Construction work has commenced this week to convert the former Montrose Hotel on Dublin’s Stillorgan Road into student accommodation for 192 residents from September 2014.
Montrose Student Residence, which is beside the UCD campus, will target third level and graduate students from third level colleges across the city, as well as international language students during the summer months.
The €22.5 million project is the first Irish development by Ziggurat Student Living, which said it plans to create over 1,000 student bed spaces in Dublin city over the next 5 years. Ziggurat was founded in 2009 by Jim Pike and Matthew McAdden.
Ziggurat and sister company Fawleybridge are managed by asset management company, Atelier Property Asset Management Ltd. Ziggurat is currently progressing further projects in Edinburgh and Newcastle, which it said will be worth £65 million when completed. Fawleybridge currently manages a total of 176 beds across two properties in Reading, Kings Road and Green Road.
The Montrose was originally part of the Jurys Doyle group but was bought by Superquinn in 2007. It had plans to build a supermarket on the site. Source: Business and Leadership.