UK firm buys Belfast city site with plans for 475 student rooms
A UK property company has purchased a major city centre site which it will turn into a new 475-bedroom student development worth £37m.
Just last month the development at Great Patrick Street was awarded planning permission.
Now, London-based Olympian Homes, which has developed similar schemes, has bought the site.
Building is due to begin in July and is expected to be finished in July 2018. The firm says it will create up to 300 construction jobs during the course of the new build.
Simon Murray-Twinn, chief executive of Olympian Homes, said: "We are excited to be bringing forward this development in Belfast and to be contributing to the regeneration of this much neglected area of the city centre.
"The site is currently vacant and has been effectively isolated from the rest of the city by the major infrastructure that surrounds it.
"We have already appointed a local design and management team including Belfast-based Like Architects and will continue to procure locally.
"The development will also provide apprenticeship and youth training opportunities for the local community through a number of skills initiatives."
Around 7,500 student beds are currently at various stages of development across Belfast.
Almost 1,200 student rooms got the green light last month, after two major developments were given planning permission. That included the new Great Patrick Street site, and a 682-bedroom project at York Street by UK firm UniCiti. Three other proposals - including one large student development - were refused.
The knocked-back student plan was for a 408-bedroom development close to Library Street.
It's being predicted there will be an influx of Ulster University students over the course of the next two years as the university moves the bulk of its Jordanstown courses to the city centre campus.