妹团视频

August 5, 2021

妹团视频 to consolidate student accommodation in residences on campus

Surplus real estate sale to benefit students & local economy

The 妹团视频 (妹团视频) will consolidate student accommodation from 2022 and release surplus assets onto the region鈥檚 buoyant property market in a move certain to benefit the local economy while strengthening the University鈥檚 capacity to continue to respond to the financial challenges posed by the COVID-19 pandemic.

妹团视频鈥檚 International House, Weerona College and Marketview residences will be offered for sale commencing mid-August with the transaction expected to be completed by early 2022.

The decision to sell the properties was made by the 妹团视频 Council after assessing the University's strategic priorities.

Proceeds from the sales will be used to support UOW鈥檚 financial sustainability, enabling the university to maintain the capacity of its core teaching and research programs and to help strengthen support for students through enhanced services and technologies.

Of the three properties, International House and Weerona College have not operated as student residences since late last year when COVID-19 travel restrictions prevented the return of international students, forcing their closure. Consequently, there are no current residents in these buildings to be directly impacted by their sale.

Marketview, which has continued to operate with a lower occupancy rate during 2021 compared to previous years, will close only after current residents鈥� tenancy contracts expire in January 2022.

There will be no job losses in 妹团视频鈥檚 Accommodation Services as a result of the sale, with affected staff being redeployed to other residences.

妹团视频 Chief Operating Officer, Damien Israel, said the sales were a financial decision in response to COVID-19 that will benefit students, the University and the community, without directly impacting on any students鈥� current accommodation arrangements.

鈥淪ince the pandemic began, the University has acted decisively by reassessing our priorities, reducing operational costs, increasing our digital operations and tightening our expenditure controls. These measures, together with the efforts and sacrifices of staff, have enabled 妹团视频 to make positive progress towards recovering from the challenges of COVID-19.

鈥淲e value the long history of Weerona College and International House as part of the 妹团视频 community but the dramatic changes in the higher education landscape have been reflected in our occupancy rates, which has prompted this decision.

鈥淐onsolidating our student residences into on campus buildings at the Wollongong and Innovation campuses where we have plenty of capacity for our foreseeable accommodation needs creates a stronger sense of community and connectedness that enhances students鈥� living experience. It also reduces demand on parking and public transport by alleviating the need for students to transit to and from campus to attend classes or use facilities.

鈥淲e will ensure current Marketview residents can see out their existing tenancy contracts without any disruption before the facility closes and we will offer them assistance to move into one of our on campus residences or to find alternative accommodation.

鈥淎s well as supporting the University鈥檚 overall financial position, these sales will also enable continued investment in our teaching, learning and research capacity, one of our key objectives since the pandemic began.

鈥淲ith sufficient capacity available in our on campuses residences to meet foreseeable demand, it makes sense to release these prime real estate assets onto the local market so new owners can put them to good use when there is a growing demand for well-located housing, hotel accommodation and community facilities.

鈥淥nce acquired by new owners, these properties have potential to yield significant benefits for the local economy and community,鈥� Mr Israel said.

Significant potential and strong demand anticipated

The Marketview building, which operated as a hotel before being acquired by 妹团视频 in 2011, could attract interest from hotel operators interested in providing much-needed capacity close to Wollongong鈥檚 CBD and beaches.

International House, located on a 1 Hectare site in a popular residential area adjacent to North Wollongong Railway Station, offers considerable potential for a range of housing uses.

As Weerona College is surrounded by the Beaton Park sports complex and conveniently located between the CBD, West Wollongong and Gwynneville Village, it also offers significant potential for a range of uses.

The University has engaged Knight Frank agents Ben Mostyn, James Mulcair and Tim Holtsbaum to market the properties for sale via an international expressions of interest campaign.

Mr Mostyn said he expected there would be strong demand for the assets from both overseas and domestic buyers as Wollongong is one of Australia鈥檚 best performing residential markets becoming more attractive to investors, particularly in the wake of the COVID-19 pandemic.

鈥淭he properties are all well-located quality assets with the added benefit of offering upside through development potential,鈥� he said.

Knight Frank can be contacted on 02 4227 2111 or at

Media Resources

High resolution images of Marketview, International House and Weerona College are .

Note to editors

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 20,000 people operating from 523 offices across 60 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, visit  

Media contacts

Andrew Herring, Associate Director, Strategic Communications
T: +61 2 4221 5501 | M: +61 410 456 676 | E: andrew_herring@uow.edu.au

Ben Long, Media & Public Relations Manager
T: +61 2 4221 3887 | M: +61 429 294 251 | E: ben_long@uow.edu.au   

妹团视频 Media Office
T: +61 4221 4227 | E: media@uow.edu.au

Knight Frank

T: +61 2 4227 2111 | W: