This article is from the Australian Property Journal archive
PURPOSE-built student accommodation group Scape has struck an agreement with RMIT Training that will see the RMIT University-owned company lease Scape’s 10,000 sqm Melbourne city building – in an Australia first between a university and a PBSA provider.
Scape, Australia’s largest owner and operator of PBSA, and RMIT Training, which offers English language and Foundation Studies pathways, will share the existing $500 million Scape Franklin building on Franklin Street to combine student accommodation and education facilities.
The agreement sees RMIT Training leasing the 10,000 sqm building from Scape on a 15-year term, with Scape developing the levels to RMIT Training’s requirements, including co-working spaces, art studios, wet labs and student well-being lounges.
Around 30% of all international students at RMIT have progressed through RMIT Training.
“We are thrilled to work closely with RMIT Training to co-create this new environment. PBSA provides a more wholistic living environment for students so the more opportunities we can co-create with education partners to support their students to succeed while they’re studying, the better,” said Scape Australia’s founder and managing director, Stephen Gaitanos.
He said the new campus would be particularly suited to international students enrolled in pathway courses in fields ranging from architecture and design to health and psychology.
RMIT Training CEO, Jake Heinrich said the new campus location would provide a one-of-a-kind offering for students in Melbourne by housing industry-leading learning and student accommodation facilities in one secure location.
Scape acquired the 2,000 sqm site at 97-99 Franklin Street 2016, in a period of rapid sales and development activity around Melbourne CBD’s education precinct. It has since developed Scape Franklin, a mixed-use venture comprising 940 student beds across a mix of shared apartments and studios of various sizes. Communal space includes study areas, lounges, a cinema, gaming rooms, terraces and barbecue areas.
The campus also houses three retail spaces at ground level, including a café, Frankie’s Coffee, and Scape is targeting other food and beverage operators for the remaining tenancies.
The new RMIT Training campus is set to open in late August.
