Atira Student Living will open its third purpose built accommodation facility in Brisbane in early 2018, addressing an undersupply of student beds nation-wide.
Under construction at Glen Road, Toowong, the complex comprising 512 student beds follows the February 2017 opening of Atira Southbank (825 beds) and the July 2016 launch of Atira Woolloongabba (309 beds).
Atira Glen Road is an important milestone for the company in the implementation of its strategy to become the market leader in delivering purpose-built student accommodation for international and domestic clients.
Atira forecasts that a significant demand gap for purpose built student accommodation will continue to remain within Australia over the next five years, with a shortfall of 430,458 student beds in NSW; 380,990 in Victoria; 242,814 in Queensland, 140,452 in WA, 96,669 in South Australia; 32,269 in Tasmania and 11,938 in the Northern Territory.
In addition to its strong Brisbane presence, Atira has a further 4,000 beds in the development pipeline covering Melbourne and Adelaide. It aims to deliver 10,000 purpose built student beds in premium inner city locations in Australia and New Zealand over the next five years.