Synergy Construct Set to Build $110M Adelaide Student Accommodation
Image Source: The Urban Developer
GSA, student accomodation giants will push ahead with their plans for Synergy Construct to build their $110m student housing project in Adelaide.
The new city accommodation will be located opposite the University of Adelaide and The University of South Australia’s CBD campuses and will consist of 725 rooms spread across 35 storeys.
The project will go ahead, despite any concern that Australia’s international borders being closed will severely impact the number of international students in need of accommodation.
GSA Group chairman Nicholas Porter said that, “Australia continues to remain one of the strongest regions for prime student accommodation across mature and emerging markets, and the Australian portfolio is, therefore, well-positioned to deliver strong investor returns as a result of its first-mover advantage.”
According to The Urban Developer, Synergy Construct will aim to complete the project by 2022.
Synergy Construct is an Adelaide-based contractor with significant experience in building student accommodation.
In 2019, Synergy Construct built the 17-storey, Waymouth Street student accommodation in Adelaide which is now known as the state’s largest accommodation complex and valued at $90m according to Real Commercial.
In 2019, Synergy Construct finished the build of the Gray Street, Unilodge student accommodation in Adelaide which comprised 17 floors and 772 beds.
In June of this year, we reported that tenders had opened for IGLU student accommodation in West Melbourne where Hacer, Kane, Icon and Hansen Yuncken are expected to tender for the project.
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