159-171 Anzac Parade & 1 Lorne Avenue, Kensington_Property for Sale

159-171 Anzac Parade, Kensington, NSW, 2033, AU

159-171 Anzac Parade & 1 Lorne Avenue, Kensington

Asset Description

159 – 179 Anzac Parade & 1 Lorne Avenue Kensington, is a high-profile university-leased student accommodation asset within 600m of the University of New South Wales (‘UNSW’) Kensington Campus.

The asset’s super-prime location offers a high exposure corner frontage within Sydney’s sought after ‘Eastern Suburbs’, providing direct access to bus & light rail transport linkages and proximity to renowned Australian beaches and the Sydney CBD.

The asset presents a blue-chip covenant to UNSW and a 13.5-year WALE. CPI-indexed annual rental increases further provide long term, defensive income security, while uncapped market reviews every 5 years (next in 2029) allow for enhanced income growth and rental reversion upside.

Additionally, the site benefits from favourable planning controls, providing scope for future height uplift and re-development (STCA).

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Attributes

Occupancy

96.7%

Parking spaces

Beds

233

Rentable area

7,884 m²

Media

Investment Highlights

Prime opportunity to acquire a university-leased student accommodation anchored asset within 600m of the UNSW Kensington Campus
UNSW, ranked equal 19^th in the 2024 QS World University Rankings, accommodates over 65,000 students annually from 130+ countries
Located in one of Australia’s most premium residential locations, with existing market rental reversion and 5-yearly market reviews providing a clear pathway to income growth
Sydney is projected to face an annual shortfall of 2,100* PBSA beds over the next five years, underpinning future growth in student accommodation bed rates

*approximately

159-179 Anzac Parade & 1 Lorne Avenue Kensington is offered for sale via International Expressions of Interest closing Friday 4 October at 2pm (AEST).