Centurion Corporation has launched Epiisod, a new brand aimed at the upscale student accommodation market, with its first development, Epiisod Macquarie Park, located near Macquarie University in Sydney. The purpose-built student accommodation (PBSA) offers 732 furnished rooms with high-end amenities, including an infinity pool, gym, and wellness facilities, catering to the growing demand for premium student living experiences.
The introduction of Epiisod is part of Centurion’s strategy to tap into the increasing affluence and rising numbers of international students in Australia. According to Ray White, international student enrolments in Australia reached a record high in 2024, with over 1.09m students, marking a 15% increase from pre-pandemic levels in 2019.
Centurion plans to spin off its student accommodation assets into a real estate investment trust (REIT), Centurion Student Accommodation REIT (CAREIT), which is expected to unlock a value of $1.02b (S$1.4b). The REIT will initially include five purpose-built workers’ accommodations in Singapore, eight PBSAs in the UK, and one in Australia. Epiisod Macquarie Park is set to join CAREIT’s portfolio upon its completion in December 2025, bringing the total portfolio valuation to $1.46b (S$2b).
The shift towards premium student accommodation reflects a broader trend in the PBSA sector, where students increasingly seek comfort and community-oriented living. Centurion’s Epiisod brand aims to meet this demand with its focus on wellness and lifestyle experiences.
Centurion’s stock target price has been raised to $1.49 (S$2.05), reflecting the company’s strong earnings profile driven by recurring rental income and long-term asset appreciation. The successful listing of CAREIT and new operational developments are anticipated to be key catalysts for future growth.
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