The university has sold three of its four student accommodation blocks

Buyer is Scape, which is big in London and obviously optimistic about Sydney.

It’s new Redfern accommodation high-rise is where the 250 international student cohorts will serve their quarantine.  All up, the company will have 6300 beds in Sydney. UTS is not disclosing the sale price but Vice Chancellor Attila Brungs says, the sale will “help the university deal with the financial challenges brought about by the global pandemic in a way that doesn’t impact upon our core business of teaching and research.”

As James Guthrie points out, UTS had a big investment in property prior pandemic and relied heavily on international student fees (CMM August 1).