-‎Wire-

Developer Sirona Urban and landowner Seven Entertainment Pty Ltd have submitted plans for a $170 million, 33-storey student accommodation tower at 18-28 Telethon Avenue, Perth CBD, featuring 854 beds and extensive communal amenities near ECU City campus and RAC Arena.

The facility was agreed for an experienced property investor and developer operating in the student accommodation sector. The borrower had acquired a former office building in Aberdeen city centre and secured planning consent to convert the property into 52 self-contained student studios.

Heitman closed its largest fund to date, Heitman Value Partners Fund VI, securing $2 billion in commitments—exceeding its $1.75 billion target—and an additional $620 million in co-investment capital, providing approximately $6.55 billion in deployable capital for growth-focused real estate investments.

Ardian and Rockfield’s European student housing venture expanded by 1,500 beds through three acquisitions in France, Spain, and Italy, including forward purchases in Milan and Bordeaux and a standing asset in Barcelona, marking its first investment in France since launching in late 2024.

Paragon Bank provided a loan to refinance and support the ongoing development of Peppermill Court, a £34.7m PBSA project in York led by HACS Construction, with completion expected in summer 2024.

The University of Pittsburgh plans a 400-bed dormitory for first-year students at property it owns near Fifth and Ruskin avenues in Oakland. The university is in a design-build selection process for a first-year residence hall at a parking lot adjacent to the Music Building and annex, said spokesman Jared Stonesifer.

Gamuda Land UK’s current gross development value (GDV) stands at approximately £1.5 billion, with around 70% allocated to office developments and student accommodation representing roughly £300 million across three sites, reflecting a strategic focus on assets with strong supply-demand fundamentals amid evolving UK real estate conditions.

The Development Bureau has invited expressions of interest for student hostel projects on three commercially zoned sites in Kai Tak, Siu Lek Yuen, and Tung Chung East, marking the first government land sale exclusively for student accommodation use.

Coventry City Council has approved a change of use for Waters Court in Salt Lane from exclusively student accommodation to a flexible model including serviced apartments, aiming to address high vacancy rates amid declining student demand.

Orka Investments has partnered with a global institutional real estate investor to acquire UK purpose-built student accommodation (PBSA) assets, starting with three off-market deals totaling 1,300 beds primarily located near Russell Group universities.