SINGAPORE (Nov 28): Developer Wee Hur Holdings announced that its Australian-focused purpose-built student accommodation (PBSA) trust, Wee Hur PBSA Master Trust, has acquired a 1,038 sqm property in Melbourne, Australia, for A$35 million ($35.8 million).

In a Tuesday announcement, the group says it intends to develop its third PBSA on the freehold land, which is located at 183-189 A’Beckett Street and is an estimated 10-minute walk from both University of Melbourne (Melbourne U) and Royal Melbourne Institute of Technology (RMIT).

Approximately 900 beds will be built, and will bring the total number of PBSA beds in the pipeline under the Wee Hur PBSA Master Trust to 3,250.

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