The future of the Groody Student accommodation village in Castletroy may be in doubt following the decision by Bank of Scotland (Ireland) to pull out of the Irish market.
According to reports the bank has appointed a receiver to the student village in a bid to get back nearly 15 million euro that it had put into the development.
“BoSI has appointed Brian McEnery, a senior partner with Limerick accountancy firm Horwarth Bastow Charleton, as receiver over the property, which is controlled by Clare developer Peter Stritch.
An open day for prospective students will go ahead as planned next weekend.”
Via SBP.
It’s expected the village, which can accommodate hundreds of U.L students, will continue to operate while in receivership.
The U.L students union had stated Friday the village would operate as normal saying there would be “no effect on bookings for the coming year”.
Bank of Scotland Ireland announced last week it had decided to exit the Irish market and will no longer offer banking activities in Ireland from the end of December this year.
It would be a disgrace that this is alowed to happen. i hope it doesnt cease operating.
A lot of students are just moving into these houses.