Multiplex Partners with Brookfield for State-of-the-Art Student Lodging in Carlton

Brookfield Student Housing Carlton Melbourne Multiplex
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In a groundbreaking development, global contractor Multiplex has secured the contract from Brookfield Asset Management to deliver its inaugural student housing project in Australia. This joint venture includes partnerships with Citiplan and Journal Student Living, marking a significant move into the Australian student accommodation sector.

The strategically located project, situated in Carlton opposite the University of Melbourne’s Parkville campus, boasts a prime position within walking distance of key Melbourne landmarks such as the CBD, Lygon Street, Queen Victoria Market, and Melbourne Central, making it an ideal location for students. The combined block boasts a favorable dual street frontage at the intersection of Bouverie and Grattan Streets.

^Multiplex are set to deliver Brookfields First Student Accomodation in Australia (Image: Brookfield)
^Multiplex are set to deliver Brookfields First Student Accomodation in Australia (Image: Brookfield)

Having participated in early contractor involvement, Multiplex worked in close collaboration with Brookfield, Citiplan, and Journal Student Living to influence the design, pricing, and construction methodology of the project. Ross Snowball, the Regional Managing Director at Multiplex, conveyed his excitement for the venture, remarking,

“This is a wonderful opportunity for us to leverage our robust credentials, successfully delivering residential apartment projects, and combine them with our specialist expertise in the education sector.”

The award-winning Jackson Clement Burrows Architects designed the 15-storey building, covering a total area of 13,632 square meters and featuring 464 beds along with three retail tenancies. Reflecting on the venture, Brookfield Head of Real Estate Investments for Australia, Ruban Kaneshamoorthy, highlighted the project’s appeal, stating,

“There are significant tailwinds for student accommodation in Australia. We see this as a highly favourable environment to develop sites, with international students returning to study and existing accommodation almost at capacity. The winning combination of location, amenity and design will make this site a highly sought-after space for students.”

^Journal Student Living are collaborators on the Student Housing Project in Carlton (Image: Brookfield)
^Journal Student Living are collaborators on the Student Housing Project in Carlton (Image: Brookfield)

Australia’s student accommodation sector, characterized by a shortage of supply, remains robust and tightly-held, with Melbourne identified as a hotspot for investors, according to Savills Australia, a leading commercial real estate agency. Future rental growth is anticipated, supported by strong occupancy levels, with international student visas now back at pre-COVID levels.

The planned development prioritizes the well-being of future student occupants, offering a range of amenities across various levels. Communal recreation spaces, including a gym, games room, laundry, kitchen, and dining area, will be housed in the basement, while the ground floor will feature an open entertainment area, lounge, and library. Cosy study areas will be distributed across the first, second, and third floors.

Journal Student Living, part of the collaborative venture, will provide additional support options and services for residents, fostering a community-focused living environment. The construction process will involve the partial demolition of the existing building at 166-170 Bouverie Street, preserving its heritage facade as part of the finished design. Other structures on the 1,327 square meter site will be demolished to make way for the new student lodging.

Anticipated completion of the project is set for Q2 2025, adding an exciting chapter to Australia’s evolving student accommodation landscape.

Note: The information presented in this article is for general informational purposes only and should not be relied upon as legal, financial, or professional advice. While we make every effort to fact-check and verify the information presented, we cannot guarantee its accuracy or completeness. Readers are encouraged to independently verify any information they find on our website and to consult with relevant professionals before making any decisions based on the information presented. The Australian Development Review does not own the rights to the information included within this article, and furthermore, there is no infringement intended from the included text and images within.

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