Investors turn to whole apartment blocks for income and control

Investor appetite for whole apartment blocks is strengthening across Sydney, as buyers traditionally focused on prestige homes and individual apartments look to multi-tenanted residential assets for diversified income, greater control and long-term capital growth. 

Cushman & Wakefield’s NSW Investment Sales team has observed an increasing number of private investors seeking entire residential buildings, particularly in tightly held metropolitan locations where rental demand is supported by major employment, education and transport infrastructure. 

The shift reflects a growing focus on the income characteristics of apartment blocks, which allow investors to spread rental income across multiple tenancies while retaining complete ownership of the underlying property. 

Cushman & Wakefield Investment Sales NSW Executive Henry Robertson said the structure was increasingly appealing to investors looking for residential exposure without the limitations associated with individual strata holdings. 
“We are seeing more investors who have historically held high-end residential houses or individual apartments considering whole apartment blocks as an alternative way to deploy capital. 

“The attraction is the combination of multiple income streams within a single asset and 100 per cent ownership of the property. Rather than relying on one tenancy, income is diversified across a number of apartments, while the owner retains control over leasing, improvements and the longer-term strategy for the building. 

“That control is becoming increasingly important to buyers, particularly those who want the flexibility to reposition or improve an asset over time without having to navigate a strata body” he said. 
The trend has been particularly evident in Sydney’s Eastern Suburbs, including Randwick, where apartment blocks benefit from a large and diverse rental catchment. 

Randwick is anchored by the Randwick Health & Innovation Precinct, UNSW Sydney, Prince of Wales Hospital and Sydney Children’s Hospital, while the light rail provides direct connectivity to the Sydney CBD. Its proximity to Coogee Beach and the broader eastern suburbs coastline also continues to support residential demand. 

Mr Robertson said these fundamentals were influencing how investors assessed vacancy and longer-term income prospects. 
“Randwick has a particularly strong combination of demand drivers. You have major health and education employers, students and professionals, good public transport and proximity to the coast, all supporting a deep rental market. 

“For investors looking at an apartment block, that depth of demand is important because it helps reduce exposure to prolonged vacancy across the building. Buyers are increasingly looking beyond the value of the individual apartments and considering the resilience of the building as an income-producing investment.” 

Cushman & Wakefield’s NSW Investment Sales team has transacted approximately $41.5 million of apartment blocks in Randwick since the beginning of 2026, including properties at 229–231 Avoca Street, 23 Blenheim Street, 7 Blenheim Street and 11a Dudley Street.  

Mr Robertson said the level of activity reflected growing recognition of Randwick as both an established residential market and an evolving investment precinct. 
“Randwick has always been a desirable place to live, but investors are increasingly recognising the strength of the underlying investment fundamentals as well. 

“With limited opportunities to acquire entire apartment buildings in established Eastern Suburbs locations, well-positioned assets are attracting interest from investors looking for secure income today while retaining exposure to long-term land and capital growth” he said. 
To learn more, or talk to a Cushman & Wakefield Investment Sales expert, please visit https://bit.ly/4gVOUdb