Australia & New Zealand

Brookfield Asset Management has acquired a 50 percent stake in Journal Student Living, the student accommodation operating unit of Australian developer and investor Citiplan, as it seeks to capitalise on an influx of international students into Australia’s already tight private rental market.

A student living block with just shy of 200 beds is planned for a Perth university suburb. Now on exhibition is the proposal for a nine-storey development at 55 and 57 Fairway, Crawley, opposite the University of WA Crawley campus.

Scape Australia, Australia’s largest owner and operator of PBSA, has added two new properties in Melbourne’s CBD. The properties are currently managed by Journal Student Living, and will be rebranded by Scape to expand their portfolio to 38 buildings nationally with an additional 10 under development.

Under the MOU, HS Optimus will collaborate with and grant Fathom a period of exclusivity to apply for the relevant planning permits and to explore opportunities to jointly develop HS Optimus’ property located at 23-31 Lincoln Square South, Carlton, into a purpose-built student accommodation (PBSA).

Scape, the country’s largest owner and operator of purpose-built student accommodation, says the industry is carrying a hefty tax burden in Victoria, as it takes on the management of two more properties in Melbourne.

Superloop has announced the signing of three significant partnerships within its Smart Communities division. The agreements are valued at more than AUD $20 million and will service over 13,000 beds in the purpose-built student accommodation (PBSA) sector.

International students are shocked by the steep hike in visa fees from $710 to $1,600. The government says the change will help fund important higher education reforms.

Australia’s universities have descended into infighting over a proposed international student cap, with some bodies claiming the government is protecting elite institutions.

The Albanese government has more than doubled the international student visa application fee from $710 to $1,600 in the latest measure to reduce arrivals to Australia.

The Travelodge Resort Darwin at 64 Cavenagh Street in Darwin City comprises 224 rooms, including 32 townhouses, and resort amenities that include five swimming pools, the Treetops Restaurant, conference and events facilities, gymnasium, sun deck and barbecue area, and 115 carparking spaces. The building has the potential to convert to student accommodation.