Future Generation, a Southern Grove company, has acquired The Cola Factory in Cork, Ireland, to create a flagship 600-bed student accommodation scheme. The acquisition is the company’s first deal outside of the UK and marks the start of a major European student accommodation development programme. The purchase price was not disclosed.
The Cola Factory is a short walk from University College Cork and will boast stunning views across the River Lee. The scheme will feature the latest technology provided through Future Generation’s exclusive partnership with Samsung. Work on the scheme is expected to start in Spring 2019 completing in time for the 2021 academic year.
Andrew Southern, Chairman, Future Generation said: “Ireland is one of the fastest-growing destinations for international students in the EU and we are thrilled to kick-off our European development programme here in Cork. Our vision and plans for the Cola Factory will certainly put the fizz back into student housing in Cork. Importantly, it marks the first in a series of European student housing schemes, with a 300-bed development in Milan to complete before the end of 2018 and with further schemes in the pipeline in Galway, Limerick, Prague and Venice.”