Top 7 co-living property investments for sale in Australia right now

Australian real estate agents are selling everything from worn-down blocks and glam new builds with development plans in place to create innovative co-living spaces across the nation, capitalising on the global trend and desperate need to shelter a growing population.

Here are some development opportunities (and one ready with furnished self-contained apartments) on the market right now across Australia.

Randwick, NSW

It’s hard to see the existing dated apartment complex and medical centre when looking at the architectural renders of the proposed co-living complex.

Boasting triple street frontage, the block is in an excellent location, just a short stroll from Coogee Beach in Sydney’s sought-after south-eastern suburbs.

Just six kilometres from the CBD, the property could be transformed into a modern co-living apartment project, with development approval in place for 40 self-contained apartments, retail and basement parking.

Investment brings an “opportunity to explore alternate uses and capitalise on huge demand for co-living, build-to-rent (BTR) or student accommodation,” the listing reads.

The 980-square-metre corner site at 32-34 Blenheim Street, Randwick, could grow to up to 2898 square metres in floor area.

The property sits among major amenities including the Prince of Wales Hospital, the Sydney Children’s Hospital, the UNSW biomedical precinct, a shopping centre and a light rail station. 

Ashfield, NSW

Agents are touting eight-storey Ashfield Village as “Sydney’s premier co-living investment opportunity”, and unlike the others here, it’s ready to go.

The freehold building at 193-195 Liverpool Road Ashfield, in the city’s Inner West, about eight kilometres from the CBD, offers 44 furnished self-contained studio apartments with modern finishes and appliances, excellent common areas, barbecue facilities and a fully leased ground-floor shop.

“Seamlessly blending convenience and community, this premium asset features multiple spacious communal living areas, large outdoor courtyard deck barbecue, fully equipped kitchen and common laundry facilities,” the listing reads.

“Flawlessly crafted by iCIRT Gold Star-rated builder Growthbuilt and expertly managed by UKO, Australia’s most recognised co-living management business.”

Camperdown, NSW

Another co-living investment opportunity is yours for the taking at 187–191 Parramatta Road, Camperdown, just 4.4 kilometres from Sydney’s CBD.

Set on a 424-square-metre corner site, this complex features 64 studio apartments, a shop, and a billboard for a diverse income stream with significant rental uplift potential. 

Ideally positioned in Sydney’s thriving education corridor, the property offers outstanding natural light, low vacancy rates and strong growth fundamentals in a tightly held Inner West location.

Woolloongabba, QLD

If you’re looking for more of a modern city-shaping residential project on a landmark site with expansive views of the Brisbane CBD and Brisbane River, you’ve found it at Station Square in Woolloongabba in the city’s inner south.

Touted as one of Brisbane’s most significant mixed-use development opportunities, the site spans an enormous 9092 square metres of land at Station Square on Stanley Street, with the potential to balloon to 211,922 square metres of floor space as student accommodation, co-living, hotel, serviced apartments, commercial or retail.

Located directly opposite the new Cross River Rail station and proposed Brisbane Live Arena, “seldom does an opportunity arise to acquire a site of this scale and with a variety of possible development outcomes”, the listing reads.

Get in quickly and make the most of the upcoming Brisbane Olympics in 2032.

Burwood, NSW

This inner-western Sydney co-living development opportunity – at 98-100 Wentworth Road and 9-11 Oxford Street, Burwood – sprawls across 968 square metres, and awaits transformation from four tired separate homes into a larger co-living complex.

With approved concept plans in place, the site, with excellent exposure and accessibility to education, shopping, transport and parks, brings in $174,200 in rent annually, but could be turned into a 102-room co-living space, with potential yearly income in excess of $3 million.

The site could also be used for multi-dwelling housing, apartments, shop-top housing, childcare, and townhouses, subject to council approval.

Mandurah, WA

Plans for an architect-designed mixed-use co-living space with a medical hub and NDIS services await investment to spring to life in a well-located transport hub in Mandurah, a coastal city less than an hour from Perth.

Designed along environment and sustainability principles, the Mandurah Smarter Community Centre – to be located at Lot 165 Morfitt Street – will be the place to be, with 90 co-living micro apartments, four NDIS apartments, cafe, medical centre and NDIS therapy hub.

Mandurah is Western Australia’s largest regional city, boasting stunning beaches and an estuary twice the size of Sydney, with many commuters heading into Perth’s CBD daily.

“Strategically located with 6000 daily commuters, it’s a blueprint for sustainable living and urban growth,” the listing reads. “Architectural plans and feasibility analysis are included.”

Manly, NSW

Located 100 metres from world-famous Manly Beach, Manly Boardriders backpacker accommodation is primed for repositioning as a co-living space.

While it has development approval to change the 28-room backpacker accommodation to 12 luxury residences plus retail, it also has the bones to ease the housing crisis through co-living, or as serviced apartments, flashpacker accommodation, office and/or retail.

While making plans for the site, sit back and make the most of strong revenue from the hostel, which is surrounded by an abundance of retail, lifestyle and public amenities, including the Manly Ferry, which takes you to Sydney’s CBD in 30 minutes.