Mapletree Investments (“Mapletree” or “the Group”) has acquired a 1,398-square-metre land site along Wellington Street, Perth, Australia, where it plans to develop a premium 835-bed student housing asset. The acquisition marks Mapletree’s first entry into Australia’s student housing sector.
“Australia’s student housing sector has attracted robust investor interest due to its large student
population, limited supply and counter-cyclical features,” said Mr Matt Walker, Chief Executive
Officer, Student Housing, Mapletree. “In particular, Perth remains one of Australia’s most
undersupplied central business districts (CBD) for student accommodation despite being home
to many prestigious institutions. Our latest investment reflects the Group’s strategy to leverage
our real estate capabilities to deepen focus on student housing as a core sector. We are excited
about this scaling opportunity and look forward to delivering a top-tier asset that will greatly
appeal to both students and investors.”
Mr Matthew Liston, Executive Director in Alceon’s real estate team said: “We are thrilled to be
working with Mapletree, a leading institutional real estate investor, as it delivers its first student
housing project in Australia. With support from the City of Perth, the Alceon team worked quickly
to obtain the development approval for student housing. While Alceon will relinquish ownership
of the land, the team is pleased to remain involved as the project’s development manager and
will leverage our local expertise to oversee it through to delivery.”
Prime location with easy access to transportation nodes and universities
Situated in a major transportation hub in the CBD, the development will offer convenient access
to transportation nodes including the Perth Underground Station, Perth Airport and various city
bus services. It is also strategically located near the Edith Cowan University (ECU) (350 metres
away) and Curtin University Law School (900 metres away). Notably, Perth’s first city-based
campus ECU City Campus, located within a 3-minute walk from the development, is set to open
in 2026, drawing more students into the CBD. These factors, coupled with the City of Perth’s
ongoing CBD development plans in public transport, university expansions and urban renewal
projects are expected to support the growth in demand for CBD student accommodation, further
enhancing the development’s value.
Premier development with extensive amenities
Scheduled for completion by 2027, the premier student housing development will feature an
extensive array of quality amenities to optimise students’ living experience. These include an
open communal rooftop recreational area connected via a common lobby to outdoor lounge and terrace areas along with internal dining and game amenities with full-height external glazing maximizing city views and beyond. In addition, there are green spaces for studying and relaxation, as well as leisure facilities such as an on-site café, gym, music room and cinema to promote holistic development. The development will aim to achieve 5 Green Star rating, certified
under the Green Building Council of Australia’s v1 rating tool.
Since entering the student housing market in 2016, Mapletree has grown its portfolio to 79
properties with over 27,800 beds across the United States (US), the United Kingdom (UK),
Canada and Germany. Its previous student housing development projects included the 453-bed
Westwood Student Mews in Coventry, the UK, and the 513-bed The Chestnut at University City
in Philadelphia, the US.