Prime Docklands Development Site On Approx. 0.96 Ha (2.38 Acres) Full Planning Permission for 935 Bed Student Accommodation Scheme For sale on behalf of Receiver, Mr. Declan McDonald A total of 935 student bed spaces in two blocks Dublin 1 Student 935 BEDS Retail Full Planning 7-storeys high. LOCATION ACCOMMODATION 866 SQ.M Pemission 935 Beds Exceptional opportunity to acquire a prime city centre development site in Dublin’s Docklands area with full planning for a major student accommodation scheme. • Site area extends to approximately 0.96 hectare • The proposed student scheme will be accessed (2.38 acres) with full planning permission for from ‘New Street’ which is currently under a total of 935 student bed spaces. The scheme construction and will link North Wall Quay to comprises two separate seven storey blocks. Sheriff Street. • The majority of the bed spaces will be situated • This proposed student scheme provides in the northernmost Block A where 589 ideal scale and size and is in an ideal city bedspaces are planned. The remaining 346 centre location, served by transport options, bed spaces are planned for Block C which amenities, local shopping and within a fronts onto the Point Luas stop. short walk and bicycle journey to numerous colleges, including National College of Typical student amenity space • The high-specification scheme will contain Ireland, Trinity College, Dublin Institute of a carefully-designed mix of student clusters Technology and a number of private colleges. containing between 3 and 8 bed spaces, as well as twin and single study units. • A recent Higher Education Authority (HEA) report has highlighted a current shortage of • In addition there is 866 sq.m. of commercial retail purpose-built student accommodation floor space and 462 sq.m. of community facility. in good city centre locations in Dublin. • Situated strategically in the North Docklands • According to the HEA, demand for full time area of Dublin 1, the site is immediately higher education in Ireland is forecasted adjacent to the Point Luas station and to increase from 168,000 in 2014 to 193,000 the Gibson Hotel and is proximate to the in 2024, further highlighting the urgent 3Arena, Odeon Cinema and the Point Village requirement for quality purpose built Shopping Centre. student accommodation in suitable locations, particularly in Dublin. • Major infrastructural improvements and new commercial buildings in progress in this Docklands area. Typical student amenity space Proposed Point Luas elevation Airport M1 East link 3 Arena Gibson Hotel Grand Canal Docks Marker Hotel Trinity College IFSC M50 Location ‘Point Campus’ site is situated Santry in the North Docklands area of Dublin, approximately 2 km east rt rt Po of O’Connell Street. The site is 2 prominently nestled between T Howth l unne Clontarf Sheriff Street Upper and Mayor Line Street Upper in a district that is Drumcondra DART experiencing rapid regeneration and boasts some globally renowned occupiers. A new street is currently under construction, which will link North Wall Quay to Mayor Street/ Luas Red Line Sherriff Street, which will provide improved 4 Dublin access and traffic flows to this city block. City Centre 5 1 7 6 Proposed Bridge 8 Luas Green Line Proposed Bridge Transport Proposed Bridge Rathmines The Point Campus benefits from an excellent transport network and is particularly well-served by Donnybrook DART bus and light rail routes. The Point LUAS line which operates right on the doorstep of the site, opens New Street Line up a primary arterial route for access to Higher Education Institutes spread across the city. 3 Average Travel Times to Dublin HEI’s From Point Campus No. Students Car Bicycle Public Average Dun LaoighaireTransport Journey Time Dundrum 1 To Trinity College Dublin 14,225 15 mins 10 mins 18 mins 14 mins 2 To Dublin City University 9,761 15 mins 24 mins 45 mins 28 mins 3 To University College Dublin 21,232 16 mins 27 mins 46 mins 29 mins 4 To National College Ireland 1,500 6 mins 5 mins 7 mins 6 mins Killiney 5 To Dublin Business School 9,000 20 mins 13 mins 25 mins 19 mins 6 To Royal College Surgeons 2,532 20 mins 15 mins 25 mins 20 mins 7 To Dublin Institute of Technology 13,828 21 mins 17 mins 30 mins 22 mins 8 Griffith College 7,000 22 mins 20 mins 40 mins 27 mins Typical student amenity courtyard Odeon Cinema Yahoo Point Village Shopping Centre Point Luas Stop Convention Centre National College of Ireland For illustrative purposes only For identification purposes only Neighbours Dublin - a Primary Centre for Higher Education Asset Overview Dublin is acknowledged as the primary centre for higher education in Ireland and renowned as the principal financial district and heart of 0.96 hectare (2.38 Acres) site in Dublin Docklands with full the Irish economy. In more recent times, the city has become home to planning permission for 935 student bed spaces. major IT and Technology giants with multinational corporations such as Google and Facebook opting to locate their European headquarters This purpose-built student accommodation aims to offer the in the city. Dublin is quickly emerging as a diverse and multicultural city complete student experience for students as they prepare with an estimated city population of 530,000 and an urban population their future in employment. As opposed to renting privately of 1,273,069. In addition, the city attracts a huge influx of European and International students wishing to study at one of the many third level in more traditional accommodation, students can expect to institutes on offer in Dublin. be in a safe and secure environment which typically provides Typical student accommodation 24-hour security along with CCTV and entry key cards. Accommodation Comparisons Town Planning to the UK Student Accommodation Market The subject site is designated as The property comprises a mostly Block C City Block 5A & 5C within the North cleared brownfield site extending According to a recent Higher Education Authority report on Student Accommodation, Dublin Student Accommodation Market Lotts and Grand Canal Dock SDZ to approximately 0.96 hectare Dublin has a total of 79,078 full time students of which approximately 12,500 are Block A 346 bed spaces (Strategic Development Zone). The (2.38 acres). The land adjoining 589 bed spaces site has been earmarked for high the subject site to the south and international students. density residential development, fronting North wall Quay has a For illustrative purposes only. However, Higher Education Institutes are only in educational institutes seek the provision of purpose with a stated density target of planning permission for two office up to 247 units per hectare. The buildings comprising 313,567 sq.ft. a position to offer on-campus halls of residence built student accommodation. The current shortage TSU - Twin Study Unit adjoining Block 4 indicates the In addition the surrounding Blocks accommodation to approx. 6,000 students, representing of purpose built student accommodation in Dublin NORTHERN IRELAND WALES SCOTLAND SSU - Single Study Unit just 7.5% of the full time student population in Dublin. is primarily due to the lack of new development in Accommodation Schedule scale of permitted densities as 3, 8, 9 and 10 are all progressing When compared to the UK average bed space provision this sector to date, this has been exacerbated by the 10.5% 12.3% 16.3% evident in the successful Liffey or have the benefit of planning as a percentage of student population (13.2%), Dublin lack of new apartment building during the economic Trust and Castleforbes Square permissions for development. Representing residential apartment schemes. is evidently behind in the provision of purpose built crisis period where there was a high demand for more 5,950 Block A Block C student accommodation. traditional accommodation. 79,078 Campus The UK facilitates a more realistic level of bed space Several of the main institutions have an immediate Accommodation 7.5% Floor Cluster TSU SSU Floor Cluster TSU SSU provision particularly in Scotland (16.3%) and London requirement for off campus bed spaces, including Students Planning Permission Students Ground 25 - - Ground - - - (14.6%), suggesting that the UK is currently more Trinity College (with a requirement for approximately Available Planning permission was granted The campus will predominantly advanced in this market with greater experience in 1,000/2,000 bed spaces), RCSI, and private 1st 90 4 - 1st 23 - 1 by Dublin City Council on May consist of cluster apartments providing private bed space accommodation. Dublin colleges. Dublin Institute of Technology which has 2nd 90 4 - 2nd 63 2 1 2016 for a state of the art purpose accounting for approximately is currently below Northern Ireland on bed space approximately 22,000 full time students, are planning built student accommodation 85% of the student provision with provision for students, a more precise indication of the construction of 2,000 bed spaces on their new 3rd 90 4 - 3rd 69 2 - scheme comprising (31,738 sq the balance distributed between the shortfall in the city particularly as both regions Grangegorman Campus, but we anticipate significant 4th 90 4 - 4th 69 2 - m) 935 bed spaces and associated Twin Study Units and Single Study have traditionally seen students opt for private rented additional off campus demand for new purpose amenity spaces and ground floor Units as outlined in the schedule accommodation. built accommodation in well located and safe areas 5th 90 4 - 5th 69 2 - Only Approx. commercial units. opposite. The accommodation will of the city, where accommodation offers students 6th 86 8 - 6th 43 - - include a total of 22 fully accessible Currently, the student accommodation market in convenience to transport options, retail and social Total 561 28 - Total 336 8 2 study bedroom units comprising Dublin is acutely undersupplied.