Australian student accommodation PPP changes hands

AMP acquires Melbourne Connect concession

AMP Capital has acquired Melbourne Connect student accommodation concession at the University of Melbourne from operator Urbanest, which was appointed first to operate the dorms. 

As a result of the acquisition, AMP Capital has taken the place of a Lendlease-led consortium.

The concession, expected to open in 2021, is for a period of 42 years and requires facility management of the 527 bed Carlton postgraduate housing. 

ADIT portfolio manager Brad Williams said: “This post-graduate facility will complement our existing undergraduate-focussed facilities and provide investors with a CPI-linked revenue stream that is backed by strong demand for on-campus student accommodation from interstate and international students.”