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Monday 23 September 2019

German bank giant eyes luxury Dublin housing for students for 'solid return'

 

The Point campus student accommodation building. Picture; Gerry Mooney
The Point campus student accommodation building. Picture; Gerry Mooney

Gabija Gataveckaite

AN arm of Deutsche Bank, which has emerged as a potential buyer of private student accommodation complexes here, is seeking a "solid return", according to an economist.

DWS, the asset management arm of the German bank, has been identified as the preferred bidder for Host Dublin's Point Campus private student accommodation complexes at The Point in Dublin city centre.

"European money is preferred to short money, such as vulture funds or venture funds, as they are interested in a solid return," said Trinity College Dublin lecturer and economist Ronan Lyons, speaking to Independent.ie.

"Someone will have to own everything.

"The purpose-built student accommodation, which is built to rent, has to be owned by somebody," he added.

There are 966 rooms on offer, with residents being able to book for the academic or full year.

Host Dublin's Point Campus' rates start at €230 a week and range up to €330 a week for a studio.

Located on the Luas Red Line, the accommodation consists of two apartment complexes, one which opened last year and a second complex which will open for the coming academic year.

Residents have access to a purpose-built gym, cinema and game rooms.

The smallest room on offer is 13.6 sq m, which costs €240 a week.

For a penthouse deluxe room, residents pay €260 a week for a room 24 sq m in size.

DWS declined requests for comment.

An undercover report by the Irish Independent earlier this month showed the facilities on offer to students at Point Campus, which is one of the most expensive private student accommodations on offer in Dublin.

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