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.

LOCATION

Hobart, Tasmania

CLIENT

University of Tasmania

TOTAL VALUE

$75m

OUR ROLE

Project Sponsor

Design Manager

Construction Manager

Construction Equity Investor

Asset Manager

BUILDER

Hutchinson Builders

ARCHITECT

Nettletontribe

 

SERVICES CONTRACTOR

Programmed

FINANCIAL CLOSE

2019

COMPLETION DATE

2021

CONTRACT TERMS

Design, build, finance (DBF)

Melbourne

Level 44, Rialto Building
525 Collins Street 

Melbourne VIC 3000 

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Sydney  

Level 3 
10 Bond Street

Sydney NSW 2000

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