The Perth-based developer plans to acquire 18 to 28 Telethon Avenue in Perth from Seven Group Holdings subsidiary Seven Entertainment for an undisclosed sum.
Sirona has revealed it plans to build an 800-bed student housing tower on the 3,334 square meter Kings Sqaure site.
It has also revised its plans for its Point Street project in Fremantle, from 215 apartments to a 392-bed purpose-built student housing project (PBSA).
The moves follow the developer’s recent completion of its $150 million, 736-bed, 30-storey student housing project on Wellington Street in Perth.
Sirona Urban director Matthew McNeilly said the two new projects would help meet a growing need for more student beds in Western Australia.
“Perth is facing a shortage of purpose-built student housing, with current supply meeting less than 10 per cent of demand according to recent Urbis data,” he said.
“These projects in the Perth CBD and Fremantle allow us to transition smoothly from our recently completed UniLodge Perth Central… to the development of our second and third premium student housing facilities.”
Mr McNeilly added that the Perth project would contribute to the development of the $5.2 billion Perth City Link, designed to connect Northbridge to the CBD.
Sirona Urban’s plans for Perth City Link. Image: MJA Studio
He added that the location of the site made it ideal for both student housing and new developments.
“[It] offers excellent connectivity to the new ECU city campus and the Perth Busport… and is close to the RAC Arena and the city’s entertainment areas, making it ideal for rental properties,” he said.
The Telethon Avenue site was approved in 2015 for a project with two towers of 48 and 42 floors, consisting of 563 apartments.
The property, known as KS6, was put on the market in early 2023.
Research from the Property Council of Australia shows that Perth has the lowest ratio of PBSA beds to international student numbers among major Australian cities.
Mr McNeilly added that each international student adds approximately $43,000 to the state’s economy annually.
Sirona Urban also has a long history in Fremantle and was behind the $270 million FOMO office and retail precinct in Walyalup Koort.
It won approval to build a $100 million apartment project at 8 Point Street in Fremantle in late 2023, after SKS Group’s plans to build a hotel on the site fell through.
Sirona plans to bring 392 student beds to Point Street in Fremantle. Image: MJA Studio
Mr McNeilly said he had made the call for the proposal to be changed in light of changing demand.
“We have reimagined our original plans for our Point Street site to address the shortage of purpose-built student accommodation and to introduce the first modern, large-scale high-quality PBSA facility in Fremantle,” he said.
The Fremantle project, which is estimated to cost $55 million to build, will include shared desks, fitness facilities, a cinema and communal entertainment areas.
MJA Studio designed both projects and development applications will be submitted next week.
The proposals come as Edith Cowan University’s city campus in Perth nears completion, with 10,000 staff and students expected to come to Perth from early next year.
ECU’s Perth campus has led to a significant increase in the number of student beds developers are looking to bring to the state, with more than 6,000 student beds in the pipeline.
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