Lidl seeks €46m for Ballymun student beds

Lidl is seeking buyers for two student accommodation blocks that it plans to develop alongside a new supermarket in Ballymun, north Dublin. The retailer has retained CBRE to seek offers in the region of €46 million for the proposed 364-bed student accommodation scheme. The development will includes offices, two cafes and additional retail space.

It is envisaged that the cafes and some of the retail space will be sold with the student blocks.

The scheme is located just off Ballymun main street, within a mile of Dublin City University. The student accommodation sector is hotting up as the shortage of affordable rental properties in the capital bites. There are several large schemes in planning or the early stages of construction, most notably around the Liberties area of Dublin. For example, the Mill scheme, built by BAM for US private-equity investors, charges students about €1,000 per month.

"North Quarter [Ballymun] provides investors with an opportunity to secure a newly developed scheme in a location where student numbers are high and projected to increase over the coming years," said Emma Courtney, an associate director with CBRE.