Centurion acquires 25% stake in second student accommodation in Perth for A$250,000

[SINGAPORE] Centurion Corporation on Wednesday (Jun 17) said it has acquired a 25 per cent equity interest in a purpose-built student accommodation (PBSA) development in Perth for A$250,000 (S$225,475).

The property at 55-57 Fairway, Crawley, is set to have around 182 studios.

It is also directly adjacent to the University of Western Australia’s Crawley campus, with shops and restaurants within walking distance as the Broadway Fair Shopping Centre is about 250 m away.

The site is currently under development and scheduled to be completed by the second quarter of 2027.

Upon completion, the property will operate under the group’s Epiisod student accommodation brand and be managed by Centurion.

The remaining 75 per cent share of the property is held by Centurion Properties Australia Investments, a wholly owned subsidiary of the group’s controlling shareholder.

This is Centurion’s second investment in the city, after buying a stake in a 472-bed Stirling Highway PBSA development last December.

Kong Chee Min, CEO of Centurion, said the development is part of the company’s expanding student accommodation pipeline, which is expected to deliver about 2,198 new beds progressively between 2027 and 2028.

Centurion noted that Australia’s PBSA sector is supported by “strong fundamentals”, with student demand continuing to outpace supply.

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The company’s shares ended Wednesday 1.3 per cent or S$0.002 higher at S$1.51, before the news.