Singaporean co-living company announces plans for Sydney expansion
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Sep 10, 2019
Singaporean co-living company announces plans for Sydney expansion
Co-living company, Hmlet, has announced a partnership with Sydney-based developer Revelop to open four new co-living properties across Sydney.
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HmletAn artist's impression of the new Hmlet property at Harris Park.
Co-living provider Hmlet is set to broaden its reach within Sydney as part of a newly formed partnership with developer Revelop.
The Singaporean company will add a further 110 beds across four properties in Mays Hill, Harris Park, Balgowlah, and Petersham.
The announcement comes six months after Hmlet opened its first properties in Australia, with Newtown and Marrickville the chosen locations.
New spaces have since opened in Paddington and Alexandria.
Hmlet Australia Chrystan Paul told WILLIAMS MEDIA every part of the expansion had been "demand-driven".
"Structurally, if you think about the rental market in Australia, specifically in Sydney, it can be a pretty unpleasant experience," he said.
"If you find a two-bedroom apartment, not only do you have to provide rental history and pay bond upfront, but you also have to find a housemate who is on time and reliable, so you don't have to cover their costs.
"Its a very arduous, fragmented and disconnected process, while we have worked to create solution that is seamless, which I think is why the market has been so receptive to what we are doing."
Hmlet Mays Hill. Source: Hmlet
Opened in early August 2019, Hmlet Mays Hill offers 31 rooms over four levels and a communal rooftop. It is located just a 5-minute bus ride from the Parramatta CBD and a short walk to Parramatta Park, making it the ideal suburban spot for working professionals.
Hmlet's purpose-built co-living project in Harris Park, which will serve as the company’s flagship for the Western Suburbs, is scheduled for completion in late 2020.
The Revelop-Hmlet partnership was brokered by JLL’s Director, Sales & Investments – NSW Dylan McEvoy and Associate, Alternative Investments – Australia Thomas Madigan.
Mr Paul said the announcement of the partnership represents a new strategy for the company.
"So far, we haven't spoken a lot about what we are doing in the market," he said.
"We feel like now is the time to say, 'here we are and here's what we have been doing'.
"It's been successful so far, and we think it will become a real alternative to the traditional rental model."
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