This article is from the Australian Property Journal archive
A student accommodation complex in Canberra’s City West is on the market.
Academie House comprises a 90-bed student accommodation facility at 34 Marcus Clark Street, and a 634 sq m boutique office building at 3 Hobart Place.
The asset at Marcus Clark Street is anchored by Uni Lodge and includes retail space on the ground floor. Meanwhile, the office space is fully leased to Adero Law firm.
Originally constructed in 1966 as an office building, it was repurposed to student housing in the early 2000s. It currently holds CZ1 zoning allowing for redevelopment potential.
Located near ANU, the 900 sq m complex generates over $1.1m.
JLL’s Tim Mutton, Mitch Frail and Jack Bergin are managing the expressions of interest campaign.
The EOI campaign closes on April 10.
“For investors, the opportunity here is twofold: secure immediate income from a fully leased asset or reposition it to capitalise on the city’s ongoing transformation,” said Frail.
“With infrastructure investment through Light Rail stage 2A, the expansion of ANU, and strong market fundamentals, this is an exceptional opportunity to be part of Canberra’s next wave of growth.”