SINGAPORE (Feb 26): Hmlet, a co-living rental startup based in Singapore, has announced its expansion to Australia with the March 2019 launch of two co-living properties in the inner city suburbs of Newtown and Marrickville in Sydney.
This comes after the company’s recent conclusion of its US$6.5 million ($8.8 million) Series A funding round, led by Sequoia India, in Nov 2018.
The first purpose-built co-living property, Hmlet @ Newtown, will accommodate 20 residents at its location on King Street. Aside from a co-working space and communal living and kitchen spaces, it will also house a hospitality venue which will open to the public later this year.
Meanwhile, build-to-rent project Hmlet @ Marrickville will be home to over 70 residents and act as the corner property for the company’s expansion in Sydney. The property was recently completed in Jan 2019, and features 2,400 sq m of net leasable area (NLA) spread across six levels as well as facilities like a garden terrace and outdoor kitchen.
In a press release on Tuesday, Hmlet says these two properties represent the first of a series of new co-living properties to be launched in Sydney over the next few months.
The company adds that plans are underway to expand to Melbourne and Brisbane.
Hmlet was founded in 2016 by expatriates Yoan Kamalski and Zenos Schmickrath to offer flexible lease options, fully-furnished spaces and on-demand services, such as cleaning, for a millennial workforce-focused market.
The company has more than 15 locations across Singapore and Hong Kong, and soon, Australia. It aims to secure more than 2,400 beds by end-2019.
According to the company’s website, Hmlet matches its residents, or members to rooms according to their psychological profiles which are assessed by using “advanced psychometric techniques”.
Memberships require residents to secure a room in one of Hmlet’s co-living spaces by paying a month’s deposit and one month’s rent, as well as an annual $100 administration fee.
“With the growing demand for more flexible, community-based options of living in urban cities such as Sydney, Australia felt like the next natural move for us. With this move, we look forward to further expanding our brand and providing more individuals with the unique community and great opportunities and experience we offer to our members,” says Kamalski.
