Pat Crean’s Marlet Property Group is looking to take advantage of the strong demand among investors for student accommodation with the sale of The Residence, the purpose-built 193-bedspace scheme his company has developed at Stoneybatter in Dublin 7. Located on Prussia Street and in close proximity to Technological University Dublin’s Grangegorman campus, the complex, which was completed in the summer of 2024, is being offered to the market by Cushman & Wakefield at a guide price of €42 million, reflecting an average of €217,000 per bedspace.

Arranged across seven low-rise buildings, the A2 BER-rated development comprises a mix of single (4 per cent), double (87 per cent), and twin ensuite rooms (9 per cent) arranged across 33 own-door clusters. The scheme’s amenities include a gym, games area, study spaces, lounge room, and landscaped courtyard gardens.

The demand for purpose-built student accommodation (PBSA) continues to grow here in Ireland and across Europe. Cushman & Wakefield’s 2025 European Living Investor Survey highlights the living sector − driven by long-term demographic trends and a shortage of quality assets − as a strategic priority for investors over the next five years, with student accommodation being identified as a key allocation within this sector.

Commenting on the sale of The Residence, Cushman & Wakefield say: “With ever-growing occupational demand in an under-supplied market and with ongoing constraints on new development, this investment presents a rare opportunity to acquire a high-quality PBSA asset.”