Work will begin this spring on a new 600-bed student apartment complex on the former Coca-Cola bottling plant on the Carrigrohane Straight Road after the development was acquired by a UK development company.
Future Generation, based in London, has acquired the former cola factory, to create a flagship 600-bed accommodation scheme.
Planning permission was granted in 2017 to a Cork company to demolish the bottling plant and build 92 apartments with 484 beds in buildings ranging from four to seven storeys.
The site was cleared but construction work of the new development has yet to commence. Last month a new planning application was lodged to modify the existing plans including the removal of a basement car park.
Future Generation said they have now acquired the site with plans to develop the site to accommodate 600 beds saying the former cola factory is a short walk from University College Cork and will boast stunning views across the River Lee.
Work on the scheme is expected to start in Spring 2019 completing in time for the 2021 academic year.
They said the scheme will feature the latest technology provided through their partnership with Samsung, with students enjoying the latest Samsung kitchen appliances, wi-fi, virtual reality headsets and access to new mobile phones
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.”