Student Accommodation Investment Opportunity Dublin

North Quarter Student Accommodation, Ballymun, Dublin 11

Dublin, 20th March 2018 – CBRE are delighted to bring to the market, on behalf on Lidl, the opportunity to forward purchase two blocks of student accommodation. The scheme, known as North Quarter Student Accommodation will form part of larger mixed-use development, comprising as its main elements, two connected blocks of student accommodation consisting of 364 bed spaces, a fully-serviced supermarket, office accommodation, retail space and two cafés. The entire scheme has been designed by Darmody Architecture.

CBRE are guiding €46 million for the student accommodation investment which equates to an average price per bed of approximately €122,000. Upon completion of the development, Lidl will sell to the purchaser both blocks of student accommodation, including ancillary retail space and two cafés.

The proposed development is situated just off the Main Street on Balcurris Road in Ballymun, approximately 1.4 kilometres from Dublin City University’s main campus and 1.2 kilometres from the Trinity College Dublin (TCD) Sports Grounds. North Quarter is also accessible to DIT Grangegorman and Trinity College Dublin’s main campus, as it is approximately 7 kilometres from the City Centre and easily accessible by private or public transport where Dublin Bus operate several routes in the immediate vicinity. The scheme is easily accessible and is ideally located to the M50 and M1 Motorways and Dublin Airport. North Quarter is also approximately 200 metres from the proposed Metro stop in Ballymun which will add an additional transport link to the City Centre.

The student accommodation sector in Ireland is a relatively new investment market. To date the vast majority of students are living in private rented accommodation or on campus in halls of residence provided directly by various third level institutions. Both of these forms of accommodation are severely undersupplied in Dublin at present with approximately only 1 in 7 full time students in Dublin having access to purpose built student accommodation. This data highlights the significant supply and demand imbalance in Dublin which has spurred the activity by private developers and operators.

Emma Courtney, Associate Director, Residential Capital Markets
The student accommodation sector is becoming a particularly attractive area of the commercial real estate market to investors and operators given the supply and demand dynamics which currently exist. North Quarter provides investors with an opportunity to secure a newly developed scheme in a location where student numbers are high and projected to increase over the coming years
Emma Courtney, Associate Director, Residential Capital Markets

- ENDS -

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie