UTAS2 Purpose Built Student Accommodation
40 Melville Street, Hobart, Tasmania
Following on from the initial University of Tasmania PBSA transaction, Tetris Capital has been mandated to manage the design, construction, financing and ongoing asset management of the next stage of student accommodation for the University of Tasmania. The project involves 422 beds of accommodation as well as additional university areas to support UTAS’ growing presence in the Hobart CBD.
Construction of the new facility will be undertaken by Hutchinson Builders that were selected following a tender process ran by Tetris Capital. Completion is scheduled for Semester 1, 2021. At Commercial Acceptance the asset will be acquired by DIF Capital Partners and Programmed will be responsible for the long term maintenance of the project.
Acting as developer, Tetris Capital is currently overseeing construction of the new facility which has commenced, is ahead of schedule, forecast to be completed for semester 1 2021. Tetris Capital will remain involved with the project throughout the concession period as asset manager for the ~2,200 bed portfolio.
University of Tasmania
Construction Equity Investor
Design, build, finance (DBF)