An artist impression of Aurora Melbourne Central.
KUALA LUMPUR: Property developer UEM Sunrise Bhd has announced the settlement of the RM365.5mil (A$125mil) serviced apartment component at its Aurora Melbourne Central building with Scape Australia Management Pty Ltd.
Scape, Australia’s largest owner and operator of purpose-built student accommodation (PBSA), has purchased 252 serviced apartment units across ten floors, in addition to the ground floor retail area at Aurora Melbourne Central.
Scape is expected to bring its Aurora experience to the market in late January next year and the offering will be targeted at young adults including students, graduates, travellers and professionals, providing a premium serviced apartment and urban living offering.
UEM Sunrise managing director and CEO Anwar Syahrin Abdul Ajib said: “Scape’s high-quality accommodation offering will enhance the existing vibrant community that has flourished at Aurora Melbourne Central.
“Aurora Melbourne Central’s connectivity and convenience will provide Scape’s customers with a gateway to business, education, lifestyle and innovation in the heart of the Melbourne CBD, and we’re looking forward to seeing its ‘Aurora experience’ come to life next year.
“This significant settlement in challenging market conditions due to the global Covid-19 pandemic is a testament to the quality and unparalleled location of our Aurora Melbourne Central development,” said Anwar.
Scape managing director and CEO Stephen Gaitanos said the acquisition is a key part of Scape’s premium PBSA strategy, whilst enhancing further opportunity to introduce its offering to a wider community.
Aurora Melbourne Central is the Melbourne CBD’s tallest and most significant mixed-use tower, located in the heart of the city at 228 La Trobe Street.
Across 88-storeys, it comprises 959 residential apartments, 252 serviced apartments, office suites and signature retail with a total gross development value of approximately A$800mil. The development was completed in early 2020.
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