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Blue Sky's $70m Perth Student Accommodation Tower Gets Green Light

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Brisbane-based developer Blue Sky Private Real Estate has been granted development approval for their 30-storey student accommodation building on Perth's Wellington Street.

The $70 million tower, designed by Hayball Architects, is located on corner of Pier Street and Wellington Street, at the old Wellington Street Army Surplus store site, which Blue Sky acquired for $8.4 million in 2016.

Comprising 713 beds over 373 units and three ground-level commercial tenancies, the architects said that they deviated from traditional dormitory style student housing, instead adopting a more-typical residential floor plan combining a range of two- to four-bedroom units.

Blue Sky Private Real Estate entered into a joint venture with Goldman Sachs last year to tap into the growing student accommodation sector, with plans to build a $1 billion portfolio of student accommodation across Australian and New Zealand.

[Related reading: $70 Million Student Accommodation Proposed for Perth]

Blue Sky Student Accom 11


Blue Sky Private Real Estate co-head Edan Norris told The Urban Developer that it was the city’s global attraction as an education provider that made entering the market so appealing.

“Perth attracts interest from students around the country and the world who want to access high quality education and experience one of the world’s best lifestyles,” Norris said.

“International students love Perth CBD and want to be amongst it all, so for us developing our site at Wellington Street in the centre of Perth gives us a great opportunity for us to tap into that exciting market.”

Wellington Internal Image

When asked why the developer was drawn to the Perth student accommodation market, Blue Sky Private Real Estate Co-Head Edan Norris told The Urban developer it was the city’s global attraction as an education provider that made entering the market so appealing.

“Perth attracts interest from students around the country and the world who want to access high quality education and experience one of the world’s best lifestyles,” Norris said.

“International students love Perth's CBD and want to be amongst it all, so for us developing our site at Wellington Street in the centre of Perth gives us a great opportunity for us to tap into that exciting market.”

The Wellington Street building is well-positioned to take full advantage of Perth’s academic offerings, with a short trip on public transport to Curtin University’s law or business schools, Perth Library and History Centre and the Australian Institute of Commerce and Technology.

“Perth is unique in that its universities are located out of the city centre. We know students love to be in the centre of the city which is why our Wellington Street site has so much to offer them,” Norris said.

The development proposes to provide zero car parking for residents which Norris explained was a strategic play by the developer given the location and background of the occupants.

“It’s located centrally to all that the city has to offer – the nightlife, Elizabeth Quay and the main bus and train stations, making it easy for students to commute to the universities.

“We select well-located sites where students are able to use public transport easily. In our experience, the majority of our students prefer to use public transport.

“A large number of our students are from overseas and they love to be able to get around the city without having to worry about owning a car.

“Blue Sky is excited about delivering this project in Perth and giving students [the] opportunity to access a world class accommodation facility and student community experience,” he said.

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Article originally posted at: https://https://theurbandeveloper.com/articles/blue-skys-70m-perth-student-accommodation-tower-gets-green-light-