Centurion invests $5.1m in Perth student accommodation development

Stirling Highway will offer 472 beds and is set for completion in 2027.

Centurion Corporation Limited acquired a 25% equity interest or a $5.1m (AU$6m) consideration in Stirling Highway, a 472-bed purpose-built student accommodation (PBSA) development in Perth, Western Australia.  

The investment, with a subscription of 6 million shares, was made through its subsidiary Centurion Overseas Investments Pte. Ltd., Centurion said in a bourse filing.

The remaining 75% is held by Centurion Properties Australia Investments Pty Ltd, it added.

The Stirling Highway PBSA development, located at 37-43 Stirling Highway, Nedlands, Perth, Australia, will offer 472 beds across 440 units, with construction targeted for completion by December 2027.

It will also represent Centurion’s entry into its fourth Australian city.

The accommodation is located near the University of Western Australia and the Queen Elizabeth II Medical Centre.

It will also feature study rooms, meeting spaces, a cafe, table tennis facilities, bicycle parking, and laundry facilities, amongst others.