A student accommodation development close to Belfast city centre has been acquired by London-based investors, just over a year after falling into receivership. The 393-unit student accommodation scheme, located between Royal Avenue and Carrick Hill, had been owned by the US-owned student accommodation business Novel. Originally launched by Chicago-based CA Ventures, Novel quickly expanded to a dozen properties in the UK, Spain and Ireland, including two in Belfast. Both sites had been operated by Novel Student when they opened for tenants in 2022. The are now under new management following CA Ventures’ decision to close its Novel Student business in late 2024.