Rare Co-living development site in inner city Sydney

JLL has listed for sale a scarce DA-approved Co-living development site in Sydney’s Alexandria.  The development site in Alexandria has DA approval for a five-level building with 66 studios and two ground-floor retail outlets.

JLL’s Gordon McFadyen and Dylan McEvoy are the selling agents for the 846 sqm site to be known as Thornton on Chapel at 22-32 Botany Road.

JLL Joint Head of Metropolitan Sales & Investments – NSW Mr McFadyen said the Alexandria site features a valuable DA approval, limiting planning risk and reducing the project timeline. In addition, the DA has been strategically designed to ensure it is targeted to the right market.

He said the Co-living development opportunity incorporates existing building features without requiring a basement or parking therefore reducing construction costs and improving overall feasibility.

He said the Alexandria development is in a premium city fringe location bordering Alexandria, Redfern, Eveleigh, and Waterloo. The site is surrounded by key amenities: Redfern Station, University of Sydney, UTS, Royal Prince Alfred Hospital, Eveleigh business centres, and Sydney CBD with direct access to extensive transport networks being 150m from the new Waterloo Metro Station opening this month.

Mr McEvoy said the proposed development is perfectly positioned to capture the ideal demographic for this project, with 38% of the area's population aged between 20 and 34 and 53% of dwellings rented.

The development site - located at 22-32 Botany Road, Alexandria is being sold via an Expressions of Interest campaign, closing at 2pm AEST, 12^th of September.