Co-living specialist Hmlet has launched its largest location in Sydney, as the Singapore-based company continues to widen its reach in the Australian capital.
The 82-rooms co-living space, which is set to open on 15 November, will boost the company’s portfolio in the country to 382 rooms across nine shared facilities, with more planned in Melbourne and Brisbane.
The Singapore-based company’s announcement comes just a month after signing a four-property deal with a Sydney-based developer to help ramp up its presence in Australia.
Boosting Supply in a Proven Market
“We chose St Peters as our latest and largest property to date in Australia given its close proximity to the city and vibrancy of the surrounding suburbs,” said Hmlet Australia’s managing director, Chrystan Paul.
Paul said that the decision was also based on the popularity of its nearby co-living property, Hmlet Newtown. The 16-room location has been fully occupied since opening earlier this year, signalling the demand for co-living in the area, according to the Hmlet Australia chief.
Located at the corner of 8 Hutchinson Street and 29 Applebee Street, the four-storey warehouse conversion features exposed brick and polished floors with minimalist interiors aimed at the post-industrial tastes of the millennial generation.
Just across from Sydney Park – the site of a former brickworks – the property is a five minute walk from St Peters train station, which has a 12-minute direct service to Sydney’s business district.
Communal Popcorn Evenings
The former warehouse, dubbed Hmlet St Peters, is intended to “meet the needs of Australians and expats looking for new living alternatives in Sydney”, according to Hmlet.
Prices range from A$370 ($253) per week for a fully furnished “Pocket” room with a shared bathroom to A$800 per week for a one-bedroom apartment with a private bathroom.
All members have access to a shared kitchen-cum-living room and a courtyard where Hmlet is intending to organise a pop-up outdoor cinema.
“When discovering the communal features of the property, we started bringing together ideas such as the pop-up cinema that would boost the property’s amenity and also provide an additional touch point for our members to connect and socialise, all while offering 82 beautiful rooms that redefine the sense of home,” Paul said.
All rooms are serviced and let out at a minimum rental term of three months.
Hmlet Ramps Up Regional Presence
Since entering the Australian market in February through the acquisition of Caper Co-living and the Australian company’s two Sydney properties, Hmlet has more than quadrupled the size of its portfolio down under.
Just over three weeks ago, the company signed a deal with Australian developer Revelop to add two additional properties in Sydney proper and a further pair of locations in nearby Parramatta.
The company is also ramping up its presence in other cities across Asia Pacific as it races toward a target of operating 2,400 rooms in the region by the end of this year.
Looking further down the road, founder Yoan Kamalski just 17 days ago pledged to open 10,000 rooms in Japan over the next three years through a $25 million joint venture with developer Mitsubishi Estate Company.
Facing Co-living Competition in Hong Kong
In Hong Kong, Hmlet plans to open a 57-room location in the protest-hit Mong Kok area next month, bringing its presence in the city to 250 rooms as it competes with a crowd of co-living operators chasing the attentions of millennial-minded expats and locals in the Asian financial hub.
Just three days ago, Hong Kong-based Weave launched a 95-room property in Kowloon’s hip Hung Hom area, increasing its room count to 255 after opening its first, 160-room shared living facility 16 months ago.
Just over a week ago, sources indicated to Mingtiandi that Weave had acquired a hotel in West Kowloon for HK$515 million that it plans to convert into a 250-room co-living space.