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25th Sep 2018
Scape Student Living is looking to build what is being described as the world's tallest student accommodation block.
Located in Melbourne, the purpose-built student accommodation consists of a 60-storey tower overlooking RMIT University.
If approved the project will cost over $300 million and will be able to accommodate 740 students, in addition to 146 'city living' units.
Included in the plans is a small retail space area, along with more than 11,500 square metres of commercial space, which might also include some academic use.
A proportion of the commercial space will be put towards setting up a business-to-student incubator, similar to the one Scape has created at its Shoreditch accommodation in London.
Commenting on the application, Craig Carracher, who co-founded the Scape platform in Australia, said: "It is the largest development that we've undertaken globally and it will be, when it's built, the tallest student accommodation in the world."
The proposed scheme is located on a 2,000-square-metre site at 97 Franklin Street, which Scape snapped up for $56 million late last year. The sites previous owner already had plans approved for a 62-storey tower.
The project is just one of several developments included in the company's plan to create a $1 billion portfolio in Melbourne's inner-city university precinct.
Located nearby on Swanston Street, the company has submitted plans to build a 30-storey student block with a total of 870 student beds.
Meanwhile, also on Swanston Street, overlooking RMIT, Scape's first student accommodation block in Melbourne is quickly taking shape and will consist of 780 student beds.
Scape already operates several student accommodation sites in the UK and has backing from global investors Bouwinvest, APG and ICBCI International, with plans to build further student accommodation in Sydney and Brisbane.
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