Privately-owned developer Guansheng Australia has released plans for a new 16-storey student apartment complex converted from a century-old warehouse in Sydney’s Haymarket.
The proposed $48 million project, designed by Sydney firm Francis-Jones Morehen Thorp (fjmt), will provide central Sydney with 83 dwellings for students, ranging from studios to shared apartments with common living areas.
Early plans also outline nine residential apartments to be located between levels 13 and 15.
Guangsheng acquired the site for $18 million in 2014 from businessman and property investor Peter Kazacos.
The proposal for 311-317 Sussex Street will retain a substantial portion of the existing non-heritage listed warehouses, known as the Hordern’s Buildings, which were built in 1914.
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“Our brief was to retain the existing warehouse and maximise amenity to the site through the activation of the ground plane and providing new dwellings for residential, student and boarding house accommodation,” Fjmt project principal Elizabeth Carpenter told The Urban Developer.
“Together with project manager Root Partnerships and the client, family-owned Guansheng Australia, we believe this project represents an emerging hybrid typology for the transient city dweller.”
Looking to take advantage of the burgeoning purpose-built student accommodation sector, Guansheng aims to target students studying at the various local universities and the general public through short term leases mid-semester.
The site, located on the western edge of the Sydney CBD, is within close proximity to the commercial and entertainment heart of Sydney and within walking distance of Town Hall Station, Darling Harbour and Chinatown.
Sydney remains the most attractive Australian market for the growing purpose-built student accommodation sector.
Student operator Urbanest opened its doors to its newest student housing development in Pyrmont last month, while Singapore-listed property developer Wee Hur Holdings recently unveiled plans for an 18-storey student accommodation tower in Redfern.