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Telstra will shift out of its Stirling Street headquarters into two separate buildings in 2017. Photo: Attila Csaszar

Telstra HQ to become student village

Telstra’s administrative headquarters on Stirling Street has been sold and the new owner, a private equity player from China, plans to redevelop it into a 500-bed student accommodation facility, the second such proposal for the area.

Hong Kong-based Gaw Capital Partners today announced it had bought the building, located at 80 Stirling Street, for an undisclosed sum.

The private equity player, which has a portfolio of commercial, retail and hospitality assets in mainland China, Hong Kong, Macau, Taiwan and South Korea, as well as in the US and UK, said it would convert the 20,000 square metre office building into student housing.

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Total Shareholder Return as at 30/06/16

1 year TSR5 year TSR
483rdANZ Banking Group9%14%
546thNational Australia Bank-0%12%
552ndWestpac-2%13%
561stTelstra-4%21%
569thCommonwealth Bank-7%14%
694 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

4th-National Australia Bank$27,213.0m
5th-Commonwealth Bank$27,005.0m
6th-Telstra$26,607.0m
7th↑Westpac$21,642.0m
8th↓ANZ Banking Group$21,071.0m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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