24-level student accommodation tower for Perth CBD

Stirling Capital has moved a step closer to cashing in on WA’s ballooning $1.35 billion international education industry, striking a deal with global student accommodation provider GSA Capital to deliver a 24-level, 571-bed student tower in the centre of Perth.

Construction of the $41 million Stirling Street, Northbridge, tower, to rival offerings in Eastern States capitals, is scheduled to start early next year ready for the 2019 academic year.

Perth has five universities, Murdoch, Notre Dame, Edith Cowan, Curtin and University of WA and despite its advantages — shared time zone and proximity to Asia — has been losing international student market share, with lack of central student accommodation options cited as one of the reasons. GSA Group’s boast is that it provides communities for higher education students in the best real estate and university markets. It has built 50,000 “study bedrooms” and raised more than $3 billion in funding from institutional investors globally.

Stirling Capital managing director Luke Reinecke said the developer was confident with GSA’s track record the project would deliver “a world-class operating experience”.

“Quality student accommodation is essential to putting Perth on the map as an affordable and accessible education destination,” Mr Reinecke said.

The Stirling Street tower will have self-contained studios and shared apartments with communal study areas, a 15m lap pool, a gym, a library and a rooftop outdoor space with a cinema and a bar.