Hong Kong-based real estate private equity firm Gaw Capital Partners has purchased an office building in Perth, Australia, with the aim to convert the building into student dormitories, the firm announced today without disclosing financial details.
The Telstra Building on Stirling Street is located near Perth's central business district. The eight-story office property with 20,000 square meters has nearby access to a variety of public transport and lifestyle options.
Gaw Capital plans to convert the building into student accommodation for over 500 students. The project could be the first of numerous conversions of older style office buildings into alternative uses, the firm said.
By the end of 2020, Australia’s under supply of student accommodatio...
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