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Student accommodation developers zone in on Burwood

Property Markets / Transactions

Australia / Melbourne

Apr 14 2018

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A Chinese developer has purchased a 2,122sqm block of land opposite Deakin University’s Burwood campus in Melbourne’s east, with a vision to introduce more student housing to the suburb.

Savills Australia’s Benson Zhou, Julian Heatherich and Jesse Radisich brokered the deal for 254-258 Burwood Highway at a rate of $3,063 per sqm on behalf of another Chinese developer.

“We received more than 150 enquiries and local demand is high due to the prime location,” Mr Zhou said.

“Student accommodation developers are positive on the future expansion opportunities for Deakin and surrounding elite schools, such as the Presbyterian Ladies’ College.”

Mr Zhou said demand for residential apartments in general was still high in Melbourne’s eastern suburbs.

“Developers are looking for owner-occupier projects with larger internal spaces located close to quality amenities, particularly education facilities,” he said

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