A private sector consortium, led by InfraRed Capital Partners, has entered into a 35-year partnership with Curtin University in Australia to design, finance, construct and operate the new developments located in the heart of Curtin’s Perth Campus, which have a total capital value of A$300 million ($207 million). InfraRed Capital Partners is the principal equity investor in the project.
“This new precinct will be integral in encouraging more international students to come and study at Curtin University. My government looks forward to continuing to work with the education sector on important projects, such as the new innovation hub, to encourage more international students to Western Australia, create local jobs and diversify the economy,” said Mark McGowan, premier of Western Australia.
The new developments include about 1,000 new student accommodation beds operated by St Catherine’s College and UniLodge Australia, a 60-room boutique hotel operated by Waldorf Australia Group, 38 apartments (one-, two- and three-bedroom), 3,000 square meters (32,000 square feet) of commercial space, and 15 specialty retail shops including a grocery store and food and beverage outlets. Programmed Facility Management will provide asset management services.
Construction will start in August 2019, with the first stage of the Exchange development set to officially open in January 2022.