Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

[smartcode_project:default project_id=135546 project_image_fid=363515]

The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

[smartcode_project:default project_id=135546 project_image_fid=363509]

“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

[smartcode_project:default project_id=135546 project_image_fid=363514]

&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

[smartcode_project_cta:default project_id=141609]

Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

[smartcode_project:default project_id=149670 project_image_fid=360966]

The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

[smartcode_project_cta:default project_id=136726]

Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

University

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GUEST OBSERVER
Australian universities are suffering revenue and job losses due to the current and projected loss of international students. A <a href="https://theconversation.com/australian-universities-could-lose-19-billion-in-the-next-3-years-our-economy-will-suffer-with-them-136251">Mitchell Institute</a> report has estimated the sector may lose up to A$19 billion in the next three years, while modelling from <a href="https://www.smh.com.au/national/universities-urged-to-bring-back-international-students-as-researchers-face-huge-job-losses-20200520-p54usd">Universities Australia</a> shows more than 20,000 jobs are at risk over six months, and more after that.
On April 3, Prime Minister <a href="https://www.pm.gov.au/media/press-conference-australian-parliament-house-act-030420">Scott Morrison said</a> international students in Australia could return home if they could not support themselves. Commentators <a href="https://theconversation.com/covid-19-increases-risk-to-international-students-mental-health-australia-urgently-needs-to-step-up-137596">feared such a flippant attitude</a> would cause Australia to lose its world class reputation if it didn’t come to the aid of international students.
Months of tension with China (the biggest source of Australian university <a href="https://www.propertyobserver.com.au/https://docs.education.gov.au/node/53021">international students</a>, at a third of the total) threatened to further jeopardise our international standing.
On Monday, the Australian <a href="https://www.theguardian.com/australia-news/2020/jul/20/australia-to-restart-granting-visas-to-international-students-to-lift-struggling-university-sector">government announced</a> it will restart granting international student visas and allow current students to count online study while overseas in a push to restart international education.
But how do we compare with some of Australia’s largest competitors?
Closed campuses
Australia imposed a <a href="https://theconversation.edu.au/article-132175">ban on travel</a> from China on February 1, stranding an estimated <a href="https://thepienews.com/news/aus-to-resume-student-visa-processing-among-measures-to-boost-sector/">87,000 students</a> abroad who were due to start their academic year in Australia in March.
By that time it was the middle of the second, or winter, semester for Australia’s big English language competitors in the northern hemisphere: the USA, UK and Canada. Most of these countries’ international students stayed to complete their semester, so universities did not suffer an immediate fall in revenue.
But universities in these countries did incur substantial <a href="https://assets.documentcloud.org/documents/6814099/Outlook-Higher-Education-US-18Mar20-1.pdf">additional costs</a> as many completed the semester by transferring teaching online at short notice.
While online education <a href="https://link.springer.com/chapter/10.1057/978-1-137-54943-3_10">meets similar standards</a> to campus-based education, students prefer face-to-face learning. This is particularly true for international students, who see immersion in a different culture as one of the main benefits of studying overseas.
In May, many <a href="https://www.insidehighered.com/digital-learning/article/2020/05/27/will-active-learning-be-possible-if-colleges-have-physically">US</a> and <a href="https://wonkhe.com/blogs/2020-a-space-and-timetabling-odyssey/">UK</a> universities announced bullish plans to teach their first semester in autumn, starting in September, face-to-face (or mask-to-mask). There were various provisions for plexiglass, physical distancing, masks and regular testing.
But even partial campus reopening plans <a href="https://www.propertyobserver.com.au/https://www.chronicle.com/article/Colleges-Aren-t-Reopening-in/248803">were never credible</a> in the US when they were announced. Still, many universities in the competitor countries <a href="https://www.propertyobserver.com.au/https://www.chronicle.com/article/Colleges-Aren-t-Reopening-in/248803">sought to maximise international enrolments</a> by maintaining at least a substantial part of their campuses would be open by September.
The US
US universities no longer seem to be nearly as strong competitors for <a href="https://www.insidehighered.com/news/2020/07/17/rescission-international-student-policy-directive-leaves-unresolved-questions-about">international students</a>. While the number of new COVID-19 cases has bumpily fallen in Australia, Canada and the UK, they have been <a href="https://covid19.who.int/region/amro/country/us">increasing in the US</a>.
When it became clear US universities could not responsibly open their campuses, they started <a href="https://www.educationdive.com/news/colleges-walk-back-their-fall-plans-as-coronavirus-cases-spike/581785/">reversing their announcements</a> of opening fully in September.
By July 20 some 53% of <a href="https://www.propertyobserver.com.au/https://www.chronicle.com/article/Here-s-a-List-of-Colleges-/248626?cid=RCPACKAGE">1,215 US universities surveyed</a> still planned to teach in person in September, 11% planned online education, 32% planned a mix of online and in person education, and 4% were considering a range of scenarios or had not yet decided their education mode.
US President Donald Trump sought to <a href="https://www.educationdive.com/news/trump-administration-amps-up-pressure-to-reopen-colleges/581166/">pressure universities</a> to open fully by making studying at least partly on campus a condition of international students’ visas. He soon reversed that order, but <a href="https://www.educationdive.com/news/colleges-brace-for-another-attempt-at-enrollment-limits-on-foreign-students/581662/">may issue an alternative</a> seeking the same effect.
US attractiveness as an international study destination is likely to be further reduced by the <a href="https://www.propertyobserver.com.au/https://www.chronicle.com/article/Colleges-Hoped-for-an/249206">instability in universities’ plans</a>, the uncertainty of federal immigration conditions, and continuing restrictions on entry from China and elsewhere.
The United Kingdom
Australian universities are in a much more similar position to UK universities, which are long time and powerful rivals for international students. They are expecting to <a href="https://wonkhe.com/blogs/the-ifs-on-the-covid-19-risk-to-the-sector/">lose substantially</a> from COVID-19’s suppression of international enrolments.
<a href="https://theconversation.edu.au/article-138514">Unlike Australia</a>, the UK government has granted <a href="https://www.gov.uk/government/news/government-support-package-for-universities-and-students">universities access to government-backed support</a> such as a job retention scheme which includes short-term contracts, and business loan support.
The UK government has also brought forward teaching payments and block research grants, and increased funds for students in financial difficulty.
Unlike Australia, the UK does not impose international travel restrictions but requires entrants from most countries including China and India to <a href="https://en.wikipedia.org/wiki/Travel_restrictions_related_to_the_COVID-19_pandemic#Europe_3">self-isolate for a fortnight</a> after entry. It will therefore remain a more attractive destination for new students until Australia lifts or at least relaxes its travel restrictions.
Canada
Canadian universities and colleges have some distinct advantages over their competitors for international students. They enjoy considerable financial and other <a href="http://higheredstrategy.com/welcome-to-the-2020s/">support from their national and provincial governments</a>.
While Canada’s average proportion of new COVID-19 cases is similar to Australia’s and the UK’s, these are concentrated in the biggest cities of Toronto, Montreal and their environs. The Atlantic provinces have Tasmanian levels of COVID-19 cases, and some of their universities attract <a href="https://higheredstrategy.com/cape-breton-you-have-to-be-kidding-me/">very high proportions of international students</a>.
Canada’s biggest competitive disadvantage is that while it will admit returning international students, it currently is <a href="https://www.canadavisa.com/coronavirus-covid-19-impact-canada-immigration-visa-border-latest-news#gs.b2clmu">not admitting new students</a> for the foreseeable future.
The Canadian government will grant permits to international students who study online from abroad, and <a href="https://ministers.dese.gov.au/tudge/supporting-international-students-support-australian-jobs">like Australia</a> this will count towards their eligibility for a post-graduation work permit. The government has also introduced a <a href="https://www.cicnews.com/2020/07/canada-makes-huge-changes-to-help-international-students-0715032#gs.ave1np">temporary two-stage approval process for international students</a> to expedite their approval to enter to study on campus when this is permitted.
But Canada is not likely to be a desirable destination for new international students until the government and then institutions can give a firm timetable and clear plans for studying on campus.
So, what should Australia do?
To remain competitive <a href="https://www.hepi.ac.uk/2020/07/06/how-to-recruit-international-students-in-2020-communicate-communicate-communicate/">compared to the UK</a>, Australian universities should keep prospective students updated on the issues that affect their study decisions such as entry requirements, start dates, and study and accommodation conditions. This communication should be targeted towards education agents and their clients, and be specific to individual students.
Few students and their parents are convinced about the <a href="https://www.hepi.ac.uk/2020/07/06/how-to-recruit-international-students-in-2020-communicate-communicate-communicate/">value</a> and <a href="https://www.idp-connect.com/en-us/newspage/international-higher-education/international-students-willing-to-quarantine-if-they-can-start-f2f-learning-sooner/">quality</a> of online education. And they fear much of the benefit of immersion in an English speaking <a href="https://www.hepi.ac.uk/2020/07/06/how-to-recruit-international-students-in-2020-communicate-communicate-communicate/">university environment</a> would be lost if spatial distancing required social distancing.
Australian universities will have to be as clear as they can about the benefits of the study and living conditions students are likely to experience here.<img src="https://counter.theconversation.com/content/142715/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/gavin-moodie-6047">Gavin Moodie</a>, Adjunct professor, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/coronavirus-how-likely-are-international-university-students-to-choose-australia-over-the-uk-us-and-canada-142715">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

How likely are international university students to choose Australia over the UK, US and Canada?

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GUEST OBSERVATION
The university sector faces cumulative losses of up to A$19 billion over the next three years due to lost international student revenue.
Modelling from the <a href="http://www.mitchellinstitute.org.au/higher-education-funding-report-final-april-2020/">Mitchell Institute</a> shows the next big hit will come mid-year when $2 billion in annual tuition fees is wiped from the sector as international students are unable to travel to Australia to start their courses for second semester.
Such losses are not just a university problem. <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/5368.0.55.0032017-18?OpenDocument">ABS data show</a> for every $1 lost in university tuition fees, there is another $1.15 lost in the broader economy due to international student spending.
This means the Australian economy could lose more than $40 billion by 2023 because of reduced numbers of higher education international students.
We estimate each six-monthly intake missed due to closed borders will deliver an annual economic blow comparable to when Australia’s <a href="https://www.pc.gov.au/inquiries/completed/automotive/report">auto manufacturing industry shut down</a> (worth around $5 billion), or the loss of Australia’s $4.1 billion <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/7503.0">annual vegetable crop</a>.
Our modelling shows there will be no quick return to pre-coronavirus normality either, or “<a href="https://www.afr.com/politics/federal/why-morrison-dropped-the-snap-back-strategy-20200408-p54i3t">snapback</a>” as Prime Minister Scott Morrison described it.
Missed intakes disrupt the pipeline of international students – who usually study for two to three years – so lost revenue continues to impact budgets for several years.
Forecasts tell a disturbing story
We looked at <a href="https://www.education.gov.au/finance-publication">university finance data</a> and <a href="https://internationaleducation.gov.au/research/International-Student-Data/Pages/default_annual.aspx">enrolment trends</a>. We modelled two scenarios: one with a relatively quick recovery of international student enrolments beginning in 2021, and the other with an extended travel ban that meant no new international students until 2022.
Both scenarios were disastrous for the higher education sector.
The first showed the university sector losing about $10 billion, though international student revenue would largely return to normal by 2023.
But the second scenario, incorporating extended travel bans, had a longer-lasting effect. With the government announcing the borders are likely to remain closed for “<a href="https://www.news.com.au/travel/travel-updates/health-safety/australians-may-not-be-able-to-travel-overseas-until-2021-due-to-coronavirus/news-story/5b29c380cef922d256fec79b85b261ab">quite some time to come</a>” the worst-case scenario seems more likely.
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<a href="https://images.theconversation.com/files/328319/original/file-20200416-192762-ts99nc.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/328319/original/file-20200416-192762-ts99nc.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a class="license" href="http://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
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Over the Easter weekend, the government <a href="https://www.dese.gov.au/covid-19/higher-education/higher-education-faq">announced a package</a> that guarantees funding for the estimated enrolments of domestic students in 2020, despite whether the actual enrolments are fewer than estimated. The package includes about <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-12/government-announces-coronavirus-higher-education-relief-package/12142752">$100 million</a> in waived regulatory fees and funding for an additional 20,000 short online courses in national priority areas such as nursing and IT.
This will fall well short of plugging the gap international students will leave behind.
Based on historical funding rates per student, the government would need to fund another 1.9 million short courses, and universities find the same number of students to enrol, to make up for the projected losses in international student revenue.
Financial position of universities
This modelling was part of the Mitchell Institute’s more in-depth <a href="http://www.mitchellinstitute.org.au/higher-education-funding-report-final-april-2020/">investigation into higher education funding</a>. Our analysis shows total university revenue from international students grew by 137% over the past decade. More than 40% of the sector’s annual student revenue now comes from international students.
International students delivered almost $9 billion in annual revenue to universities in 2018, accounting for around 58% of student revenue at two of Australia’s most prestigious universities, the University of Melbourne and the University of Sydney.
Despite the revenue windfall, growth has been uneven. Group of Eight universities experienced the biggest growth in international students, tripling their international student revenue over the past decade. For other universities, particularly smaller and regional universities, revenue grew at a much slower rate.
Even though some balance sheets are healthy, there is limited ability to weather a protracted downturn. University surpluses were only A$1.5 billion across the whole sector in 2018. The sudden and steep decline in international student enrolments is a significant economic challenge for universities.
The outlook for universities
Australia’s universities have <a href="https://meanjin.com.au/essays/the-australian-idea-of-a-university">relied on international students</a> as a source of growth for a long time. While the amount the universities receive per domestic student has been virtually flat in real terms over the past decade, fees each international student pays have increased by over 50%.
With this revenue stream suddenly threatened, the education experience of domestic students will suffer. Universities will need to make <a href="https://www.theguardian.com/australia-news/2020/apr/12/australian-universities-warn-covid-19-relief-package-not-enough-to-stop-21000-jobs-losses">deep cuts to staff</a> and courses without further assistance.
This will come at a time when Australia will need its higher education sector as part of any COVID-19 recovery. It is likely demand from domestic students for university places will rise because of workers looking to re-skill and up-skill.
University enrolments from domestic students have increased <a href="https://andrewnorton.net.au/2020/03/25/predicting-student-numbers-during-the-covid-19-recession-2021-could-be-an-unexpected-peak-year/">during previous recessions</a> and the federal education minister has encouraged those who are out of work to undertake study.
Also, one quarter of school leavers usually take a gap year to work or travel. With those plans looking unlikely, there may be an increase in school leavers wanting to study.
But despite the extra funding for 20,000 short courses, universities are unable to respond fully to <a href="https://theconversation.com/demand-driven-funding-for-universities-is-frozen-what-does-this-mean-and-should-the-policy-be-restored-116060">any changes in demand</a>. Caps introduced in 2017 still remain that effectively limit the number of places universities can offer.
Increasing capacity in the tertiary sector by removing the caps on university places would assist universities to deal with the coronavirus crisis.
Universities play an important role in our society, and they will bring future revenue into the economy when international student numbers eventually recover. Australia will need to make further decisions about how much we want to support our universities during this crisis.<img src="https://counter.theconversation.com/content/136251/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/peter-hurley-342847">Peter Hurley</a>, Policy Fellow, Mitchell Institute, <a href="https://theconversation.com/institutions/victoria-university-1175">Victoria University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australian-universities-could-lose-19-billion-in-the-next-3-years-our-economy-will-suffer-with-them-136251">original article</a>.
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Australian universities could lose $19 billion in the next 3 years.

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Plans to establish a university and innovation joint venture in Sydney’s Norwest Business Park have been announced by property company Mulpha.
The development will include a district library, an innovation incubation hub, a university campus, and a community roof top area.
The proposed site is directly connected to the new Norwest Metro Station, which Mulpha claims has opened up the region and is helping their bid to double the precinct’s business and residential capacity by 2029.
The development company expects the successful bidder to start satisfying the immediate demand for vocational education within the next two years, with the development application targeted for lodgement with Hills Shire Council in 2021.
The university campus is planned to be completed in time for the 2025 academic year. 
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University announced for Sydney's Northwest Business Park

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GUEST OBSERVATION
Capital city universities can use income from foreign students to maintain their buildings. Their regional cousins are struggling.
Unless the federal government changes its funding policy for universities, less well-off ones, particularly regional universities, are going to fail.
In Britain, it is already happening. Several <a href="https://www.theguardian.com/commentisfree/2018/nov/02/university-bankrupt-inevitable-market-forces" target="_blank">bankruptcies</a> are imminent.
In Australia, many are clearly in financial difficulties and are trying to raise money any way they can.
During the election campaign, ABC’s <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/4corners/cash-cows/11084858" target="_blank">Four Corners</a> highlighted questionable practices in the recruitment of full-fee paying international students at institutions including Murdoch University and Central Queensland University.
Desperate for funds…
The Tertiary Education Quality and Standards Agency has found “<a href="https://www.standard.net.au/story/6182757/charles-sturt-university-defends-itself-after-registration-blow/" target="_blank">severe shortcomings</a>” in the performance of Charles Sturt University, sufficient to reduce its period of accreditation from seven to four years.
In an extraordinary move, the departing Vice Chancellor of the University of Canberra has asked his staff to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-05-03/university-of-canberra-staff-asked-to-donate-money/11076868" target="_blank">donate</a> up to A$1,000 per annum to “support students”.
It’s easy to blame the universities themselves, but it is the government that has designed the policies that have forced them up against a financial brick wall.
This situation has come about partly because of a pea and thimble trick performed by both Labor and the Coalition. While recurrent funding has risen due to the Rudd-Gillard-Rudd government’s introduction of “demand driven” funding, it has been followed by a withdrawal of capital funding.
…but it’s not their fault
In 2015 the Coalition <a href="https://www.education.gov.au/education-investment-fund">axed</a> A$11 billion Education Investment Fund set up by Labor in 2008 to maintain infrastructure “<a href="https://archive.budget.gov.au/2008-09/speech/speech.pdf" target="_blank">in urgent need of attention</a>”. In 2017 it <a href="https://www.theguardian.com/australia-news/2017/dec/18/coalitions-22bn-cut-from-universities" target="_blank">froze recurrent funding</a>.
Four years after the Education Investment Fund was axed, estimates from the higher education facilities consultancy ARINA put the maintenance deficit at more than the <a href="https://www.afr.com/news/policy/education/23bn-crisis-looms-for-university-buildings-20130603-je6aa" target="_blank">A$23 billion dollars</a> that was estimated at the time. That’s what’s needed to return campuses to a condition where they are fit for purpose.
Although the new government has announced <a href="https://www.education.gov.au/news/minister-education-announces-16-regional-study-hubs" target="_blank">small additional funding</a> for regional universities, it is nowhere near enough. Many have <a href="https://theconversation.com/how-has-education-policy-changed-under-the-coalition-government-113921" target="_blank">dilapidated campuses</a> that are hard to work or study in. University buildings constructed during the 1960s are nearing the end of their useful lives.
It’s alright for the Group of Eight
The current funding model works best for the prestigious Group of Eight (Go8) universities – those named after the cities of Sydney, Melbourne and Adelaide as well as the states of NSW, Queensland and Western Australia plus Monash University and the Australian National University.
The universities in Sydney and Melbourne have the best access to high-quality full-fee paying international students, although even for them there are issues.
The Go8 universities require huge amounts of capital to build facilities to support research in the STEM disciplines: science, technology, engineering and medicine. Under current funding policy, most of which now has to come from recurrent student income.
The proportion of international students at the biggest Go8 campuses <a href="https://www.propertyobserver.com.au/https://docs.education.gov.au/node/51956" target="_blank">climbs year by year</a>. And they are continuing to <a href="https://www.propertyobserver.com.au/https://docs.education.gov.au/node/51956" target="_blank">expand domestic enrolments</a> as fast as they can.
For the rest, options to fund capital works are limited. While some may have recruited international students regardless of quality, others are getting new buildings by doing deals with property developers.
There are few options for others
Western Sydney University is <a href="https://www.afr.com/news/policy/education/university-generates-income-through-land-development-in-the-face-of-government-cutbacks-20190219-h1bgm6" target="_blank">renting</a> its new “state of the art” campus in the Parramatta CBD. Unfortunately, the rental model carries risks because it narrows the options for reducing costs if revenue falls.
Revenue can fall for many reasons outside the control of the university, including an abrupt reduction in the number of international students due to geopolitical factors or changes in government policy on immigration.
Rent is also more expensive than direct funding because the price charged includes margins for commercial risk and profit. The property sector likes the idea, but then it would, wouldn’t it?
The best way to fund needed capital works on university buildings, and make sure they survive, is for the government to return to making capital payments on the basis of need. It would mean that universities facing a chronic shortage of capital wouldn’t need to resort to extreme measures.
Direct funding would mean they would have to conform to government-imposed area and cost standards for buildings. This would put welcome downward pressure on building costs, which have soared for some of the big city universities that have access to cash from international students.
City universities win design awards
General academic buildings, and those providing offices and teaching space, are in some cases being delivered for <a href="https://www.afr.com/news/policy/education/higher-learning-not-a-matter-of-luxury-20141208-12272h" target="_blank">twice as much as they were 20 years ago</a>, corrected for inflation, in large part because they have become unnecessarily elaborate, in part to attract foreign students.
The Monash <a href="https://www.monash.edu/about/our-locations/clayton-campus/learning-and-teaching-building/construction-program" target="_blank">learning and teaching building</a> and the University of Melbourne <a href="https://msd.unimelb.edu.au/about/msd-building" target="_blank">architecture building</a> are examples, as is the A$180 million University of Technology Sydney <a href="https://www.uts.edu.au/partners-and-community/initiatives/city-campus-master-plan/completed-projects/dr-chau-chak-wing" target="_blank">business school building</a>.
Instead of making every new university building an award-winning icon, we ought to be content with making at least some of them just good.
Providing capital funding to universities is likely to cost at least an extra <a href="https://www.afr.com/news/policy/education/23bn-crisis-looms-for-university-buildings-20130603-je6aa" target="_blank">A$1.5 billion a year</a>. But that’s small compared to the <a href="https://internationaleducation.gov.au/research/Research-Snapshots/Documents/Export%20Income%20CY%202017.pdf" target="_blank">more than A$30 billion</a> international education exports are said to pump into the economy.
It is also small compared to what would happen if they folded or failed to deliver the research we need.
Others can afford little
The sector can help its own case by focusing more on building costs and less on winning design awards. University peak bodies in Britain play an active role in benchmarking building and operational costs. <a href="https://www.universitiesaustralia.edu.au/" target="_blank">Universities Australia</a> should consider doing the same.
It ought to be in a position to document improvements in the operational efficiency of universities and highlight the magnitude of the maintenance funding needed. At the moment, it is not.
No one, including the government, really wants a university to fail. The cost of recovery would probably end up being borne taxpayers and the impact on students would be devastating.
It is in the interests of all Australians to have a university funding model that does not send less well-off universities to the wall, including most of our regional universities.
The current model generates perverse incentives to reduce acceptance standards for international students, encourages universities to use expensive developer-provided sources of capital and has driven the creation of mega campuses that are more about income than student outcomes. We can and should do better.<img src="https://counter.theconversation.com/content/109374/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/geoff-hanmer-90647" target="_blank">Geoff Hanmer</a>, Adjunct Lecturer in Architecture, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-regional-universities-are-at-risk-of-going-under-109374" target="_blank">original article</a>.
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Why regional universities are at risk of going under: Geoff Hanmer

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The Queensland University of Technology (QUT) has unveiled its new $94.4 million Education Precinct building located at its Kelvin Grove Campus in Brisbane.
The Faculty of Education and QUT’s Aboriginal and Torres Strait Islander Oodgeroo Unit are housed in the state-of-the-art, six-level building, spread across 10,500 sqm. 
Designed by Wilson Architects and Danish firm Henning Larsen Architects, the project is a model for educational precincts internationally and sets a new benchmark for contemporary and sustainable design. 
The development of the new precinct involved the demolition of two existing 30-year-old buildings, project managed by Turner &amp; Townsend under the direction of QUT’s Facilities Management Department
Robin Sweasey, National Head of Education for Turner &amp; Townsend and Senior Project Manager for QUT’s Education Precinct development said the four year project was a collaborative team effort.
“The inclusion of a five-metre diameter LED Sphere suspended over two floors is a focal point in the atrium and showcases the very best of visualisation technology. The Sphere facilitates interactions with teaching content in a unique format.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/4/QUT1.jpg" alt="">
QUT Vice-Chancellor and President Professor Margaret Sheil said the university was excited to welcome students this semester to the new precinct.
“This is a significant investment by the university in enhancing the student learning experience and continuing to provide quality teaching and education,” Professor Sheil said.
“These facilities have been purpose-designed and reflect QUT’s commitment to applying technology and immersive digital environments in teaching, research and engagement.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/4/QUT3.jpg" alt="">
John Thong, director at Wilson Architects and representative of Henning Larsen said the project is a flagship and transformative development for QUT.
“The conceptual framework for this memorable place leverages off strong connections to the existing Campus Library and Campus Pedestrian spine to reveal a highly visible, large, interconnected, terraced atrium space enabling intuitive wayfinding and a highly visibly connection into the library," Thong said.
“Spaces are dynamically flexible where students can find their unique place to study and collaborate. The physical framework inspires a variety of study modes and interdisciplinary collaboration by incorporating distinctive and inspiring spatial environments to stimulate informal interactions.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/4/QUT4.jpg" alt="">
The space between the existing Campus Library and the new Education Precinct has been transformed into a new internal garden and forms a central focal space within the building. It incorporates lush landscape planting, responding to the sub-tropical climate of Brisbane. The escarpment, formed between the upper campus and the newly pedestrianised Ring Road, is funneled into the atrium where the plants cascade through a series of terraced platforms.
The precinct is a key aspect of QUT’s strategic objective to enhance the Kelvin Grove Campus and position the university at the forefront of educational tertiary academia through interactive and flexible facilities.
 
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jrobinson-rf4aSBido9

Queensland University of Technology unveiled its new $94.4 million Education Precinct building

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Notre Dame University have bought a unique development site in the heart of Sydney’s university precinct for $21 million at auction.
The auction through Colliers International saw a mix of local and offshore developers, international student accommodation providers and major tertiary providers competing for <a href="https://www.commercialrealestate.com.au/property/142-152-broadway-chippendale-nsw-2008-2013886739" target="_blank">142-152 Broadway</a> in Chippendale.
Bidding started for the 520 sqm site began at $16 million.
“We saw massive interest in this site with over 200 enquiries received prior to auction,” said Miron Solomons, director of Sydney investment sales at Colliers International who sold the site in conjunction with Justin Rose of Ray White Commercial.
“This privately held, 520sq, asset with dual street frontage to Broadway and Grafton lane sits moments from universities, major transport links and Broadway Shopping Centre.”
Strategically located between Sydney University, University of Technology Sydney and the University of Notre Dame, 142 – 152 Broadway the remaining site in Chippendale Education precinct and benefits from close proximity to China Town and the new Light Rail.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/3/Broadway%20copy.jpg" alt="">
The site has a flexible mixed-use zoning with a floor space ratio of 6:1 and height limit of 25 metres, which allows for a diverse number of uses.
“The favourable development controls offer flexibility for an area which not only provides access to three major education institutions, but also acts as a gateway to the Sydney CBD and ticks all the boxes including its proximity to major transport links and key infrastructure projects,” said Mr Solomons.
“Chippendale has become a thriving part of the city fringe, with a unique culture which has benefitted from unprecedented investment from universities and government as well as residential development and student accommodation providers.”
The inner-city universities around Sydney generate much of the appeal for students, with 153,301 students across the three universities which includes 27.3% or 41,586 international students in 2015 based on the latest statistics.
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Notre Dame University buy development site in Sydney's university precinct

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Major universities across Australia are installing ‘greenwalls’, which involved wrapping facades of buildings with plants, in an attempt to improve concentration levels and promote overall wellbeing.
The Greenwall Company, which has pioneered the greenwall, uses design techniques across both residential and commercial projects. 
It has worked with a number of universities, including The University of QLD and La Trobe University, to design and install their patented greenwall technology. 
Mark Paul, horticulturist and founder of The Greenwall Company, said studies have proved the benefits of greening community spaces, one of which is improved concentration levels. 
“Over the past three years we have been working closely with a number of universities to create bespoke designs to work within the architecture of the buildings,” Paul said. 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/25/LaTrobeGreenwall.jpg" alt="">
A study by Dr Kate Lee from the University of Melbourne revealed that glancing out at a greenroof for only 40 seconds boosts concentration. 
Beyond the increase in concentration levels, greenwalls help to improve air quality, are aesthetically appealing, lower power bills and even act as an insulator. 
In 2013, The University of Queensland introduced their new Global Change Institute Building, which features The Greenwall Company’s unique greenwalls as the key design feature and achieved a six green star rating. 
A 70 sqm panelled greenwall was installed over the air- conditioning vent. This formed part of the air filtration system, allowing the greenwall to clean and purify the air. 
The greenwall design also included a pond of native rainbow fish with waterplants and a vertical wetland to strip nutrients from the pondwater — a simple ecological system. 
More recently, The Greenwall Company have completed the installation of a greenwall at La Trobe University in Melbourne. 
The Healthsciences building features a mainly native planting covering 20 sqm.
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jonathanchancellor-7SQnKwU6yx

Greenwalls to improve the concentration and wellbeing of university students 

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Australia is the the third most popular country for higher education among parents considering international university education for their children, a new survey by HSBC reveals.
In all, 38 percent of parents from 15 countries rated Australia as one of their top destinations from a list of 50 countries, according to HSBC’s The Value of Education - Foundations for the Future report.
Australia is also a cheaper education destination compared with several countries such as the US, with the average annual tuition fees for international university students being US$26,136 per year. 
The number of international students enrolled in universities outside their home countries is expected to rise to more than 8 million worldwide by 2025, up from 4.5 million students now, according to the Institute of International Education.
This presents Australia with a clear opportunity to cash in on the growing education market.
Graham Heunis, head of Retail Banking and Wealth Management for HSBC Australia, said, “This data underscores the contribution that education makes to the Australian economy. It is already Australia’s third largest export earner - behind only iron ore and coal – and is expected to grow further as parents from the Asia Pacific, in particular, seek an international university education for their children.” 
The number of international students in Australia is up by 11% from 2015 with almost half a million enrolling here so far this year. Better job prospects, exposure to new cultures, international experience and language skills are considered to be among the benefits of study abroad. 
“However, offshore education comes at a higher cost, with living expenses and air fares on top of tuition fees. Early planning and taking advantage of foreign exchange movements can help parents overcome these financial barriers,” said Graham. 
The HSBC research shows Australia was the preferred choice of Indonesian parents, with 14,833 Indonesian students currently enrolled to study here. A fifth of all student visas for Australia are issued to Chinese nationals (Department of Education and Training 2016). 
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Australia is No. 3 country of choice for international studies: HSBC survey

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The University of Adelaide has sold its Thebarton Campus to a group of Adelaide private investors to raise funds for a new medical, dental and nursing building.  
The 3.99 ha property, which was marketed through expressions of interest, was bought by Pep Rocca of Australasian Property Developments for an undisclosed sum.
The deal was brokered by Colliers International’s Paul Van Reesema, Alistair Mackie and Paul Tierney. Van Reesema said the sale price was in line with expectations.
Thebarton Campus is occupied by multiple third party tenants, including the university for several of its faculties and records storage. The university’s Vice-Chancellor and President Warren Bebbington said the university would continue to occupy various tenancies following the sale, by way of lease backs on commercial terms. 
“The sale was part of our divestment plan to fund our new medical, dental and nursing building, now nearing completion next to the new Royal Adelaide Hospital,” Prof. Bebbington said.
The portfolio was offered in four ‘super lots’ or as a whole, according to a media release. Thebarton Campus close to the Adelaide CBD and affords solid cash-flow opportunities and development potential given its Urban Corridor zoning, and building height limit of six levels.
“This sale represented a unique opportunity to acquire a major inner metropolitan infill land holding,” Van Reesema said.
With 28 buildings providing extensive accommodation, the portfolio offers significant holding income opportunities for a purchaser whilst planning and implementing a redevelopment project.
 
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prateek24-ezbwHMbNAk

University of Adelaide divests from Thebarton Campus to fund new medical building

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<img src="https://counter.theconversation.edu.au/content/63938/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Six Australian universities made the top 100 best global research institutions in the 2016 Academic Ranking of World Universities (ARWU), released today – two more than the previous year.
Monash University and the University of Sydney were the two newcomers to the top 100 club, joining Melbourne, Queensland, Western Australia and Australian National University.
More than half of Australia’s public universities now feature in the world’s best 500 research institutions.
This year marks a change in the methodology to the ARWU rankings, which is based purely on a university’s research performance.
“The ARWU is noted for the stability of its methodology, which means that normally, unless an institution won a Nobel Prize or recruited a large number of Highly Cited Researchers, large movements did not occur,“ said Natalie Mast, associate director for performance analytics at the University of Western Australia.
“The main driver of movement this year has been a change in the methodology used to determine highly cited research criteria,” she said.
“Previously, ARWU utilised both the old and the new highly cited researcher lists, and this is the first year that only the new list was used.”
The old list included anyone who had been named a highly cited researcher up to 2011, and included publications going back to 1981. The new list, which was developed in 2014, is updated annually, and focuses on publications from the last decade.
Mast said: “This has allowed Chinese universities – Tsinghua and Peking – to break into the top 100 for the first time."
Within the ARWU rankings, 50% of the total score of an institution is determined by a small number of individuals, made up of Nobel Prize winners (staff and alumni) and highly cited researchers.
Mast noted: “The ARWU has traditionally favoured established universities, as Nobel Prizes awarded to alumni and staff, which can provide a value for up to 100 years, have a significant impact. By changing the highly cited research criterion, newer universities have an greater opportunity to rise in the ranking.”
“There had been agitation from ARWU and universities, which urged Thomson Reuters to clean the list. It was advantageous to older researchers because they had a longer body of work. Now it allows high-performing mid-career researchers to be classified as highly cited,” said Mast.
The rankings point to some interesting global trends. While older universities in Europe and the US seem to be falling in these rankings, those universities in Spain, China, South Korea and Australia are on the rise.
She added that, through increased investment, Chinese universities were likely to continue to improve in these rankings.
Mast noted that the rankings needed to be viewed in perspective. “The score assigned to an institution in the ARWU is a percentage of the top-ranked institution, which has always been Harvard. This year, the university ranked 100. The University of Utah, attained a score of 25.4.”
According to Tony Shiel, deputy director of the office for research at Griffith University, these results show that you get a consistently good university education in Australia.
“The rankings show that Australia has a good top end, and middle end, meaning that quality runs deeply across the sector,” said Shiel.
Western Sydney University and RMIT made the top 500 list for the first time – both have recently invested in research.
QUT, which now features in the top 300, wasn’t even in top 500 two years ago.
“There are a few making quick rise,” said Shiel. “Whether that continues or not will be interesting to see.”
“Research is important as it enhances the brand, which then in turn attracts international students,” said Shiel.
These rankings place Australia in a good position in a fast moving part of the world, he added.
“It positions us well to have better collaborations with Asian partners, especially in China, as we will be taken more seriously,” he said.
Howerver, Shield said these results were just another indicator and we should not place blind trust in these outcomes, no matter how positive.
Harvard, Standford and UC Berkeley universities gained the top three spots for being the best in the world at research.
While the US had 50 universities in the top 100, the UK featured the second highest with eight universities.
Claire Shaw is education editor, The Conversation and can be contacted <a href="https://theconversation.com/au/team#claire-shaw" target="_blank">here</a>.
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