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Joint Venture Bags 354-bed Belfast Development

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Lacuna Developments and Watkin Jones Group have bought a 354-bed student development in Belfast from developer UniCiti.

Situated on 26-44 Little Patrick Street, the student development has been forwarded funded by an institutional investor and consists of 354 rooms. However, under newly submitted plans, the scheme is scheduled to increase to 430 beds.

The joint venture of Lacuna and Watkin Jones is also behind the newly opened John Bell House student development, at College Avenue, in Belfast city centre. They're also behind a 340-bed scheme at Queen Street.

Lacuna has also nearly finished building its student accommodation on Dublin Road.

The total value of all the schemes is estimated to be worth around £70 million.

Commenting on the Little Patrick Street scheme, Anthony Best, managing director of Lacuna Developments, said: "We look forward to delivering a fourth student accommodation scheme, and securing more than £100m of investment for the city.

"Through our experiences with John Bell House, Dublin Road and Athletic Stores we have built up our understanding of the student market and demand in Belfast.

"Our changes to the scheme will provide the right mix of studio and cluster bedrooms to meet demand from the market."

Under the revised plans, which are currently undergoing a 12-week consultation, the internal layout has been reconfigured to create a second outside space and an extra 76 beds.