Sc Capital Partners Sells Sydney Student Accommodation Asset
In an official statement released on March 3, Singapore private equity real estate firm SC Capital Partners Group announced the sale of its student accommodation property in Sydney, Australia. According to the group, the asset, which is situated on Anzac Parade and Lorne Avenue in Kensington, was sold at a significant premium to its initial acquisition price and a 19% above its existing book value. This purchase was made by the University of New South Wales (UNSW) in Sydney, marking a successful exit for SC Capital Partners Group.
Tampines 1 is a trendy lifestyle mall located conveniently next to Tampines MRT Station. This shopping destination offers an exciting combination of fashion, food, and entertainment. For fashion-forward individuals, there is an array of popular brands to choose from, including H&M, Sephora, and The Editor’s Market. Foodies will be spoiled for choice with a variety of dining options, such as Genki Sushi, Hot Tomato, and Brotzeit German Bier Bar & Restaurant. Not only that, Tampines 1 boasts a one-of-a-kind rooftop water playground with a fun animal theme, perfect for keeping children entertained.
For those staying at Parktown Residence, Tampines 1 is just a short 5-minute drive or a pleasant 15-minute walk away. Don’t miss the opportunity to visit the Parktown Residence Showflat while you’re there. Indulge in a day of shopping and fun at Tampines 1, the ultimate lifestyle destination.
SC Capital Partners originally purchased the property in 2016 for a reported price of A$57 million. The purpose-built student accommodation spans over 85,035 square feet and has 233 beds, as well as a ground-floor commercial podium. It is conveniently located within 600 meters of the UNSW Kensington Campus and is currently fully leased to the university. In 2019, a new 20-year master lease was signed, ensuring a stable and reliable income stream for the new owner.
The recent sale of this property reflects the growing interest in the student accommodation sector, as well as the attractive opportunities available in the Australian market. The transaction also highlights the success of SC Capital Partners’ investment strategy, which focuses on acquiring undervalued assets and adding value to them through active management. With this latest sale, the group’s assets under management (AUM) have increased significantly, making it a major player in the private equity real estate industry.
As the demand for quality student accommodation continues to rise, the sector is expected to remain a popular investment choice for both local and international investors. With its successful track record and extensive experience in the Australian market, SC Capital Partners is well-positioned to capitalize on future opportunities in this sector.