Melbourne-based developer Deague Group has submitted an application for a 15-storey student accommodation building in inner-city Brisbane.
Deague Group acquired the government-owned site in late 2013 for $24.39 million. The proposal is for 487 Boundary Road, Spring Hill.
Designed by Ellivo, the eight-metre wide building is made up of a five-storey podium under a 10-storey tower.
It comprises a total of 248-student accommodation rooms, with 1,243sq m of communal recreation space spread over three levels. The building offers 30 car parking spaces over two-storeys and 125 spaces for bicycles.
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Deague Group’s proposed student accommodation tower will sit next to their recently developed hotel, The Johnson – Brisbane’s first Art Series Hotel inspired by the work of Australian abstractionist painter Michael Johnson. Deague Group sold the Art Series Hotel group, located across Sydney, Melbourne and Brisbane, to the Mantra Group for $52.5 million last August.
The Boundary Street proposal comes only a month after Student One launched the “world’s tallest” student accommodation tower in Brisbane.
In its design proposal, Ellivo said the self-contained student rooms will vary in design and size, but all will incorporate kitchenette facilities, ensuite and private outdoor balcony spaces.
“These private student spaces are supported by multiple communal recreational and outdoor terrace areas spread over a variety of levels throughout the tower.”
Within walking distance of the Brisbane CBD, the accommodation will be primarily used by students of the International Education Services (IES), which have three separate campuses in Spring Hill including 433 Boundary Street, 495 Boundary Street and 88 Leichardt Street, all within 200 metres of the site.
It is understood the Deague Group has entered into an agreement with IES for the provision of student accommodation.
The international education sector contributes approximately $4 billion annual to Queensland’s economy, making it the state’s second largest services export and in Brisbane, its largest services export.