A new 99-bed purpose-built student accommodation (PBSA) development is to be built on a 0.5 acre site in Stoneybatter, Dublin.

Crosslane Student Developments acquired the site for its new development.

This site is the Company's second PBSA scheme in Ireland, following the acquisition and development of Carman's Hall, Dublin, a 207-bed PBSA scheme due to be complete for the start of the 2019/20 academic year.

Crosslane will work with local suppliers and contractors, as well as the local planning authorities to ensure the company creates long-term employment and assist in developing the local and wider community in a responsible manner.

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Lisa Timberlake, Senior Development Manager, Crosslane Student Developments, said: "Crosslane has been assessing the student accommodation market in Ireland for several years and is pleased to make our second investment in Ireland and play a part in helping to support Ireland's reputation as a stable and growing economy and a leading university location. We look forward to expanding Crosslane's business in Ireland in a responsible way.

"The student and wider residential market in Dublin continues to suffer from persisting demand/supply imbalances and we look forward to helping alleviate those pressures, as well as creating jobs and infrastructure for the long term."

(CM/MH)