Global property investment manager Nuveen Real Estate has opened a new 34-level apartment building in Adelaide, its second housing project to open in Australia.  

Nuveen partnered with Flinders University for the 347-bed property, The Switch, Adelaide Central, which was located at 203 North Terrace in Adelaide’s CBD. 

It was the latest asset that Nuveen and The Switch have opened, following The Switch Perth Central opening in March.  

The third project, The Switch Melbourne, Victoria Markets, is scheduled to open in Q1 2023, followed by the 250-bed The Switch Sydney, Kensington near the University of NSW.   

David Cameron, Founding Partner for The Switch, said lifestyle-led rental accommodation was a trend that was set to accelerate in Australia, having proven popular for younger people in Asia, the United States and Europe. 

“The Switch Adelaide Central provides a combination of a convenient location, lifestyle and community all in one.  

“The Switch brand promises more than just a superb building. It has been customised to appeal to the lifestyle expectations and dreams of a younger generation of renters with a focus on sustainability, technology and an active community.  

“This will all be delivered by our on-site staff who are experienced residential professionals who understand the importance of belonging and who will create unforgettable living experiences for our customers.” 

Ben Taylor, Director of Housing for Nuveen Real Estate Asia Pacific, said the partnership demonstrated The Switch’s ability to create strategic, value enhancing partnerships with high quality universities. 

“The partnership with Flinders University is a uniquely coordinated approach to offering Flinders’ students a high-quality accommodation solution as part of their enrolment to study, taking away the hassle of trying to find a well-priced, well-located, and high-quality home in a city that is interstate or on the other side of the world,” Taylor said. 

“Since the re-opening of Australia’s borders, we have seen through enrolments, visa applications and arrivals, as well as the high occupancy in our buildings, that the demand for Australia’s quality tertiary education offering remains strong and this continues to validate Nuveen’s long-term investment conviction on the Australian student accommodation sector.” 

Flinders University Vice President Corporate Services Mark Gregory said it was no secret that Adelaide had one of the most tightly held rental markets in the nation – supply has been tight and that has flow-on effects for affordability. 

“With our expansion onto North Terrace with Festival Tower, we know there will be increased demand for city-based accommodation for our students, especially those from regional South Australia, interstate and internationally,” Gregory said.  

“The location of The Switch just a few minutes’ walk from our new CBD campus means it will be a hugely attractive housing option, which is why we wanted to partner with Nuveen and ensure our students receive priority access.” 

The property includes a communal sky lounge, a theatre, outdoor terrace garden, communal kitchen, games areas, study and co-working spaces, and more.  

The Switch, Adelaide Central

The Switch, Adelaide Central