Student housing with FPP for €7.25m
Agents BNP Paribas Real Estate are guiding €7.25m for 'the Quarters', a major student accommodation opportunity at Brown Street, Dublin 8.
The property benefits from full planning permission obtained by its current owners, Greenhart Properties, for a 8,112 sq m (87,317 sq ft) 281-bed, purpose-built student accommodation (PBSA) scheme of which 799 sq m (8,600 sq ft) will be designated for Science and Technology Space.
The development lands are well-located off Cork Street with frontages onto Brown Street and Brickfield Lane, and are within walking distance of a number of third-level institutions, including Trinity, RCSI, and DIT.
The proposed scheme is also located within a short distance of the Coombe, which is a teaching hospital.
The timing of the scheme's sale is opportune, given the current shortage of student beds and recent proposed amendments to the development plan leading to a more challenging planning landscape.
Greenhart Properties secured planning permission for the scheme earlier this year.