A rare opportunity to acquire a beautifully restored Purpose-Built Student Accommodation (PBSA) building on the fringe of Brisbane’s CBD has been presented to market. The 695-bed facility, nestled in the historic Lady Lamington Building and forming part of the dynamic Herston Quarter redevelopment, offers a unique investment opportunity for investors seeking an operational PBSA asset.
Redesigned by the award-winning architects, Nettletontribe and redeveloped by Australian Unity, the property located at 86 Bramston Terrace, Herston combines modern student living with a deep sense of history, offering a mix of single, loft-style, and shared rooms within the heritage-listed building, blending architectural charm with contemporary amenities. Recognised for its commitment to sustainability and preservation, the Lady Lamington Building holds a prestigious place in Brisbane's architectural legacy, earning an AIA Regional Commendation for Heritage Architecture in 2023.
Lady Lamington, also known as UniLodge Herston, is ideally located next to major educational institutions, including the University of Queensland’s Herston Campus - home to the Faculties of Medicine, Dentistry, and Public Health - and the Queensland University of Technology’s Kelvin Grove campus. UniLodge Herston is strategically positioned to serve the growing demand for student accommodation in Brisbane.
Conal Newland, Head of Operational Capital Markets at Savills Australia and New Zealand, said, "UniLodge Herston presents a compelling opportunity for investors. Its central location, historical significance, and modern facilities position it as a prime asset in Brisbane’s student accommodation market.
“The property’s proximity to two major universities ensures continued demand, and the property’s affordability angle, makes it an attractive option for investors looking for a secure, long-term income stream," Mr Newland said.