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McAleer & Rushe signs £70m student digs deal

9 Feb 16 McAleer & Rushe has entered into an agreement with Queen’s University Belfast to develop 1,200 student bedrooms on two of its city centre sites.

The proposed McClintock Street scheme
The proposed McClintock Street scheme

McAleer & Rushe has committed to delivering the completed buildings to the university by summer 2018, subject to planning permission, in a deal estimated to be worth just over £70m.

A 476-bed scheme on McClintock Street in Belfast 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 deals in Northern Ireland for many years. It follows on from the success we had with Belfast City Council to develop a 100,000 sq 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.”  

McAleer & Rushe entered to the student accommodation sector five years ago and is on target to deliver 7,500 student bedrooms across the UK for student housing providers such as Unite Students and Threesixty Developments.

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MPU
MPU

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