One of Adelaide’s tallest towers has opened on North Tce. The $110m building is all accommodation – and designed to meet the needs of a specific market.
A $110m student accommodation tower – one of Adelaide’s tallest buildings – has officially opened, as international students slowly return to the state.
The Yugo Adelaide City building can accommodate 725 students, including a mix of locals and those hailing from overseas.
The operators of the development, on the corner of North Tce and Frome St, said 90 per cent of the students taking up places had arrived from other countries.
Study Adelaide figures show that Adelaide had 30,656 international students last month – 25,210 studying onshore and 5446 offshore.
That compares with a total of 44,000 international students before Covid-19 hit.
Yugo is the operating partner of Global Student Accommodation, whose development director Travis Harkness said the project was the company’s fifth Australian student housing property, following other complexes in Perth and Melbourne.
“Globally, student housing has proven to be a resilient sector throughout the turbulence of the past few years, underpinned by continuing growing demand for higher education globally and a strong preference for in-person learning,” he said.
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