Dublin is to receive a boost to its Student Accommodation Stock as it has been annonced that GSA, a global student accommodation provider, have been granted planning permission for the construction of 21,000m2 of student accommodation and 3,700m2 of retail space at Brunswick Street in Dublin 7.
The student accommodation building, supported by Ulster Bank, will deliver 571 en-suite student rooms as well as designated retail space at street level, including a supermarket offering.
This approval of planning permission follows GSA’s extensive repositioning and refurbishment of the 101-bedroom Broadstone Hall in Dublin’s north inner city, which is now 100% occupied for the 2016/2017 academic year providing a new residential offering for students in Dublin. With the refurbishment of Broadstone Hall, GSA, through its operating brand Uninest, is providing the latest and most modern living environment helping students in their transition from home life to independent learning and living.
In addition to Brunswick Street and Broadstone Hall, GSA, alongside joint venture partner Harrison Street Real Estate Capital, is developing purpose-build student accommodation at two further sites in the city; the New Mill, in Mill Street, Dublin 8 is a 400-bedroom development coming to market in 2017, as well as a 491-bedroom development Kavanagh Court in Gardiner Street, Dublin 1.
There are currently some 80,000 full time students studying in Dublin’s nine higher education institutions and a further 100,000 students coming to the city to study English language courses each year. The recent Irish Government education strategy includes a goal of increasing international enrolment in Irish higher education by 33% by 2020. There has been almost no student housing built on or off campus in Dublin for several years leading to a general shortage in accommodation. GSA has a commitment to invest €250 million in student accommodation in Dublin to provide much-needed homes and new accommodation choices for students studying in the city.
Aaron Bailey, Development Director for GSA Dublin, said: “GSA is delighted to receive planning permission for the Brunswick Street site, the latest in a series of student accommodation investments that the group is making in Dublin. We are delighted to be bringing this best in class expertise to key strategic locations in Dublin such as Brunswick Street. This latest approval signals real progress in our long-term plans for investment in Dublin.”
Eddie Cullen, Managing Director of Commercial Banking at Ulster Bank, project funders, said: “Ulster Bank’s commercial real estate team is delighted to support this project from GSA, providing another important student accommodation centre in Dublin. This development at Brunswick Street for 571 Bed Purpose Built Student Accommodation with the Gardiner Street development makes over 1,000 units in Dublin through our partnership and we look forward to supporting the GSA team through next stages of the projects.”