GSA is on target to deliver its latest 400-bed student development on Mill Street in September, and is currently taking bookings for show flat viewings.
The €41m development is the next phase of an agreement between GSA and Chicago-based real estate private equity firm, Harrison Street Real Estate Capital, announced in December 2015 to invest €250 million in student accommodation in Dublin over the next five years. The opening of Uninest New Mill comes after GSA opened Broadstone Hall in 2016 and prepares to open Kavanagh Court later in the year. In total, the three residences will have contributed almost 1,000 much-needed student rooms to Dublin before the end of 2017.
Started in December 2015, Uninest New Mill is well placed for students studying at Trinity College Dublin, Royal College of Surgeons in Ireland, and the Dublin Institute of Technology’s (“DIT”) City Centre campus at Grangegorman. The seven story, energy efficient development will offer students a variety of en-suite cluster flat rooms and studios, as well as shops, a restaurant and an incubation hub for local businesses.
Tim Mitchell, GSA’s CEO for EMEA, said: “There has long been a severe shortage of student housing in Dublin, which is why we’ve set out on our goal of delivering accommodation for an additional 4,000 students in the city by 2020. While Ireland maintains its reputation for having some of the best academic institutions globally there will continue to be high demand for well-maintained purpose-built student accommodation from both home and international students.
“Uninest New Mill will reflect all of GSA’s evolved design and specification signatures, which include generous communal spaces, bright and welcoming student entrances, high levels of natural light in all rooms, and sector leading technologies. This flagship residence, coupled with Kavanagh Court, and our development at Broadstone Hall will go a long way in helping us achieve our ambitious 4,000 bed target.”
Michael Murray, Head of Construction and Development Finance at Bank of Ireland, said: “Bank of Ireland is delighted to be supporting Global Student Accommodation in the delivery of their first new build PBSA development in Ireland. The Bank looks forward to working with GSA on future developments and in the longer term as they deliver much needed high quality accommodation for students.”
GSA has also worked hard to ensure that the scheme contributes to the local community. During development, a number of historic tanning pits have been discovered and GSA has committed to retaining all artefacts, offering them to local museums and having them displayed in publicly accessible areas once the project has been completed. During site planning there was also full consultation with local residents and the council, and discussions with universities about their needs in the city as their student populations grow.
GSA Coral’s Ben Harvie added: “Broadstone Hall, New Mill, Kavanagh Court and Brunswick Street properties provide GSA Coral investors with invaluable investment exposure in Dublin alongside other significant investors and at a time when Ireland’s capital has so much opportunity in the offing. In this news report we are pleased to share, in their own words, the experiences that Uninest residents have of living in Broadstone Hall, Dublin.”
GSA sites now open in Dublin:
Broadstone Hall, Dublin, was refurbished and reopened in September 2016. It provides 101 student beds.
GSA sites due for delivery in Dublin in 2017:
Kavanagh Court, Dublin, is being delivered by Bennet Construction, and will provide 491 student beds from September 2017.
Uninest New Mill, Dublin, is being delivered by BAM Construction, and will provide 400 student beds from September 2017.
GSA sites due for delivery in Dublin in 2018:
Brunswick Street, Dublin, is being delivered by Bennet Construction, and will provide 570 student beds from September 2018.