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JoeDavola

Dublin Road - 156 Room Student Accommodation

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I live just off the Dublin Road, and I see that despite objections they've been given the green light to build a 156 room student block:

http://www.bbc.co.uk/news/uk-northern-ireland-35762553

What effect, if any, do you think this will have to residents in and off the Dublin road? Personally I'm assuming that an extra 150+ students in the area at night are going to make it even nosier than before and even less suitable for residents who actually want to get a nights sleep - what does the rest of the NI forum think?

I also see that the new nightclub on Bankmore Street where Stiff Kitten used to be has been delayed it's entertainment licence after complaints from residents - interesting to see if that ever comes through:

http://www.belfasttelegraph.co.uk/news/northern-ireland/opening-of-belfasts-newest-nightclub-and-bar-delayed-for-council-investigation-34955642.html

Edited by JoeDavola

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The student build and hotel market to me is looking a bit bubbly. It looks like these projects are chasing credit rather than actual demand.

Looking at the room occupancy for Belfast (dropped 7% in 20016) I can't see the business case for 16 new hotels.

Similarly, I just don't see where student demand for all the extra bed space is coming from.

http://www.tourismni.com/Portals/2/TNI%20Hotel%20Occup%20June%202016.pdf

9 in 10 students here, live here.

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The student build and hotel market to me is looking a bit bubbly. It looks like these projects are chasing credit rather than actual demand.

Looking at the room occupancy for Belfast (dropped 7% in 20016) I can't see the business case for 16 new hotels.

Similarly, I just don't see where student demand for all the extra bed space is coming from.

http://www.tourismni.com/Portals/2/TNI%20Hotel%20Occup%20June%202016.pdf

9 in 10 students here, live here.

I had been wondering where all these extra students were coming from - after all why build all these rooms if there's no demand?

One guess had been that the increase in immigrants in the holylands/botanic mean that less students will live in those areas and move to these custom-built developments.

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Maybe coming from here

http://www.belfasttelegraph.co.uk/business/news/market-reacting-to-buytolet-reforms-35024353.html

Houses used for student lets are going on the market in growing numbers as a crackdown on buy-to-let takes effect, it's been claimed.

Mr Webb said Mr Osborne last year launched a "severe" raid on landlords when he scaled back the ability to offset mortgage interest against rental income. "Now, if you are a higher rate tax payer, the new tax will wipe out your gains if the mortgage interest is 75% or more of rental income," he added.

Good to see.

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I had been wondering where all these extra students were coming from - after all why build all these rooms if there's no demand?

One guess had been that the increase in immigrants in the holylands/botanic mean that less students will live in those areas and move to these custom-built developments.

Or they are building them because credit is available to build them.

We've seen this type of thing before. The type of build has just changed.

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Or they are building them because credit is available to build them.

We've seen this type of thing before. The type of build has just changed.

Sorry, I'm being thick here.

Do you mean that just because the government/banks have loaned them enough to build these things, they're throwing them up so that the various industries involved can make a few quid?

Surely there has to be private money backing this at some point, which is relying on a certain occupancy rate to get back what's been put in?

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Sorry, I'm being thick here.

Do you mean that just because the government/banks have loaned them enough to build these things, they're throwing them up so that the various industries involved can make a few quid?

Surely there has to be private money backing this at some point, which is relying on a certain occupancy rate to get back what's been put in?

Queen's is building their own student residences whereas the poly is letting the private sector build their own schemes to meet the "demand". I don't think they are getting built because immigrants are living in the Holyland and new students want to move to custom build residences.

I think the developers have obviously put forward a business case to banks/VCs based on the UU move to its new site. I just don't see the demand for 3,000 student beds. I don't think this "boom" in student houses is solely local phenomenon either. I think it's UK wide. They obviously have yield projections, I just can see how they will meet them. Capital seems to be chasing yield here.

p.s you're not being thick, I'm not explaining it well.

http://pdf.euro.savills.co.uk/residential---other/spotlight--uk-student-housing-2015.pdf

Edited by 2buyornot2buy

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Queen's is building their own student residences whereas the poly is letting the private sector build their own schemes to meet the "demand". I don't think they are getting built because immigrants are living in the Holyland and new students want to move to custom build residences.

I think the developers have obviously put forward a business case to banks/VCs based on the UU move to its new site. I just don't see the demand for 3,000 student beds. I don't think this "boom" in student houses is solely local phenomenon either. I think it's UK wide. They obviously have yield projections, I just can see how they will meet them. Capital seems to be chasing yield here.

p.s you're not being thick, I'm not explaining it well.

http://pdf.euro.savills.co.uk/residential---other/spotlight--uk-student-housing-2015.pdf

OK thanks - yeah what I'm a bit skeptical about is surely these managed buildings will be far more expensive than 4 mates sharing a house, which is what most students do after first year anyway?

Be interesting to see what happens, but if I was a resident near one of the blocks I'd not be pleased?

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F*ck right off.

That's ridiculous. You could almost get an apartment for that.

They'd better hope there's lots of students with very rich parents. Even if there is, I think they'd still rather just share with 3 other mates and pocket the profit.

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http://www.belfasttelegraph.co.uk/business/news/luxury-13m-belfast-apartments-delayed-by-a-year-as-issues-with-cost-and-design-force-rethink-35036718.html

"Cost and design rethnk"

Obel tower, anyone?

EDIT: By that I mean, Obel started with luxury specs, and ended up with wall mounted electric heaters, because of financial issues. I'm gobsmacked that anyone buys apartments that haven't been built yet based on what we've seen in the past.

Edited by JoeDavola

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