Plans for a new 870-bedroom purpose-built student accommodation (PBSA) scheme at Murray’s Exchange adjacent to the new Transport Hub in Belfast city centre have been announced by Elkstone.
With over 85,000 students enrolled across Queen’s University Belfast, Ulster University and Belfast Metropolitan College, the scheme would address the continued demand for student accommodation.
Indeed, latest industry reports suggest that there will still be a shortfall of almost 5,000 beds in the city after PBSA schemes that currently have planning consent are delivered.
The residential units at the proposed Murray’s Exchange scheme will include a mix of clusters, with single bedrooms including ensuites, a shared kitchen, living and dining space and self-contained studios with private kitchens.
The property will include an internal amenity space with a wide range of modern wellness facilities such as a gym, cinema room, study room, and a social hub. Situated beside Belfast’s Grand Central Station transport hub, the site offers ideal accommodation for students travelling to Belfast from across Northern Ireland and beyond.
Ciarán McIntyre, Elkstone Co-Founder and Head of Real Estate, said:
“Whilst Murray’s Exchange was constructed in 1900, a large part of the site has laid vacant for almost 20 years. Our plans to develop a PBSA scheme would not only assist in bolstering the supply of much needed student beds in the city but would also assist in revitalising the rich history of the development site.
“With the adjacent transport hub at Grand Central Station set to bring a new dimension to the area, the PBSA scheme will deliver a wide range of economic and community benefits, including increased footfall, more employment opportunities, and enhanced activity for surrounding businesses.
“Located close to both Queen’s University and Ulster University’s Belfast campus, Murray’s Exchange is an exciting proposal for Belfast that will allow students to reside in modern, city centre facilities.”
The development site was formerly occupied by Murray’s Tobacco Factory, a portion of which has been listed and developed for office accommodation. The remainder of the site not currently in use has been vacant since 2005 when Murray’s Tobacco Factory announced its closure.
Further information regarding the Murray’s Exchange proposal will be provided in the coming weeks, as Elkstone enter a community consultation period that will include public information events.
With a rich pedigree in delivering PBSA across the island of Ireland in Dublin, Cork and Galway, Elkstone will welcome the first students to its first Northern Ireland PBSA scheme, Bradbury Place, this September. Rooms are available to book now through its managing operator Mezzino.