Lord Mayor of Dublin Nial ring turns first sod on Lidl development site
Lidl development finally starts in Ballymun
A unique development that will see a new Lidl supermarket, retail units and 364 state of the art student accommodation units has finally commenced. Turning the first sod of this exciting development The Lord Mayor of Dublin said “This unique development of the Lidl supermarket and student accommodation will provide a real boost to the local economy here in Ballymun and will also provide lots of employment opportunities. I know that this development will be the catalyst for further commercial investment in Ballymun which has been transformed into a vibrant and progressive suburb over the past few years.”
The mixed use scheme will encompass a separate Lidl store with additional office space and customer carpark and two linked blocks of student accommodation of six stories in height, rising to 10 storeys at the junction of Ballymun Road and Balbutcher Lane.
The “North Quarter” development will cater for 364 students bedrooms with additional facilities such as a gym, café, cinema room and study halls. The site is located close to the planned Ballymun Metro Stop and is ten minutes walking distance from Dublin City University.
The student residence scheme was brought to the market last year by CBRE on behalf of Lidl and has been forward sold to AIG Real Estate Investment for a sum in excess of the €46 million guide price.
Alan Barry, Lidl’s director of central services, thanked Dublin City Council and the local residents for their support during the planning process and commented that the project underlined Lidl’s ability to take on larger projects to expand their store network. He noted that this development “will be another major step in the renewal of Ballymun Town Centre”
AIG Real Estate Investment purchased the student accommodation units for €46m and speaking on behalf of AIG, Naveen Patha, UK & Ireland head of residential investments said:
“We are pleased to be working with Lidl on this high-quality student housing development in Dublin, where the demand supply gap is very acute. This project is well-sited, and will cater to students of Dublin City University as well as other universities in the city. Additionally, this project will ease pressure on local housing. We are investigating the potential for building new projects in this great city, which will add to our existing 2,500-bed student housing portfolio located throughout Sheffield, Leeds, Southampton, Cardiff, Bournemouth, and Coventry. This entire initiative builds on the asset management experience we have gained over the years. We look forward to working closely with Lidl and delivering this project for the 2020/21 academic year.”
Walls Construction Ltd have been appointed by Lidl as the Main Contractor and the development is scheduled to be completed in Autumn 2020.