Summary:
- Hickory and MaxCap have begun construction on a $300 million, 26-level PBSA project at 570 Little Bourke St, Melbourne, delivering 892 beds across 748 units with completion expected in late 2027 and student occupancy from Semester 1, 2028. UniLodge will operate the development, enhancing Melbourne’s student accommodation supply and supporting the city’s education sector.
- The project integrates heritage restoration, including the Great Western Hotel, new retail spaces, and improved pedestrian access, aiming to activate the precinct and improve streetscape quality. It marks Hickory’s first fully integrated builder-developer PBSA project and MaxCap’s second PBSA investment following UniLodge Perth Central.
- Hickory’s integrated delivery model and use of SYNC prefabricated bathrooms are designed to reduce construction risks and defects, while hCapital and MaxCap arranged preferred equity financing, reflecting a strategic approach to social infrastructure investment focused on long-term resilience in education-related assets.
Original article:
https://propertymarkets.news/hickory-maxcap-300m-student-accommodation/
