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Dublin and Cork to Benefit From More Student Accommodation

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Dublin and Cork are set to benefit from a significant investment into student housing as Harrison Street Real Estate Capital (HSRE) and the Global Student Accommodation (GSA) group team up to deliver an additional 1,325 beds.

The EUR 200m deal will take the total number of beds delivered under the joint venture to more than 3,000.

GSA has an existing portfolio of 1,000 beds in Dublin and a delivery pipeline of 800 units are schedule to reach the market this year. Harrison Street has been working with GSA since 2015 to target student accommodation in Ireland and has EUR 11.1bn in assets under management.

Commenting on the growth of student housing in Dublin, Arron Bailey from GSA Europe, said the group's expansion in the city will help ease unprecedented demand for student accommodation and release pressure on local housing stock.

Under the deal, GSA will enter the Cork market with two sites under its Uninest brand. These include a 190-bed development close to the University of College Cork and a 413-bed scheme on a former Beamish brewery site. Meanwhile, their Dublin portfolio will benefit from a new scheme adjacent to the Grangegorman Campus and a development close to its existing Broadstone Hall property.