Campus Edge Petrie , 3-5 Mill Street, Petrie, QLD, 4502 - UniSC University PDA

CAMPUS EDGE PETRIE  ·  3–7 MILL STREET, PETRIE

A DA-approved, 1,234m2 development site adjoining the UniSC Moreton Bay campus, with an active repositioning pathway toward a dedicated purpose-built student accommodation (PBSA) tower of between 372 and 558 rooms.

Campus Edge offers an incoming developer or PBSA capital partner a rare combination: an existing development approval in hand, a deep and structurally undersupplied student housing market at the door, and a clear, architect-tested pathway to scale the scheme into a single-use, single-owner PBSA asset.

The Opportunity

The site holds a current development approval for a 12-storey mixed-use building of 113 dwellings. Preparations are now being made to discuss amendments to the current DA to support height scheme and floor-plate changes that lift the building to a dedicated PBSA configuration of between 372 and 558 student rooms.

Schematic design prepared by the project architect sets out two repositioning options on the approved footprint:

• A 13-level scheme delivering 372 student rooms, positioned by the architect as a potential minor change to the existing approval, with no significant height increase.
• A 19-level scheme delivering 558 student rooms, a higher-density option that has been the subject of preliminary discussion with the assessment authority on a supportive basis.

Each residential floor is configured as 31 single-occupancy units, split between ensuited rooms and dry rooms sharing high-quality communal bathrooms, kitchens and living areas, the typology that institutional PBSA operators favour for occupancy resilience and operating efficiency.

Post-Cap Earning Potential

The investment case rests on stabilised income. On current market-derived rents for the Moreton Bay catchment, the schemes generate the following indicative stabilised net operating income:

Scheme Rooms Indicative Stabilised NOI13-level372Circa $4.4M per annum19-level558Circa $6.6M per annum

Capitalised on institutional PBSA yields, the larger scheme supports a substantial end value, with further yield compression available where a university nomination or head-lease covenant can be secured. A detailed post-cap model and development feasibility are available to qualified parties under confidentiality.

Why This Location

• Adjoining UniSC Moreton Bay. The campus is roughly 400m away and is targeting growth from current enrolments toward 10,000 students by 2035, a demand pipeline directly on the doorstep.
• Transport. Petrie railway station sits approximately 220m from the site, on the Brisbane CBD line.
• Olympic anchor. The confirmed $205.5M Moreton Bay Indoor Sports Centre, a 2032 Olympic boxing venue, is approximately 400m away.
• Everyday amenity. Woolworths and the wider town centre are within a short walk, well inside the 800m walkability standard institutional PBSA investors apply.
• Undersupplied market. Australian PBSA provision sits far below comparable global markets, with demand materially outpacing the delivery pipeline, underpinning rental growth and occupancy.

Delivery and Construction

A Tier 2 Australian builder has provided an indicative construction submission dated 14 April 2026, available to qualified parties under NDA. Geotechnical investigation has been completed for the site and is available within the data room.

Method of Sale

For sale by Expressions of Interest. Price on application. Detailed financial modelling, development feasibility, the schematic design set, and supporting due diligence material are available to qualified parties on execution of a confidentiality agreement.

EXCLUSIVELY OFFERED BY

Tim Fowler  ·  Principal  ·  VENDOR® Strategic Projects  · 

+61 406 1182292 

[email protected]