Developer plans 4,000 new student accommodation units across Ireland

And here's how much they'll cost per month...

UCD, Revenge Porn, Marcus O'Halloran

UCD's Belfield campus [Facebook]

Ziggurat, the UK-based developer of student accommodation behind the conversion of the former Montrose Hotel into student accommodation, has acquired a number of key sites in Dublin’s north city centre as part of its plans to build up to 4,000 new student units in Dublin, Cork and Galway.

Newstalk has learned that a number of the firm’s Dublin sites have just been acquired on Dublin’s Upper Dominic St, just off Bolton St in the north inner city where a 380 bed facility will be built and linked by the new Luas line to both the DIT campus at Grangegorman and Trinity College.

It plans to ultimately invest close to €400m in developing 4,000 student rooms in Ireland.

The sites in question include the former Michael H textile plant acquired from Small Firms Association Chairman, AJ Noonan, and two former Arnotts car park sites controlled by developer Noel Smith.

As part of its overall €400m investment plan, Ziggurat has also acquired a site on Cork’s Western Road close to UCC for a 200 bed facility and expects to build up to 1,000 student rooms in both Cork and Galway over the next three years.

Subject to planning, the firm expects to bring about 800 student rooms on stream in Dublin during 2019.

Ziggurat co-founder, Matthew McAdden joined Vincent Wall on Breakfast Business this morning - he outlined how much these units will cost to rent:

"At the moment in Montrose we are charging between €220 and €250 per week - that compares to a two bed apartment costing €1,800 a month. That's where we are in the Dublin market, at this point it is too early to decide where we will pitch the rental values."

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