Daily Mirror (Northern Ireland)
£20M STUDENT ROOST FOR CITY
156-bed unit with shops is planned near Queen’s Uni
PLANS have been submitted for a new £20million student accommodation and retail development in Belfast.
The site on Bradbury Place near Queen’s University looks set for a six-floor and 156-bed unit that could be ready in a couple of years.
Belfast City Council has already given approval for 100 cluster and 56 studio beds over six floors.
Ciaran Mcintyre, of investment firm Elkstone Partners which announced the acquisition, said the plans would regenerate and create new opportunities for businesses while enhancing the local student accommodation offering.
The chief commercial officer added: “Purpose-built student accommodation continues to be a fast-growing sector, and having seen activity surge across Ireland and the UK in recent years, we identified Bradbury Place as an opportunity to develop this market in Northern Ireland.
“The development of this site, which will be ready to welcome students for the Autumn 2022 term, will significantly enhance the student accommodation offering in Belfast, particularly in the popular Queen’s Quarter of the city.
“Students can expect best in-class facilities with contemporary furnishings and a host of communal amenities.
“The 3,900 sq ft of commercial space on the ground floor also presents an excellent opportunity for a retailer keen to capi- talise on the increased footfall expected from the regeneration of this streetscape.” Mr Mcintyre said the firm would be seeking further investment opportunities.
Elkstone has been involved in the planning, construction and operation of more than 2000 purposebuilt student accommodation beds across the UK and Ireland. Mr Mcintyre, a co-founder of Elkstone Partners, added: “Purposebuilt student accommodation has been a key strand of our real estate investment strategy for a number of years, and with clear demand for such accommodation in Belfast we are certainly keen to explore further opportunities.”