Monday 30 November 2020

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Cork Independent

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€83m student accommodation plans granted

Wednesday, 14th October, 2020 2:36pm

Permission to build an €83 million student accommodation development on Bandon Road has been granted, the Cork Independent can confirm.

A site of 1.5 acres has been secured for the 412-bed facility with additional opportunity for an adjoining site offering a further 142 beds, subject to planning.

Sitting just 300 metres from UCC, the development will provide residents with services and amenities including an open plan reception, a private dining room, a gym, study and games areas, laundry facilities, bike storage, 24-hour security, and landscaped outdoor spaces.

The project will be delivered by global real estate firm Round Hill Capital and will be the firms' fourth investment in the student accommodation sector in Ireland as part of its joint venture with NBK Capital.

Nido Student will manage the development, an established operational platform and brand for European student accommodation.

Michael Bickford, Founder and CEO at Round Hill Capital, said: “Round Hill Capital has an 18-year track record of successfully investing in, developing and operating student accommodation and residential housing assets across Europe.

“This development is exceptionally well-located, within a five-minute walk to UCC, and close to Cork city centre. We appreciate that areas of the student and residential housing markets in Ireland suffer from structural supply and demand imbalances and we look forward to helping alleviate these pressures.”

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