Student accommodation agreement for Melbourne Connect
The University of Melbourne has entered into a student accommodation concession agreement with AMP Capital for the Melbourne Connect precinct.
The 42-year concession includes responsibility for facilities management of the 527-bed accommodation facility at Melbourne Connect, which will be ready for the start of first semester, 2021.
The University will retain ownership and operational responsibility, including all student-related activities such as student wellbeing and residential life programs.
The facility will be the first dedicated postgraduate residential community to be developed by the University and will include live-in opportunities for visiting and academic fellows.
Melbourne Connect is being built on the site of the old Royal Women’s Hospital on the corner of Grattan Street and Swanston Street in Carlton.
Due for completion at the end of 2020, Melbourne Connect will be a world-class, purpose-built innovation precinct, connecting industry, government and leading academics and researchers. The student accommodation facility within the precinct was recently re-acquired by the University.
In addition to student accommodation, Melbourne Connect will feature 40,000 square metres of space for the Melbourne School of Engineering, industry partners, retail, childcare and a shared meeting and events space. The Melbourne Entrepreneurial Centre and Science Gallery Melbourne will also be co-located in the precinct.
University of Melbourne Vice President (Administration & Finance) and Chief Operating Officer Allan Tait said the University welcomed the opportunity to expand the concession agreement with AMP Capital to Melbourne Connect, which will enable the University to continue to provide world-class student accommodation.
“Melbourne Connect will be a world-leading innovation precinct and the student accommodation will match that ambition," Mr Tait said.
"It will have the highest quality facilities and amenities, giving postgraduate students the best opportunity to thrive while they pursue their academic and research interests.”
In November 2018, the University entered into a 40-year student accommodation agreement with AMP Capital for two residences – 303 Royal Parade and “Little Hall”. The agreement was the first student accommodation transaction of its kind by the University.
Melbourne Connect is being delivered in partnership with a consortium led by Lendlease (developer, builder, co-investor and investment manager of the commercial space), which includes GIC (major co-investor of the commercial space) and Spotless (facilities manager).
For more information about Melbourne Connect visit https://melbconnect.com.au/