Perth to welcome first off-campus student digs
British-based property firm GSA has joined Perth investment group Stirling Capital to deliver the West Australian capital’s first off-campus student accommodation tower.
The $41 million facility at 89-95 Stirling St in Northbridge received planning approval in May as part of the WA government and the major Perth universities’ joint Education City initiative to boost its profile in the international student market.
The Australian revealed in February that GSA planned to expand its presence in Australia and outlined a plan to manage up to 25,000 beds in the next 10 years through takeovers and new development.
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GSA head of real estate Jon Whittle says the 22-storey student building will include a mixture of studios and shared apartments.
“As the first privately operated, purpose-built student accommodation facility to be developed in central Perth, we are looking forward to expanding our relationships with Perth universities and delivering a scheme that contributes directly to the experience of their students,” he says.
Quality student accommodation is essential to putting Perth on the map
Stirling Capital managing director Luke Reinecke says the Stirling St location will become part of the state government’s current urban renewal plans for Northbridge, best known as the home of the city’s main restaurants and nightclubs.
“The area is highly accessible to all universities and public transport, and is within walking distance to the new museum, art gallery and an exceptional range of bars cafes, shops and restaurants,” he says.
There are currently 44,800 international students in WA according to international education group StudyPerth and those numbers are expected to double in the coming year, with only campus colleges to meet the increasing demand for rooms.
Reinecke says the joint venture will work closely with the state government and the five Perth universities to boost WA’s attractiveness as an international education destination. “Quality student accommodation is essential to putting Perth on the map,” he says.
This article originally appeared on www.theaustralian.com.au/property.