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Crosslane Acquires Dublin Site

Posted by Richard Ward

Image courtesy of Flickr, Creative Commons

Crosslane Student Developments has purchased a 0.5-acre development site in Stoneybatter, Dublin, with existing planning consent to develop a 96-bed block of purpose-built student accommodation.

The site is the company's second scheme in Dublin, following the acquisition and development of Carman's Hall, which will provide accommodation for 207 students and is due to open in time for the 2019-20 academic year.

The Stoneybatter development is located within five minutes' walk to the Dublin Institute of Technology's Grangegorman campus and an eight-minute walk from the city centre.

Crosslane will work with local suppliers and contractors, as well as local planning authorities to ensure the company creates long-term employment and in assisting the development of the local and wider community.

The company is targeting 3,000 beds in Ireland over the next three years as part of Crosslane's expansion into the wider European student accommodation markets.

Commending on the purchase, Lisa Timberlake, Senior Development Manager at Crosslane Student Developments, said: "Crosslane has been assessing the student accommodation market in Ireland for several years and is pleased to make our second investment in Ireland and play a part in helping to support Ireland's reputation as a stable and growing economy and a leading university location."

"The student and wider residential market in Dublin continues to suffer from persisting demand/supply imbalances and we look forward to helping alleviate those pressures, as well as creating jobs and infrastructure for the long term."