Property Acquisition
Our property acquisition strategy is designed to drive further portfolio growth and thereby increase the supply of social and affordable housing in sought-after suburbs. Learn more about our acquisitions:
Leichhardt
Following two successful NSW Government tenders, Bridge Housing acquired 11 x one bedroom units in Leichhardt, utilised as affordable housing.
The properties were purchased on completion and form part of a larger residential redevelopment.
The properties are managed by Bridge Housing’s not for profit real estate business Home Ground Real Estate Sydney.
Punchbowl
The Punchbowl property comprises an older style two-level red brick residential flat building consisting of eight two-bedroom units with off street parking for residents.
Bridge Housing utilised our own equity, $1 million grant funding from LAHC, and NHFIC debt funding to acquire the property. It is zoned high density residential (R4) and is located within 800 metres of Punchbowl railway station.
The property has long term development potential, however, in the short term, we have refurbished the property to bring it up to Bridge Housing’s standards and have leased the units for social housing.
Ashfield
Bridge Housing has purchased 12 units in the Inner West suburb of Ashfield. The property comprises nine x two bedroom units and three x one bedroom units with ground floor garages and off street parking for tenants.
Bridge Housing has completed minor upgrades of the property, which is now 100% leased as social and affordable housing.
This acquisition forms part of our Community Housing Leasehold Program and leveraging commitments with the NSW Government, and utilised funding made available via the NHFIC.
Marrickville
The Marrickville property comprises the acquisition of 10 self-contained flats within a two-level walk up residential flat building.
The property is well located, within close proximity to Marrickville Railway station, local retail shops and services. The building is currently being refurbished to bring it up to Bridge Housing standards and will be leased as social housing.
The acquisition forms part of our Community Housing Leasehold Program with funding to acquire the property made available via NHFIC.
Dulwich Hill
Bridge Housing has purchased two adjoining properties in Dulwich Hill from the Land and Housing Corporation. The properties are well located within close proximity of Dulwich Hill railway station, light rail and local shops.
The properties have long-term redevelopment potential, however minor cosmetic upgrade works have been completed to bring the properties up to Bridge Housings standards and will be leased as social and affordable housing for the medium term.
This acquisition satisfies our remaining leveraging commitments with the NSW Government.