NSW UTS buys a building in Chippendale for 11.25m

Went over price expectation by 4m.

https://www.commercialrealestate.com.au/news/uts-buys-chippendale-warehouse-for-11-25-million/

And I have a unit 7 mins walk away. Why wait many years for a uni campus to be built when a uni can buy an existing building.

From the article: "UTS Deputy Vice-Chancellor (Resources) Patrick Woods said the university had acquired the Buckland Street site as part of its strategy to strengthen the innovation and entrepreneurship ”ecosystem” in the inner city.

“We’ll use this space to further support the thriving precinct startup ecosystem, of which we are a major partner,” Mr Woods said."

 

Guess the university needs to increase the number of international students to fund the project. I know for the Western Sydney University in Parramatta City, the project had so many tradies working around the clock to get as much of the construction finished asap for the incoming year. I've personally been inside the building and there are couple of issues already in the building.

 

I'm slightly negative on this, we have seen this on a few occasions with private schools, Clubs etc. as well. Just forever expanding outwards, I'd be all for limiting the footprint of some of these universities and forcing them to grow within there existing footprints/boundaries. For god's sake they are already massive.
It doesn't do anyone any good long term having Universities constantly overbidding and strangling land supply.

 

Western Sydney Uni is building up... Not out?

 

Yes and no. They have build up for the parra city but building out as in they have several campuses around the western sydney area. I have a feeling this is only the beginning

 

Not too sure on Western Sydney Uni, but I think thats a good thing.

I was thinking more Sydney Uni, UTS etc. Just constantly pouring out into all the surrounding buildings. You'll starve all the other businesses and industry, who don't get to sell Visa's.
That's Australia for you but. Build a technology or business park and some ASX 20-50 company just takes up all the space.

 

Having studied in both universities, my personal views is that the quality of the teaching has suffered and the quality of the degree is not as prestigious as it once used to be. A former colleague who used to teach in the UNSW was politely advised by her head that she was to pass the international students as long as it wasn't too awful.

 

Yes... ok. I accept this viewpoint. Because of the unis then other emerging companies cannot secure that prime space. Actually Darlington used to be a bigger suburb then Sydney Uni took over half the suburb!

re: "Build a technology or business park and some ASX 20-50 company just takes up all the space."
ASX Company no. 1 CBA is taking up a whole lot of space at Australian Technology Park. At first it sounded very odd for a bank to do this as historically I'd never associate a bank with technology but now i'm very comfortable with that idea as technology is vital to banks!

Banks cannot survive these days without a strong technology base. I suppose when the opportunity came up for ATP CBA gave the most attractive offer to occupy it. They also occupy a number of other buildings in the city too. The only thing I can say is it helps to have money and a smart team behind you...

 

I enjoyed Sydney uni... UTS perhaps not as much... reason being... campus. I love the old buildings and walking through Darlington from Redfern Station. Just makes me happy.
The subjects I did at Sydney uni were very rigorous in the teachings and content.

 

You probably completed your studies at the time when Usyd was a great uni to study in. I am a 3 time alumni of Usyd.

 

I did postgrad studies. I also studied at Uni of Newcastle... I think the standards there were perhaps lower. Lots of overseas students there, more so than USYD.

Anyway, with the postgrad I did at USYD they were not afraid to fail lots of students.

 

Same as University of Adelaide, they just buy lots of buildings around them and slowly expand into them as tenants move on. Or bulldoze and build new specialist buildings like the new medical building

 

Universities in Australia are more of a commercial / money making entity than anything else.

I remember my electrical engineering days back at UTS (the tower building and Haymarket), and the lecturers and tutors were nothing special. It was all about selling as many courses to the students as possible both undergrad and postgrad.


I think investors should also look at universities as a money making business and if you own places near universities then you can expect more rent / capital growth. In fact a part of the reason why Sydney is doing well is the existence of several famous universities.

 

Definitely a driver... I bought my Darlington unit because it was near USYD and it happens to be about the same distance to UTS too. Always lots of demand for people wanting to be in the area.

 

UTS has a very small footprint especially for greenspace unlike Sydney, WSU, UNSW, Macquarie et al.

I'd agree that the quality has dropped but so has the focus - sausage factory.

 

The criticism on unis is nothing new. Especially like "used to be good. not anymore".

Very impotent topic