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Round Hill Acquires 368-bed Dublin Scheme

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Round Hill Capital and NBK Capital have purchased a student accommodation development in Dublin called The Liberties.

Consisting of 368 beds, the scheme was acquired from Summix, a mixed-used regeneration project specialist. Round Hill is planning to partner with the firm on additional student accommodation developments in Ireland.

Construction of the scheme will begin in July 2020 following the completion of demolition works. Building work will take two years, with the accommodation due to open in time for the 2022-23 academic year.

The project has a gross development value of EUR 85 million and is well-located for access and transport links to Trinity College Dublin, University College Dublin and Technological University Dublin.

The scheme will come equipped with a gym, cinema room, bike storage, study areas and landscaped outdoor spaces. It will be managed by Nido Student, which has extensive experience in managing student accommodation.

The purchase represents Round Hill's third investment in Ireland, following the acquisition of a 145-bed development on Farranlea Road in Cork in December 2018, as well as a 216-bed development Called Bridgefield in Dublin.

Commenting on the deal, Michael Bickford, Founder and CEO at Round Hill Capital, said: "Round Hill Capital has an 18-year track record of successfully investing in, developing and operating residential and student accommodation assets across Europe and we are pleased to have acquired this prime 368-bed purpose-built student accommodation development project in Dublin, Ireland, which is well-located within the Newmarket regeneration area."

"We recognise that areas of the student and residential housing markets in Ireland suffer from persisting structural supply constraints and we look forward to helping alleviate these pressures and significantly further expanding Round Hill Capital's business in Ireland and across Europe."