Summary:
- A portfolio of 14 student housing buildings in Paradise, Adelaide, comprising 110 bedrooms across three freehold sites, is set to sell for approximately $17 million, offering a projected 9 per cent yield and expected net income of $1.51 million by 2026.
- The package includes 10 buildings at Woodmere Ave, three at Norman St, and one at Gameau Rd, all designed for student living with modern amenities and remote management capabilities, currently 97 per cent occupied.
- The sale presents investors with an established income stream amid Adelaide’s significant student accommodation shortage, intensified by the recent University of Adelaide and UniSA merger, which is forecast to increase student numbers to over 70,000 by 2034.
Original article:
https://www.realestate.com.au/news/paradise-student-housing-tipped-to-fetch-17m/
