Australia’s 5 Biggest Student Living Projects Under Way

Sentiment among policymakers and stakeholders across the growth of purpose built student accommodation is strengthening, according to Knight Frank. The asset class is increasingly being recognised for its role in supporting the growing student population while mitigating pressure on rental demand. Knight Frank data points to a strong transaction market of $1.8 billion in transactions in 2025 to date—and private developers are stepping into the fray. The sector has also recorded strong rental growth. Since 2018 there has been average rental growth of 50 per cent across Sydney, 38 per cent in Melbourne, 36 per cent in Adelaide and 28 per cent in Brisbane for studio apartments in PBSA developments. The Urban Developer can reveal the 5 biggest PBSA projects (in value) under construction in 2025. This list was compiled using data from BCI Central and The Urban Developer . UQ—Student Residences Project 2 The University of Queensland’s Property and Facilities Division has begun construction of a student accommodation project at the St Lucia campus. Designed by Nettletontribe, the development will deliver 1018 beds across three buildings on a 2030sq m site. Name: University of Queensland—Student Residences Project 2 Address: 280-284 Sir Fred Schonell Drive, St Lucia State: Queensland Value: $263.22 million Developer: UQ—Property &amp; Facilities Division Architect: Nettletontribe Site Area: 2030 square metres Storeys: 9 Number of buildings: 3 Accommodation: 1018 beds Journal Garden Place Journal Garden Place, a $192.56-million development designed by Cox Architecture, is now under construction. The project will deliver 952 student beds across 31 storeys on a 1720sq m site. Name: Journal Garden Place Address: 240 Margaret Street, Brisbane State: Queensland Value: $192.56 million Developer: Citiplan Property, Brookfield Asset Management, Journal Student Living Architect: Cox Architecture Site Area: 0.172ha Storeys: 31 Number of buildings: 1 Accommodation: 588 units (952 beds) 41 George Street Marquette Properties has begun the conversion of an office building into a purpose-built student accommodation tower. The developer acquired the building at a 25 per cent discount to its previous trading price. Designed by Nettletontribe, the 27-storey development will house 1029 student rooms in the heart of Brisbane’s CBD. Name: 41 George St Address: 41 George St, Brisbane State: Queensland Value: $191.74 million Developer: Marquette Properties, Dexus Property Group Architect: Nettletontribe Site area: 2810 square metres Storeys: 27 Number of buildings: 1 Accommodation: 1029 rooms Exal’s PBSA project at Waterford Exal Property Group has begun a $150-million student accommodation project at Waterford in WA. Spanning 7250sq m and spread across three buildings, the development will deliver 916 beds. Name: Curtin Central—Student Accommodation Waterford Address: 1 McKay St, Waterford State: Western Australia Value: $150 million Developer: Exal Property Group Architect: DKO Architecture Site Area: 7250 square metres Storeys: 8 Number of buildings: 3 Accommodation: 916 beds UniLodge Perth Central Australian Unity, in partnership with UniLodge, Sirona Urban and MaxCap Group, is developing a $150-million student accommodation project designed by Hayball. Located on a 1400sq m site, the single 30-storey tower will deliver 732 student units. Name: UniLodge Perth Central Address: 335 Wellington Street Perth State: Western Australia Value: $150 million Developer: Australian Unity, UniLodge, Sirona Urban, MaxCap Group Architect: Hayball Site Area: 1400 square metres Storeys: 30 Number of buildings: 1 Accommodation: 732 units * This list was compiled with data sourced from BCI Central.

Australia’s 5 Biggest Student Living Projects Under Way

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