Ireland: A joint venture between Harrison Street and CA Ventures will develop a 249-bed PBSA scheme in Dublin.
The property will will be developed, managed, and operated by CA Ventures’ in-house PBSA management company – Novel Student.
The development is located on Parnell Street in Dublin’s city centre, close to Trinity College Dublin and Technological University Dublin. It is also near restaurants, shopping, cultural attractions, nightlife and public transport options.
The scheme will offer full bed-bath parity for both studio and en suite apartments, and will feature amenities including a gym, cinema, games room, communal spaces, bike storage, study rooms, and a dining room.
Paul Bashir, CEO of Harrison Street Europe, said: “We are pleased to deliver modern, high-quality student housing with easy access to Dublin’s universities, where 80 per cent of the current student population is currently unable to access PBSA options. Dublin is home to the largest concentration of students in Ireland, with approximately 95,000 full time students. Yet, as enrolment at the largest universities continues to grow, supply of high-quality student accommodation has not kept pace.”
“We continue to see attractive opportunities to expand our presence in the Irish student housing market and look forward to working with CA to identify and develop PBSA assets that offer students premium living experiences proximate to their universities, ultimately enhancing their higher education experience,” he added.
Carlo Matta, president and head of European operations at CA Ventures, said: “We are thrilled to expand both CA and Novel Student’s presence to Dublin – a city that holds some of the country’s leading universities yet continues to lack dedicated campus accommodation. With the Dublin population anticipated to steadily increase, we look forward to the opportunity to alleviate some of the pressure universities are facing while integrating ourselves with the rich culture of the city through a thoughtfully designed and operated asset.”
This is the JV’s second project in Ireland following its investment in a 623-bed PBSA development in Cork that is opening in autumn this year. The JV also currently owns six assets in the UK and is expected to deliver in total 3,000 PBSA beds across the UK and Ireland.
Elsewhere in Dublin, Harrison Street formed a JV with Eagle Street Partners to acquire and develop a 554-unit BTR multi-phase development at the city’s East Road.
