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.