A 7,600 square metre property located at 153 to 157 Anzac Parade in Kensington has been listed for development. The prominent corner position has been deemed as an ideal location for student housing since it is close to the University of New South Wales (UNSW).
The Anzac Parade property is also close to the Prince of Wales Hospital Complex and the Kensington Town Centre. It is conveniently near the South East Light rail link which links commuters from Kensington to Kingsford, Randwick and the CBD.
Interested developers have many options for this property given that it has been approved for mixed-use in 2014. In its initial development application, Randwick Council gave its consent for the development as a 7-storey building with 31 apartments and four retail spaces in the mezzanine on this Anzac Parade site.
However, the approved development application may still be amended.
“Local planning rules allow various alternative development possibilities – including student accommodation – to a height of 25 metres, or seven levels. The proposed rules would permit a height of 31 metres, or nine levels,” Ben Hunter of JLL said.
The supply of student housing in Kensington is rising in demand as the student population also grows in the precinct. Kensington needs at least 2820 student accommodation beds to be ready for the future.
Interested developers may contact JLL Sydney about the property for sale.
