Michael O’Flynn, a Cork property developer, and BlackRock Real Estate, a global fund manager, struck a deal on acquisition of a site in Dublin’s docklands, which is planned to be developed with student accommodation company Victoria Hall, the Irish Times reports.
The complex is planned to accommodate 935 student beds. It will have two blocks with seven storeys. Each unit will contain from three to eight beds, twin and single study units. Besides of that, there will be a commercial retail floor space with an area of 866 square meters and communal facilities with an area of 866 square meters.
The sale price for the site exceeded €20 million. The total development cost will reach €100 million.