One of world’s tallest purpose-built student accommodation towers has officially opened its doors
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One of world’s tallest purpose-built student accommodation towers has officially opened its doors
ABS data shows there are about 1000 international students arriving in Australia daily. It was the community and lively student life that attracted Sri Lankan student Jegath Krishnamurthy, 20, to Nettletontribe designed 480 Elizabeth Street Melbourne developed and owned by speciality investment manager Cedar Pacific.
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Cedar Pacific UnilodgeIt was the community and lively student life that attracted Sri Lankan student Jegath Krishnamurthy, 20, to 480 Elizabeth Street. The University of Melbourne Bachelor of Design student returned to Australia as soon as he could once the international borders re-opened last year, arriving on the second possible day. -
Cedar PacificUniLodge, will officially open its 51-storey tower at 480 Elizabeth Street, Melbourne developed and owned by speciality investment manager Cedar Pacific.
One of world’s tallest purpose-built student accommodation towers has officially opened its doors in the latest recovery milestone for the sector.
As new ABS data shows there are about 1000 international students arriving in Australia daily, the nation’s leading student accommodation operator, UniLodge, will officially open its 51-storey tower at 480 Elizabeth Street, Melbourne.
The building was developed and is owned by speciality investment manager Cedar Pacific.
Cedar Pacific Chief Executive Officer Bernie Armstrong said the new benchmark in urban student accommodation was highly sought after for its contemporary living in an ideal central location, easily accessible to RMIT University and The University of Melbourne.
“We believe firmly that the Australian student accommodation sector has strong long-term fundamentals, which are supported by the rapid rebound in occupancy since borders have re-opened and universities have returned to on-campus learning,” he said.
“High-quality, well-located and premium-amenity buildings that foster communities such as 480 Elizabeth Street will always be in demand from both international and local students. The combination of location, amenities and a residential community within the building create the value that our investors seek.”
The property will be operated by UniLodge, Australia and New Zealand’s largest student accommodation operator. It has more than 36,000 beds under management.
UniLodge Chief Executive Officer Tomas Johnsson said the building’s official opening signalled renewed optimism amid “an extraordinary rebound” in student numbers.
“The return of our vibrant student population to our cities is an extremely positive milestone in Australia’s post-pandemic recovery,” he said. “International students are not only fantastic future Australians with a good education and good earning capacity, they are a workforce keeping Australian businesses alive.”
In December 2021 there were 29,140 international student arrivals in Australia, compared to 150 in December 2020. From late November 2021 to February 2022, more than 56,000 international students arrived in Australia.
About four out of five residents of 480 Elizabeth Street are international students.
The 480 Elizabeth Street tower offers premium student living in world-class surrounds, designed by Nettletontribe architects. It has 909 rooms offering a variety of room types from studio apartments to seven-bedroom multi-share units. Most have ensuites, and some offer queen-sized beds.
Further, the 51st-floor state-of-the-art Sky Lounge features an entertainment area with kitchen and dining facilities, a music room with a grand piano, and expansive views over Docklands, Melbourne City and Port Phillip Bay.
It was the community and lively student life that attracted Sri Lankan student Jegath Krishnamurthy, 20, to 480 Elizabeth Street.
The University of Melbourne Bachelor of Design student returned to Australia as soon as he could once the international borders re-opened last year, arriving on the second possible day.
Mr Krishnamurthy started his degree in 2019, but went home amid the pandemic in 2020. This is his final year of undergraduate study.
“I really wanted to experience the student life and get the most out of it at the end of my degree,” he said. “The community is one of the best parts of student accommodation. It just makes the whole process of studying and living in a foreign country a really special experience.”
Find out more about 480 Elizabeth Street via link in below contact form.
