Dublin firm buys Belfast student accommodation scheme

Image source, Elkstone

Image caption, A projection of what the site could look like on Bradbury Place
  • Author, John Campbell
  • Role, 91热爆 News NI Economics & Business Editor

A Belfast student accommodation scheme has been bought by a Dublin-based investment firm.

Elkstone Partners has taken control of the project on Bradbury Place, which recently received planning permission.

It will accommodate 156 students along with ground floor retail when construction work is completed in the middle of 2022.

It is Elkstone's first property deal in Northern Ireland.

The firm has previous experience with student accommodation in the Republic of Ireland and Great Britain.

"Further opportunities"

Ciar谩n McIntyre, chief commercial officer at Elkstone Partners, said student accommodation continues to be a fast growing sector.

"Purpose-built student accommodation has been a key strand of our real estate investment strategy for a number of years, and with clear demand for such accommodation in Belfast we are certainly keen to explore further opportunities," he said.

The majority of student schemes in Belfast have been developed on the northern side of the city centre around the new Ulster University campus but the Bradbury Place scheme is closer to Queen's University.

Elkstone is a multi-family office meaning it manages money on behalf of wealthy families.