Company that manages UCC's student accommodation sees profits rise 26%

The company is controlled by University College Cork and its latest financial year ran from October 1, 2023 to September 30, 2024.
The company that manages the student accommodation at University College Cork (UCC) posted a 26% increase in profit during its latest financial year as rent from students and summer lettings increased, new financial statements show.
Campus Accommodation (UCC) DAC manages the student apartment complexes owned by UCC.
The company is controlled by UCC and its latest financial year ran from October 1, 2023 to September 30, 2024.
According to the company's recently-filed financial statement, it generated a turnover of just under €13.3m during the financial year.
Administrative expenses, cost of sales, along with interest payable and other charges means the company recorded a profit of €2.88m as of the end of September.
During the financial year ending September 30, 2023, the company recorded a profit of €2.28m.
In the company’s breakdown of its turnover, it noted income of €9.57m from student rent — an increase from €7.57m the year prior.
Income generated from renting out accommodation during the summer period rose from €1.97m in 2023 to €2.5m in 2024.
During the year, a tenancy agreement was entered into with UCC for the Crow’s Nest student accommodation which generated an intercompany rent of €1.4m paid during the year.
The directors do not propose a dividend for the financial year.
According to the company, as of the end of September, it had net assets of €30.1m and net liabilities of €9.1m.
The company operates six student accommodation complexes for UCC.
UCC’s most expensive accommodation is at the Crow’s Nest which will cost students €8,450 for the academic year.
The facility is located at the junction of Victoria Cross and has 66 apartments all with en-suites.
The Crow's Nest student accommodation is not available to first-year students.
UCC’s University Hall accommodation costs students €6,206 for the academic year while its Victoria Mills costs €6,206.
Both of these complexes only offer rooms with en-suites.
Its Castlewhite Apartments complex costs between €3,756 and €5,439 depending on whether a single or a twin room is selected.
UCC’s Victoria Lodge accommodation would cost between €5,861 and €6,091 while Mardyke Hall costs between €5,861 and €6,091, depending on whether the room has an en-suite or not.
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