Pelham St Melbourne sites make way for student accommodation

A UK-based student accommodation group has purchased two adjoining Melbourne development sites at 221 Pelham Street and 81-85 Barry Street.

Combined, the sites have more than 1,000 square metre area and were bought by from vendor Vaughan Construction Group through Daniel Wolman, Oliver Hay and Guy Wells at Colliers International.

221 Pelham Street, a former Reece Plumbing building, has a recently approved permit for 55 apartments.

“Located directly opposite Melbourne University, these sites combined are one of the last big parcels of land in this popular precinct,” Mr Hay said.

“The property was purchased off market by a prominent UK-based student accommodation group, who fought off fierce competition to acquire the site. The sale represents the group’s first foray into the Melbourne market.”