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08/02/2016
Queen's Enters Deal To Develop More Student Accommodation
Queen's University has entered into a deal with developers McAleer & Rushe
to develop 1,200 student bedrooms on two of their city centre sites.
McAleer & Rushe has agreed with Queen's University to deliver the completed buildings, by the summer of 2018, in a deal estimated to be worth just over £70 million.
Both projects are currently under consideration by the Belfast City Council Planning Service.
The 476-bed scheme on McClintock Street will form part of a mixed-use student and hotel scheme, while the proposal for College Avenue will consist of 680 cluster bedrooms and 95 studios.
McAleer & Rushe Property Director, Stephen Surphlis, said: "This is one of the most significant property development deal in Northern Ireland for many years. It follows on from the success we had with Belfast City Council to develop a 100,000sq ft office for it, at our site on Adelaide Street.
"We are particularly pleased to have reached agreement with Queen's on these two student accommodation schemes, which will provide such a valuable boost for the City.
"The projects, which are estimated to generate around 550 jobs during the construction phase and 75 long-term jobs, will also make a significant contribution in the on-going regeneration of Belfast City Centre, bringing major economic benefits for nearby retail and leisure businesses and added vibrancy to the heart of our capital."
(CD/JP)
to develop 1,200 student bedrooms on two of their city centre sites.
McAleer & Rushe has agreed with Queen's University to deliver the completed buildings, by the summer of 2018, in a deal estimated to be worth just over £70 million.
Both projects are currently under consideration by the Belfast City Council Planning Service.
The 476-bed scheme on McClintock Street will form part of a mixed-use student and hotel scheme, while the proposal for College Avenue will consist of 680 cluster bedrooms and 95 studios.
McAleer & Rushe Property Director, Stephen Surphlis, said: "This is one of the most significant property development deal in Northern Ireland for many years. It follows on from the success we had with Belfast City Council to develop a 100,000sq ft office for it, at our site on Adelaide Street.
"We are particularly pleased to have reached agreement with Queen's on these two student accommodation schemes, which will provide such a valuable boost for the City.
"The projects, which are estimated to generate around 550 jobs during the construction phase and 75 long-term jobs, will also make a significant contribution in the on-going regeneration of Belfast City Centre, bringing major economic benefits for nearby retail and leisure businesses and added vibrancy to the heart of our capital."
(CD/JP)
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