Balfour Beatty Completes £32 million Foundry Courtyard Student Accommodation Complex
07 August 2017
Foundry Courtyard, the brand new £32 million student accommodation complex in Glasgow, is now complete and ready to receive the first students. Balfour Beatty’s construction team has delivered the residences to a high standard of finish within a challenging twenty-one month construction programme.
The accommodation, which provides 536 en-suite bedrooms, comprising of a mixture of 70 cluster flats and 149 studios, is situated on Kennedy Street, less than five minutes’ walk from Strathclyde University and City of Glasgow College, and just two minutes’ walk from Glasgow Caledonian University. The development also features a gymnasium, cinema room, study pods and a generous social space with games area, together with a secure private courtyard, basketball court and an external gym trail.
Ian Woosey, Investment Director for the student accommodation sector, Balfour Beatty Investments, commented: “We are looking forward to welcoming the new students to their new accommodation for the start of the academic year. The feedback we have had from the students who are viewing and booking into the new facilities is that they love the stylish communal areas and are looking forward to enjoying the generous outdoor space between the buildings. The accommodation truly offers a variety of amenities to enable students to enjoy every moment of their education.”
The complex will be managed by accommodation provider Fresh Student Living and will welcome students for the coming academic year, with the first students arriving in August.
Jane Crouch, Managing Director of Fresh Student Living commented: “We are delighted to be managing Foundry Courtyard on behalf of Balfour Beatty, offering an excellent range of en-suite accommodation from shared flats to penthouse studios with great views. Along with the amazing interior designs we will be adding the personal touches with our friendly and knowledgeable staff to make every student feel at home from the minute we open our doors this August.”
Foundry Courtyard is Balfour Beatty’s first project for the direct let market as a developer of student accommodation. Balfour Beatty’s developer role included site purchase, planning, design, construction and operation of the scheme. All funding and finance for the scheme has been provided by Balfour Beatty.
Image: Social space and games area within the Foundry Courtyard Complex
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Notes to editors:
• Balfour Beatty Investments is a global infrastructure investor operating in the UK, US and Canada. We provide the investment capability to deliver complex infrastructure projects. Over the past 22 years, Balfour Beatty Investments has established itself as one of the largest investors in the PPP industry, building a portfolio of 69 projects worldwide, predominantly in the UK and North America.
• In recent years, Balfour Beatty Investments has diversified into new markets including student accommodation, private rental sector housing (multi-family housing in the US) and generation and transmission of renewable energy. We have recently expanded our approach from a PPP contractor to a broader developer and investor.
• Balfour Beatty is developing a leading position in the higher education market, delivering a broad portfolio of infrastructure projects. These include student accommodation, academic facilities, arenas and other campus projects. Working with various universities, local communities and local supply chains, Balfour Beatty delivers high quality, sustainable accommodation that enhances the student experience, whilst also offering full-service residential property management. Clients benefit from the close working relationship between the investment, construction and management service teams, meaning Balfour Beatty can offer customised solutions for each college, university and their students.
• Balfour Beatty has been operating in Scotland for over a century. Today, the company employs 2,000 people across Scotland and works with a supply chain that includes a substantial proportion of local businesses.
• The company’s construction business recently completed the award winning Holyrood Student Accommodation development, providing 1,180 student beds within the World Heritage Site of Holyrood in the City of Edinburgh, and also St Peter Street student accommodation in Aberdeen.