Brookfield has anointed global contractor Multiplex to build the Canadian-based multinational’s first Australian student housing project.
The project, a joint venture with Citiplan and Journal Student Living, is slated for Carlton, opposite the University of Melbourne’s Parkville campus.
It is planned for an amalgamated block at the corner of Bouverie and Grattan streets that is within walking distance of the CBD, Lygon Street, Queen Victoria Market and Melbourne Central.
Multiplex has been awarded the contract after early contractor involvement, collaboratively working with Brookfield, Citiplan and Journal Student Living to develop the design, pricing and construction methodology for the project.
Multiplex regional managing director Ross Snowball said they had also worked on student housing projects for La Trobe and Monash universities.
Designed by award-winning firm Jackson Clement Burrows Architects, the Carlton building will span 13,632sq m comprising 464 beds across 15 storeys as well as three retail tenancies.
Brookfield Head of Real Estate Investments for Australia Ruban Kaneshamoorthy said there were significant tailwinds for student accommodation in Australia.
“We see this as a highly favourable environment to develop sites, with international students returning to study and existing accommodation almost at capacity.
“The winning combination of location, amenity and design will make this site a highly sought-after space for students.”
According to commercial real estate agency Savills Australia, Australia’s student accommodation sector remains robust and tightly held, characterised by a shortage of supply, with Melbourne a hotspot for investors.
The planned development includes a basement level of communal recreation spaces such as a gym, games room, laundry, kitchen and dining area, while the ground-floor level offers an open entertainment area, lounge and library.
Study areas will be dotted across the first, second and third floors.
Construction will include the partial demolition of the building at 166-170 Bouverie Street, which will have its heritage facade retained as part of the project’s finished design. Other buildings on the site will be demolished.
Works is expected to be completed by the second quarter of 2025.
