Round Hill Capital, a real estate investment, development and asset management firm, has announced that funds advised by Round Hill and NBK Capital have acquired a one-acre site with planning permission in Cork, and will immediately proceed to construct a mixed-use project including 145 purpose-built student accommodation (PBSA) beds and facilities.

Round Hill and NBKC also plan the acquisition and development of further PBSA schemes in Cork, Dublin and Galway, that will deliver in excess of 1,200 beds.

The Cork site is close to the city centre, with easy access to University College Cork and Cork Institute of Technology. The building will be managed by Nido Student, Round Hill’s established operational platform and brand for European student accommodation.

John Vaudin, managing director of Round Hill Capital (Ireland), said: “Thanks to its growing economy, Ireland continues to attract increasing numbers of students, both locally and internationally, and we look forward to playing an integral role as Ireland grows into one of the world’s leading university locations. We are continuing to build on our residential-led property strategy across Ireland, bringing over €1 billion of dedicated capital to deploy into these sectors coupled with our expertise in investing in and operating student accommodation and residential assets across Europe.”