13/04/2021

£20m Student Accommodation To Be Developed In Belfast

Elkstone Partners has acquired a site on Belfast's Bradbury Place where a £20million purpose-built student accommodation and retail scheme is to be developed.

30-44 Bradbury Place is the first acquisition in Northern Ireland for the Real Estate division of the investment firm. Development of the site will result in an additional 156 student beds for the 2022/2023 academic year, but also 3,900 sq ft of ground floor retail space fronting on to a heavy footfall area of the city.
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Ciarán McIntyre, Chief Commercial Officer at Elkstone Partners, said of the acquisition: "Bradbury Place is an extremely exciting project to mark our entrance to the Northern Ireland market with a significant investment of international capital. Our focus is to proactively assist our clients in selecting investment prospects that are directly tailored to their individual needs, and we will be seeking further investment opportunities in the north.

"Purpose-built student accommodation continues to be a fast-growing sector, and having seen activity surge across Ireland and the UK in recent years, we identified Bradbury Place as an opportunity to develop this market in Northern Ireland.

"The development of this site, which will be ready to welcome students for the Autumn 2022 term, will significantly enhance the student accommodation offering in Belfast, particularly in the popular Queen's Quarter of the city. Students can expect best in-class facilities with contemporary furnishings and a host of communal amenities. The 3,900 sq. ft. of commercial space on the ground floor also presents an excellent opportunity for a retailer keen to capitalise on the increased footfall expected from the regeneration of this streetscape."

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