Scape Adds Inner-Sydney Site to $6bn Housing Push

Scape is moving to fill a 30,000-bed gap in Sydney’s student housing market, buying a key inner-city site backed by capital from a $6-billion national property fund.

The national purpose-built student accommodation (PBSA) provider has acquired a 1922sq m parcel at Waterloo for $32 million, adding to a portfolio supported by global investors including CBRE Investment Management, APG, Bouwinvest, CDPQ, NPS and UBS.

A development application is due later this year for a mixed-use project combining student accommodation with ground-floor retail.