Balfour Beatty appointed preferred bidder for £110 million student accommodation project
28 August 2012
Balfour Beatty, the international infrastructure group, has been appointed preferred bidder for the University of Edinburgh’s £110 million Holyrood Postgraduate Student Accommodation and Outreach Centre project.
The 50-year concession contract involves the design, build and maintenance of student accommodation facilities for the University of Edinburgh. The project will provide state-of-the-art accommodation facilities for 1,160 postgraduate students, as well as an outreach centre which will become the focal point for the University’s community-based teaching activities and continuous professional development courses.
Energy for the facilities will be provided by the University’s Combined Heat and Power Energy Centre.
Balfour Beatty will invest 100% of the required equity, in the project, which is expected to reach financial close in spring 2013.
Commenting today, Ian Tyler, Chief Executive, said: “We are delighted to have been selected as preferred bidder for this long-term contract in the student accommodation sector, which is a key area of focus for us. We have worked with the University of Edinburgh on numerous projects over the past 18 years and look forward to supporting them in realising their long-term aspirations to enhance the postgraduate student experience.”
This project builds on Balfour Beatty’s extensive experience in the student accommodation sector. Balfour Beatty currently has a portfolio of student accommodation design and build contracts across the UK amounting to over £120 million.
Nigel Paul, Director of Corporate Services at the University of Edinburgh, added: "This is an important project for the University and we are pleased to have reached this key milestone in delivering our plans for the Holyrood campus. Balfour Beatty’s involvement can help us create additional opportunities and enhance the experience and engagement of our growing number of postgraduate students by providing a good mix of state-of-the-art accommodation types with excellent support and social spaces."
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Notes to Editors:
1. Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.