Strong demand for rental accommodation as The Switch opens on North Terrace, Adelaide

It’s a normal-looking kitchenette – but it’s in a new CBD high-rise offering a novel solution to Adelaide’s rental crisis. You’d better be quick though.

Shrihari “Harry” Khanzode has moved from Brisbane to Adelaide so he can work from its newest – and second highest – apartment tower.

The 27-year-old university business graduate was among the first tenants to move into The Switch on North Tce when its heritage-listed doors opened on Monday.

The 34-storey, $65m building incorporates the facade of a former warehouse built in 1878 for merchant firm G & R Wills and Co, which sat derelict for decades.

It features studio apartments, four-bedroom suites with shared toilets, showers and kitchens, common working spaces, an outdoor terrace and a communal kitchen. Its top floor is a lounge with panoramic views of Adelaide.

Tenants sign leases ranging from $295 to $430 a week, which cover all expenses, including electricity, use of a gymnasium, refuse disposal and laundry facilities.

One of the four-bedroom shared apartments at The Switch on North Tce. Picture: Supplied

While predominantly aimed at university students, The Switch also is available to young professionals.

Mr Khanzode said he found The Switch online when searching for somewhere to live while working remotely for a Victorian-based business development provider.

University graduate Shrihari Khanzode and The Switch general manager Belinda Henderson. Picture: Matt Loxton

“They suggested I work from Adelaide as many of my colleagues are here,” he said.

“I saw The Switch on Google and it was ideal for me.

“It has everything I need: a room to work from, amazing wi-fi, a gym and kitchen. It is ideal, I can work from home.”

Mr Khanzode said he became ineligible for student accommodation when he recently graduated from university in Queensland.

“Normally these sorts of places are just for students but this one is different because young professionals also are welcome,” he said.

The opening of The Switch comes as the Adelaide CBD – along with most of South Australia – experiences an escalating rental crisis. Latest data shows the city’s rental vacancy rate last month was 1.4 per cent, the lowest it has been since 2010.

Views from the lounge on the 34th floor of The Switch accommodation tower on North Tce. Picture: Supplied

The Switch general manager Belinda Henderson said it would help fill the growing gap in rental accommodation, especially for young professionals.

“Not only are we filling a gap in the market by introducing a new type of residential living experience where people can live, learn, work and play under the one roof, we are helping beat the rental crisis,” she said.

Ms Henderson said there had been strong interest in The Switch, with tours regularly resulting in new tenants signing leases.

“I expect we will be at capacity very soon,” she said.

The Switch co-founder Craig Oliver said buying homes had become “out of the question” for many young people.

“Renting on your own is not only expensive but can be incredibly lonely,” he said.

“The Switch is catering to the young generation of renters.”