Herbert Smith Freehills leads financing for major student accommodation expansion at Griffith University

Herbert Smith Freehills is proud to announce its role acting for the lenders in relation to the financing of Stage 2 of the Student Accommodation at Australia’s Griffith University, developed by Campus Living Villages (CLV).

Based in Queensland Australia, the new student accommodation tower at Griffith's Gold Coast campus will contribute to the reduction of housing pressure and enable more students to access education and to live nearby. The project will see the construction of an 11-storey purpose-built student accommodation tower, adding 460 beds to the existing Griffith University Village site.

Our team worked closely with Australia & New Zealand Banking Group Limited (ANZ) and its client CLV to deliver a development offering contemporary and sustainable accommodation for domestic and international students.

Key features of the new development include:

• 460 beds across single studio and shared 2-bedroom units, including accessible apartments
• Ancillary retail offerings targeted to students’ needs
• Best-in-class communal and administration facilities, such as a communal kitchen, gym, recreation room, cinema room, laundromat, and study centre
• 1,700 sqm of external activated and landscaped communal space, featuring an in-ground swimming pool, basketball court, and village green

Herbert Smith Freehills provided comprehensive legal support to ANZ as lender to Stage 2, ensuring the successful arrangement of development financing for the project. Additionally, we represented ANZ and National Australia Bank (NAB) as lenders to Stage 1 of the University Village, facilitating amendments to the existing financing to accommodate the new Stage 2 development on its completion.

The Herbert Smith Freehills team included partners Erin Wakelin and Andrew Griffiths, senior associate Arnica Mullins, solicitors Jack Fox and Nathan Hawkins, and graduate Jolyn Loh. The team’s roles showcase our market-leading capabilities in project and development financing and our expertise in managing complex transactions.

“This project represents a significant step forward in providing high-quality, sustainable accommodation for Griffith University’s growing student population," HSF Finance partner, Erin Wakelin said.

“We are proud to have played a key role in working with the lenders and their client CLV to bring this vision to life," Erin said.