Summary:
- Dexus completed Australia’s largest office-to-PBSA conversion at 41 George Street, Brisbane, delivering 1,182 student beds in a 27-storey tower with first residents moving in ahead of Semester Two 2026, addressing critical accommodation shortages in a fast-growing city.
- The project retained the original 1970s office building structure, significantly reducing embodied carbon by approximately 20,800 tonnes CO₂-equivalent compared to new construction, aligning with sustainability goals while revitalising a prime CBD location near major universities.
- Owned 95% by Dexus Real Estate Partnership and managed by UniLodge, the development showcases Dexus’s integrated platform and fund strategy, with DREP1 fully deployed and DREP2 actively investing, reinforcing their capacity to deliver large-scale, differentiated PBSA assets.
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