Australia: A coliving investment property in Sydney inner west has been sold ahead of its scheduled auction for $5.45 million (£2.85 million).
Located at 30 Chandos Street in Ashfield, the property comprises 19 self-contained studio apartments over two levels, with secure parking for four vehicles, on a 733 square metres site.
Recently renovated and extended, the block was purchased by a high-net-worth local.
The sale was negotiated by Knight Frank agents Anthony Pirrottina, Demi Carigliano and Shirley Fan.
The property sold within two weeks of being listed, well before its auction date.
Pirrottina said: “This sale is more evidence of the strength in transactions for unit blocks this year, including co-living apartment blocks. We believe as an asset class, unit blocks have been the most active segment of the market in 2025.
“Coliving assets continue to be highly sought after due to the strength of the residential market owing to an undersupply of stock, which underpins solid income and capital growth for these investments. They are also land tax exempt, which is another attraction for investors.”
Carigliano said: “Location was another big drawcard, with the property situated in a tightly-held inner western Sydney suburb. 30 Chandos Street is just 750 metres from the Ashfield train station and retail village, within walking distance to multiple bus routes and Parramatta Road.
“It is also positioned less than 800 metres from the nearest WestConnex entry on Parramatta Road, providing even greater connectivity. This particular property also had strong rental income with the potential for further rental upside, if rents are brought up to market levels.”
Highlights:
• A coliving property in Ashfield has sold for $5.45 million (£2.85 million)
• The asset was purchased by a high-net-worth local buyer
• The block comprises 19 renovated studio apartments with parking
• It was sold within two weeks of listing, before the auction date
• Knight Frank agents Anthony Pirrottina, Demi Carigliano and Shirley Fan negotiated the deal.
