Ascott acquires first lyf-branded co-living property in Sydney, Australia

The freehold asset was acquired through its serviced residence global fund.

The Ascott Limited (Ascott), a wholly-owned lodging business unit of CapitaLand Investment Limited (CLI), has acquired its first lyf-branded co-living property in Sydney, Australia.

The freehold asset to be named lyf Bondi Junction Sydney was acquired through the Ascott Serviced Residence Global Fund, making it the fund’s third investment in 2022.

lyf Bondi Junction Sydney has 197 units and is slated to open in 2024.

Apart from lyf Bondi Junction Sydney, Ascott also has another lyf property in Australia called the lyf Collingwood Melbourne which opened recently.

With the Sydney property’s acquisition, and the Melbourne property's opening, Ascott now has 18 lyf properties with over 3,400 units across 14 cities in nine countries including Singapore.