New kid on the student accommodation block, The Switch, has won approval for amendments to a 15-storey facility at Macquarie Park—its first in Sydney and the fourth across Australia.
The accommodation platform set up about four years ago by Craig Oliver and David Cameron is understood to have paid about $33.15 million in April last year for the two properties that make up the 2270sq m site at 23-25 Lachlan Avenue, Macquarie Park.
About 10 months earlier the Sydney North Planning Panel approved an application for a similar 15-storey purpose-built student accommodation (PBSA) facility on the same site, with 488 beds, communal recreation rooms and basement parking.
But late last month Ryde City Council agreed Switch could amend those plans, adding 27 rooms to the Rothelowman-designed building, for a total of 499 beds.
In other design changes Switch will almost halve the number of carparking spaces, consolidate communal areas, add an outdoor rooftop area, and include kitchenettes within each studio space.
Online property development monitor BCI Central said the gross floor area would remain at 10,879sq m and the building’s height at 46.5 metres.
The $64.57-million Sydney project is part of a stated aim by The Switch co-founders, who both held previous roles with Global Student Accommodation Group, to double their Australian portfolio to about $900 million.
Switch is backed by Chicago-based asset manager Nuveen—one of the world’s biggest real estate investors.
The Switch’s first student accommodation project was in Perth, a 483-bed, 40-storey tower at 555 Wellington Street, completed in March of 2022.
A 34-storey building with 347 beds opened in Adelaide two months later, and a third facility beside Melbourne’s Queen Victoria Market with 640 beds opened 12 months ago.
In documents supporting the design changes, Sutherland and Associates Planning told Ryde council the refinements would “achieve an incremental improvement to the functionality and amenity of the development”.
“The various amendments that are proposed to the approved development reflect the refinements necessary to meet COR Partners’ design requirements which are based on their significant experience with student accommodation and desire to optimise the amenity of the facility,” the documents said.
The Switch is the brand name of Cor Partners Pty Ltd.
In an unusual change for a student accommodation facility, communal kitchens will be moved off residential floors and kitchenettes will be included within studio apartments.
Sutherland said that would help reduce noise complaints from residents.
“The originally designed communal kitchens on residential levels are likely to create hygiene issues as a large number of residents are required to share a limited cooking space,” the urban planners wrote.
“There are also potential hazards of smell from fridges and bins as it would be hard to regulate when fridges are shared and bins would easily overflow during busy hours.”
Basement carparking will be cut from 64 to 34 spaces.
The Switch estimates more than 90 per cent of residents at the Lachlan Avenue facility will be international students.
Sutherland said there was no onsite parking in any of The Switch’s other accommodation properties where the majority of residents were international students.
“The Switch’s observation is that when a purpose-built student accommodation asset is close enough to universities and a major shopping precinct, it will significantly reduce the need for residents to own a car.”
Ten spaces will be allowed for car sharing.
