UC-Campus West offers a range of accommodation across 207 apartments. Photos: Colliers.
A student accommodation provider is selling its 1334-bed, 12.8-hectare village at the University of Canberra.
UC-Campus West consists of six accommodation complexes offering 207 apartments along with common areas for kitchen and bathroom amenities, lounge spaces, and various indoor and outdoor recreational facilities.
The site also includes an administration building, post boxes, a retail shop leased to Domino’s, a laundrette and 443 open car parks, all situated within the grounds of the University of Canberra.
UC-Campus West is currently owned by KMSAC Pty Limited and operated by UniLodge Australia Pty Limited (UniLodge) under a 30-year concession agreement, which was acquired from the University of Canberra in January 2008 and expires on 24 January 2038.
Colliers Head of Capital Markets & Investment Services ACT, Matthew Winter, said this was an outstanding opportunity to acquire an interest in a student residences project.
“Demand for student accommodation outstrips supply, and the sale of UC-Campus West offers a rare chance to secure one of the only ready-made student accommodation concessional agreements in the market,” Mr Winter said.
The village includes a store, pizza takeaway and laundrette.
Mr Winter said there was no particular reason for the sale, but there was a significant global appetite for Purpose-Built Student Accommodation (PBSA) assets, and there had been limited opportunities to acquire them, particularly within the ACT.
He said there had been strong enquiries from the buyer pool, with feedback from interested parties ranging from $15 million to $30 million, depending on their investment metrics.
“We anticipate interest from local, domestic and potentially international capital sources who typically invest in PBSA assets, as well as owner-operators,” Mr Winter said.
“Lastly, there may be interest from private investors/syndicates seeking a cashflow style opportunity.”
Colliers Executive, Investment Services and Office Leasing, Bella Kanellopoulos, said UC-Campus West is positioned to maintain high occupancy rates, ensuring steady rental income.
“The village is situated within the University of Canberra and offers a variety of room types to cater for different student preferences and budgets,” she said.
Ms Kanellopoulos said UniLodge was a trusted leader in student accommodation, ensuring high operational standards.
Surrounded by bushland and a short walk from the natural beauty of Lake Ginninderra, UC-Campus West was conveniently located within walking distance of Belconnen Town Centre, offering easy access to shopping centres, cafes and public transport, she said.
The sale is being pitched as a chance to secure one of the only ready-made student accommodation concessional agreements in the market.
According to company documents, KAMSAC’s directors are Scott Bradley Kershaw and Michael Murray Butler, both of Sydney.
UC-Campus West is being offered for sale by Expression of Interest until Tuesday, 19 November.
Loading ...
