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Friday 22 August 2014

Penthouse makes for swanky digs but at sky-high prices

Katherine Donnelly Education Editor

Published 03/06/2014 | 02:30

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The new Montrose student development
The new Montrose student development

IT may become the swankiest student address in town, but penthouse living for college-goers is arriving with a price tag to match.

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Dublin's former Montrose Hotel, near the UCD campus, has been transformed into the capital's newest student residence, opening in the autumn.

Top of the pile will be the penthouse rooms, with a price tag of €11,395 for those who want to enjoy the views for the academic year.

It may be a far cry from dingy and damp basement bedsits, but it is also scaling new heights in terms of student rents.

Across the road in UCD an 11pc rise in fees next year will bring annual fees to €4,901-€6,691, while prices in Montrose start at €7,740.

The Montrose residence, on the Stillorgan dual carriageway, will offer 192 en suite rooms, arranged in five to eight bedroom "cluster" flats.

Some may have hoped that the opening of a new students' residence would have kept a lid on prices but the overall pressures on the property market have put paid to that.

The cheapest rooms in Montrose, priced at €180 and €181-€199 a week, have already sold out.

Next up, are top floor rooms at €217.50 a week, superior rooms will be €230 a week and penthouse living €265 a week.

The price includes utilities, broadband and 24/7 security.

While contracts for on-campus accommodation in individual colleges usually run for about 33-39 weeks, to coincide with their own academic year, Montrose is requiring tenants to book for 43 weeks.

DIT Campus Life manager, Brian Gormley, who has reserved 50 spaces at the residence for his students, described the accommodation as "the high end of the market".

The company behind the development is Ziggurat Student Living, which has had a great deal of experience providing accommodation designed and built and run specifically for students across the UK.

Irish Independent

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