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Carin Homes Eyes up Dublin's Student Accommodation Market

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Ireland's biggest house builder has been granted approval to build accommodation for nearly 400 students in Dublin city centre.

Cairn Homes has been granted planning permission to redevelop the Donnelly Centre situated just off Cork Street into student accommodation with 399 beds. The development will also include a shop, cafe and study rooms.

The company already owns dozens of development sites with the potential to accommodate nearly 13,000 homes. Cairn hit the headlines last year when it paid more than EUR 100 million to buy part of RTE's Donnybrook headquarters, the highest price paid for a plot of residential land in almost a decade.

The company has now started to move into the student accommodation market and plans to build a total of five developments with 1,700 beds.

Carin Homes isn't the only developer hoping to benefit from student accommodation, with several major student blocks being built near the Donnelly Centre. These include a 380-bed scheme recently opened at Mill Street and another currently under construction on Thomas Street.