Our Student Model

The student housing sector is reaching a crisis point with housing insecurity and homelessness on the rise

Australasia is witnessing a rapid return of international students.
Over 386,000 students arrived onshore in 2022 with only c. 80,000 student beds available.
Upcoming supply pipeline is muted compared to the previous five year average.
Universities are becoming increasingly concerned about the undersupply and are looking for on-campus solutions.
Growth in student population with figures exceeding 2 million full time students is placing significant pressure on existing supply.
Student-to-bed ratio is now exceeding 3.5 and is expected to worsen due to limited new supply in the pipeline.
Rising demand has led to record occupancy levels with robust rental growth observed.
Estimated 400,000+ students lack stable places to sleep with a growing population of students report being homeless at some point during the academic year.
State Assembly has proposed State Legislation - the Student Housing Crisis Act of 2023 - to ease barriers to construction near campuses.

No land cost and minimal civil works will drastically reduce capital requirements.
Our faster delivery speed ensures we can generate rental income substantially faster than existing solutions.
By being located on-campus, we benefit from certainty over occupation with students preferring to live closer to the university.

We structure long-dated secured fixed income products to fund all delivery costs efficiently.
We partner with established operators and obtain insurance from AAA-rated counterparties to underwrite the income over the agreed tenure.
Our proprietary delivery solution enables us to deliver faster and cheaper, especially when on-campus, providing quality assets generating yield levels superior to market benchmarks.