Beauchamps' Commercial Property team were delighted to advise Round Hill Capital, a real estate investment and asset management firm, on their joint acquisition with NBK Capital of a 1.5 acre freehold site on Bandon Road, Cork for €10.3 million. This site is planned as a 412-bed student accommodation building with additional opportunity for an adjoining site offering a further 142 beds.
This development, which is just 5 minutes from University College Cork, Cork Institute of Technology and the city centre, is due to be completed in time for the 2022/23 academic year.
This acquisition represents Round Hill Capital's fourth student accommodation investment in Ireland and the second with Beauchamps' assistance. They plan to continue their acquisitions with the goal of developing 2000 plus beds for student accommodation in partnership with NBK Capital.