Heitman and Erben Announce Joint Acquisition for 1,146-Bed Student Housing Development in Perth CBD
Heitman and Erben, an Australian property development and investment firm, announced the joint acquisition of Lot 19 at Perth City Link from the Western Australia State Government. The site will be transformed into Western Australia's largest purpose-built student accommodation asset, with approved plans for a 19-storey property spanning over 37,000 square meters in the heart of Perth's central business district.
The acquisition marks Heitman's continued expansion within the Australian student housing sector. Heitman was an early entrant in the Australian PBSA market in 2018 with the development of Infinity Place—a 335-bed property located in Melbourne's Carlton district, adjacent to the University of Melbourne and RMIT—which it continues to own today.
Strategic Development in Growing Education Hub
The planned development will deliver 1,146 beds across more than 37,000 square meters of gross floor area in student accommodation and ground-floor retail offerings. The property is located next to the new Edith Cowan University City Campus, opening to students in 2026, and a short walk to North Metropolitan TAFE.
"Fueled by student demand, Perth is experiencing substantial growth in higher education campuses, which is transforming its city center into a major Australian and regional education hub," said Brad Fu, Managing Director and Head of Asia-Pacific Acquisitions for Heitman. "This development reinforces Heitman's long-term commitment to the Australian market, and we anticipate it becoming a focal point for the growing student community in Perth's CBD."
The site is situated atop Perth Railway Station and next to Perth Central Station, providing immediate access to Perth's largest transportation interchange as well as cultural, retail and entertainment amenities.
Partnership Combines Global and Local Expertise
"Perth City Link is one of Western Australia's most transformative urban redevelopment projects, reconnecting the CBD with Northbridge," said Luke Reinecke, Managing Director of Erben. "Erben has a long history of developing PBSA assets across Australia, and this partnership with Heitman brings a depth of global real estate experience that strengthens both the vision and execution of this development."
Sustainable Design and Amenities
Students will have access to an extensive suite of amenities, including communal kitchens, a fitness facility and study lounges, among others. The project is targeting a 5 Green Star rating and incorporates sustainable design elements such as energy-efficient building systems and a solar array.
Estimated completion is December 2027, with first student occupancy targeted for February 2028.