Thursday 22 February 2018

New Mill student residences a hit even at €1,000 a month

A studio apartment’s kitchen, bedroom and dining space in Uninest New Mill, situated in Dublin. Prices start at €980
A studio apartment’s kitchen, bedroom and dining space in Uninest New Mill, situated in Dublin. Prices start at €980
Uninest student apartments
Ronald Quinlan

Ronald Quinlan

With prices starting at €980 a month for a standard room, and rising to €1,380 for a premium studio, the offering at GSA's newly-opened Uninest New Mill student residence in Dublin's Liberties has been dismissed by the commentariat as beyond the reach of those looking for a place to live during term time.

And to be fair to the critics, it will be too expensive for many students and their families.

Having said that, it's worth noting that all 400 beds at New Mill Street have been booked out for the upcoming academic year.

So that's 400 fewer third-level students competing with their peers and the rest of the market for accommodation in a city where the under-supply of housing is now at chronic levels.

While yesterday was moving-in day for the facility's new residents, there were 14 students in situ already when the Sunday Independent took a tour of the premises last Thursday evening in the company of GSA's respective heads of real estate and construction for Europe, Tim Mitchell and Aaron Bailey.

Both men were understandably proud of the product GSA and Chicago-based private equity firm Harrison Real Estate Capital have delivered with their local partners, the Creedon Group and Newmarket partnership.

Constructed by BAM Ireland, the seven-storey Uninest New Mill is energy-efficient, achingly-modern and furnished and fitted to the highest standard.

Students have the choice of living in en-suite rooms clustered around common areas comprising lounges and fully-equipped kitchens, or self-contained premium studios with their own kitchen facilities.

The provision of an on-site gym, recreation room, ample indoor and outdoor common areas and parking for bikes complements the accommodation, while the presence of 24-hour security should be reassuring for residents, and for their parents.

With a total development cost of €41m, Uninest New Mill is being pitched as GSA's flagship student residence in Dublin.

A further 296 student beds are set to be delivered by the company at the adjacent Uninest Tannery on Blackpitts Road when it opens for business next year.

Headquartered in Dubai, GSA (Global Student Accommodation) aims to provide a total of 5,000 student beds in Dublin by 2021.

Pricing aside, the addition of that amount of new accommodation should be welcomed in a city struggling to house its people.

Sunday Independent

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