Students to Face Even Higher Interest Rate Charges After RPI Increase
20th Apr 2018
A four-star hotel located in Galway will close its doors next year and redeveloped as student accommodation.
The Westwood Hotel in Newcastle, Galway, was snapped up for an undisclosed fee by student accommodation provider Ziggurat, an arm of the asset-management firm Atelier Property.
The current hotel will be redeveloped to provide enough accommodation for 400 students.
A statement from Ziggurat said that the hotel will continue to operate as normal until early 2018.
Ziggurat said: "A plan is in place for an orderly and planned transition which will take place in early 2018."
Atelier's CEO Matthew McAdden said of the scheme: "We are working toward building completion for summer 2018 to allow for intake of students in September 2018. We will reveal concept drawings and building details on our website in the coming months."
The development will mark the first for Ziggurat into Galway after the company announced a significant move into the Irish student accommodation market last year.
Several foreign firms are also planning to invest into Irish student accommodation amid demand for more beds in college hot spots. The Irish arm of the US real estate giant Hines announced recently it was hoping to build up a portfolio of thousands of student beds in Dublin over the next few years.
20th Apr 2018
19th Apr 2018
18th Apr 2018
17th Apr 2018
16th Apr 2018
13th Apr 2018
12th Apr 2018
11th Apr 2018
10th Apr 2018