JLL present Academie House, a premium student accommodation complex in Canberra's City West, to the market via an Expressions of Interest (EOI) campaign.  

This exceptional asset is expected to attract significant interest from buyers seeking both immediate income from a fully leased property and the potential for strategic repositioning to capitalise on Canberra's ongoing urban transformation. 

JLL’s Tim Mutton, Mitch Frail and Jack Bergin are managing the sale of Academie House, which comprises two distinct assets: a 90-bed student accommodation facility, with ground floor retail at 34 Marcus Clark Street and an adjoining three-level, 634sqm boutique office building at 3 Hobart Place. 

"Academie House presents a rare opportunity in Canberra's thriving property market," said Mr Mutton. "With its prime location adjacent to the Australian National University (ANU), which serves over 18,000 students, the property is optimised for student living but holds significant potential for repositioning, redevelopment, or adaptive reuse, thanks to its CZ1 zoning." 

Originally constructed in 1966 as an office building formerly known as Tasman House, the property was skilfully repurposed in the early 2000s to a 90-bed student accommodation asset to meet the growing student population in Canberra. Today, it stands as a testament to adaptive reuse and strategic property management. 

“With Uni Lodge anchoring Academie House and Adero Law occupying 100 per cent of 3 Hobart Place, this opportunity provides a stable and diversified net income of more than $1.17 million per annum.” 

Mr Mutton emphasised the property's significant development potential: “The Crown leases permit a range of uses, including student accommodation, residential, hotel and office developments, making all these options viable given the site's age and location. Additionally, planning provisions allow for increased building height, whether through full redevelopment or the adaptive reuse of existing structures.” 

Mr Frail highlighted the strength of Canberra's commercial market, citing JLL Research’s latest data: "Canberra's office vacancy rates have tightened to 8.0 per cent as of Q4 2024, reflecting robust tenant demand and a thriving market underpinned by government investment and sustained economic growth.” 

“The property's strategic location positions it to benefit from Canberra's ongoing urban renewal and infrastructure investments. Its proximity to the expanding Australian National University campus further enhances its long-term value proposition," Mr Frail said. 

"We anticipate strong interest from a diverse range of buyers, including institutional investors, developers, and private capital groups looking to leverage the property's excellent location, flexible zoning, and strong income profile. 

“For investors, the opportunity here is twofold: secure immediate income from a fully leased asset or reposition it to capitalise on the city's ongoing transformation. With infrastructure investment through Light Rail stage 2A, the expansion of ANU, and strong market fundamentals, this is an exceptional opportunity to be part of Canberra’s next wave of growth.” 

Expressions of Interest for Academie House are invited until 5:00pm (AEDT) on Thursday, 10th April 2025. For more information, please contact the exclusive selling agents.