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Perth’s first off-campus facility to significantly boost student accommodation

Stirling Capital has been granted development approval to build Perth’s first purpose-built student accommodation facility in the CBD.

This accommodation will support the Perth Education City initiative and provide a home for a growing number of international and local students, visiting academics and teaching staff.

Australia is now firmly established as the number three destination for an increasingly globally mobile student population of four million students worldwide.

According to Savills’ Student Accommodation 2016 Market report** released this month, international student numbers are growing annually at double digit rates, underpinning the demand for purpose-built student accommodation.

The new facility at 89-95 Stirling Street will be permanently staffed and operated by an accredited student accommodation facility provider.

Plans for the 22-level tower include provision for 543 beds in 189 self-contained apartments (studios to 6 bed units), and generous communal facilities specifically curated for the needs of students to encourage interaction and a positive learning environment.

The facility will also feature a 15m lap pool, gym, library, rooftop outdoor area that includes a cinema, bar, outdoor kitchen, relaxed meeting spaces and recreational areas. There is provision for a commercial tenancy at ground level for dining or retail use, and significant parking for bikes and scooters.

Stirling Capital Managing Director, Luke Reinecke said:
“We are excited to be working with Perth Education City to bring this project to fruition. Education is one of Perth’s major exports, and the provision of quality student accommodation is an essential component to enhancing Perth’s attractiveness as an affordable and accessible education destination.”

“The Stirling Precinct location is undergoing rapid urban renewal and is highly accessible for students, close to universities, public transport and within easy reach of an exceptional range of retail, dining, cultural and community services,”

“A number of residential developments are already underway in the immediate vicinity of the student accommodation facility, as well as some office accommodation. This new student accommodation will add further diversity and bring more people to the area.”

The quality of Australia’s universities in the global market for higher education is a major drawcard for international students.

Currently, Perth is ranked 35th in the QS Best Student Cities rankings 2016, a ranking of the world’s leading urban destinations for international students.

Gaye McMath, Executive Director, Perth Education City project said:
“I am delighted to see this significant development progress as it will trail blaze the availability of high quality, purpose built and affordable student accommodation in the Perth CBD. It will be a very attractive living option for international students who study in WA universities and colleges.”

Ms McMath said, “International students contribute significantly to the economic and cultural richness of the community. The vibrancy and benefits that students bring to a city can be seen all over the world and Perth is ideally located to become an even more significant education destination and gateway to Australia for international students”.

According to StudyPerth, there are 44,800 international students studying in WA from 140 countries. It is estimated that international education generates 10,000 jobs and contribute $1.345 billion per annum to the WA economy.

The Perth Education City project is a joint strategic initiative of the West Australian Higher Education Council comprising the Minister for Education and all the universities’ Vice- Chancellors.

An analysis of the existing supply of Purpose-Built Student Accommodation (PBSA) by Savills (provided by both the universities and commercial operators) indicates that in all the major Australian metropolitan locations apart from Canberra, there is currently less than one bedroom of purpose built accommodation for every 10 students.

All of the major Australian cities have less provision than more established markets such as London, where the ratio is less than one bedroom per four students (27% of full-time students can access PBSA).

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