Australia: Development company The Switch has opened its first project in Australia, a $70 million coliving concept in a 39-storey skyscraper in Perth’s CBD.
It’s the first in a series of The Switch locations due across Australia, with Adelaide and Sydney later this year and Melbourne in 2023.
Its features 483 fully furnished bedrooms with flexible lease arrangements, coworking spaces, rooftop bars, lounges and community gardens.
The project is designed to attract young professionals, students, creatives, digital nomads and entrepreneurs with added extras including on-site classes, workshops and pop-up events, internship opportunities and ‘influencer think tanks’.
Founding partner Craig Oliver said: “More than 250,000 25 to 34-year-olds live on their own in Australia, a fifth of them earn above the average national income, and 1.46 million rent and will do for most of their lives, but they want housing options that better suit their lifestyle and needs. The Switch fills a gap in the market for share accommodation.
It’s radically inclusive, aspirational and sophisticated living for future thinkers who want a positive change in their lives, and a switch to contemporary, holistic and uncommon living.”
“Lifestyle-led living is emerging as a hugely popular, fast-growing accommodation option for younger demographics in Europe and the UK, and it’s a trend that is set to continue in Australia in a big way,” he added. “We have a team of quality staff that are on-site 24/7 to support with the resident experience,” said Mr Oliver. We take care of the cleaning of all common spaces and residents can choose to clean their own rooms or have them cleaned by our team.”
The Switch estimates it will house more than 3,400 renters across Perth, Adelaide, Sydney and Melbourne, with numbers growing to 12,000 across Australia and New Zealand by 2030.
In 2020, research from Savills identified Perth as a potential coliving hotspot.
