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 Future Generation’s first outside of the UK and marks the start of a major European student accommodation development programme.
The Cola Factory, a former bottling plant for Coca-Cola, will include 600 high-quality bedrooms together with Future Generation’s signature sky lounge.
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, with students enjoying air conditioning, the latest Samsung kitchen appliances, Wi-Fi, virtual reality headsets and access to state-of-the-art mobile phones.
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.”
Future Generation also has schemes under development in Sheffield, Colchester, Guildford, Nottingham, Loughborough, Leeds, Hackney-Wick and Cambridge, with 10,000 beds across 25 locations planned over the next five years.
Future Generation, a joint venture between Southern Grove and Tadhamon Capital, is enhancing the student experience by changing the way students live and interact with each other.
Its student accommodation schemes are architectural led offering a mix of bed space and public areas that include sky lounges, on-roof sports facilities and platforms for networking.
In October 2018, Future Generation’s approach was recognised by trade magazine Property Week, which shortlisted the firm for its ‘Innovation of the Year’ award at the annual Student Accommodation Conference and Awards.