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 Chief Executive Office, Andrea Slingsby, said the Toowong project was 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.
She said it would help address the significant undersupply in student accommodation being felt in major cities around Australia.
“We have a situation where education enrollment growth is forecast to reach 1,822,000 by 2021, with just a little over 100,000 purpose-built student beds existing or in the pipeline for the same period,’’ Ms Slingsby said.
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.
“Atira is meeting the needs of students seeking education in one of Australia’s most desirable cities, with a particular focus on catering to the specific needs of international students,’’ Ms Slingsby said.
“Australia is attracting more than 300,000 international students every year, representing a major opportunity for delivering our unique services.
“The accommodation needs of international students are quite different to those of domestic students.
“Safety, security, location and ability to find ready-made friends through an engaging student experience are crucial. Many feel that these needs are not adequately covered either by existing colleges, the private rental market or homestays,’’ Ms Slingsby said.
Ms Slingsby said Atira model focussed on nurturing academic success through the provision of home-like support and connection.
“Recognising that academic success is enhanced when we create a meaningful sense of comfort, connection and belonging culminates in a superior overall experience for our students,’’ she said.
Atira Toowong is expected to be completed by September 2017, in time for a first-semester opening in February 2018. It will feature state of the art student facilities including multi-level car stacker facility.