This article is from the Australian Property Journal archive
GLOBAL student accommodation provider GSA has hit the ground running, making its first Australian acquisition, paying $21 million for Campus Estates and a development at Carlton in Melbourne.
GSA re-entered Australia recently, citing significant growth potential in the market and set a goal to have 25,000 student beds.
Yesterday the company got the ball rolling, with the $21 million acquisition of Campus Estates. The deal includes the acquisition of a prime 350-bed student accommodation development in Carlton, Melbourne and other pipeline projects on completion.
As part of the agreement, Campus Estates founder Jon Whittle will join GSA as head of real estate for Australia. Whittle has nearly 20 years of experience and has been developing student accommodation in Australia for over five years.
“We are delighted with the acquisition as it will fast-track our re-emergence into the student market and Jon and Craig’s experience will be invaluable in helping us grow the business across Australia and New Zealand,” GSA Group Asia Pacific managing director Simon Loveridge.
GSA also bolstered its management team in Australia with the appointment of Craig Oliver, who joins as commercial director. He has more than 10 years of experience in operations in the higher education sector and joins GSA from Macquarie University, where he was CEO of the university’s commercial and student life entity.
Oliver will be responsible for university relations, property operations, branding, sales and marketing.
Whittle said he is excited to be part of a company that is focused on being the leading provider of student accommodation in the region.
“GSA represents the pinnacle of student hospitality across the world and to be leading the real estate business represents an enormous opportunity, focusing on driving new pipeline across the Australian market. I am really excited,” he added.
“I am excited by the opportunity to be a part of an organisation with a true vision to be a global leader in student accommodation and to make a difference to students’ lives. We have the opportunity to deliver a level of student accommodation above and beyond anything that currently exists within the Australian market. I am excited to align my experience in Australia with GSA’s global track record.” Oliver said.
Australian Property Journal
