the St. Peters train station and only takes a 12-minute commute to the city.
“We chose St. Peters as our latest and largest property to date in Australia, given its close proximity to the city and vibrancy of the surrounding suburbs,” said Hmlet Australia managing director Chrystan Paul.
“Our decision was also aided by the fact that our Newtown property is a few hundred metres away and has had 100 percent occupancy since opening earlier this year, therefore we know there is high demand from our members to live in the area.”
Ref: Propertyreport
