Balfour Beatty Wins £45m Aberystwyth Student Halls Deal
Balfour Beatty has been named as the preferred bidder for Aberystwyth University’s £45m student accommodation project, beating rival bidder Miller Construction. The 32-year concession contract involves the design, build and maintenance of accommodation for 1,000 students. The circa £45 million pound scheme will be located on Penglais Farm, on land immediately behind the existing award winning Pentre Jane Morgan student village and within walking distance to the University’s Penglais campus.
Balfour Beatty will provide 10% of the required equity in the project, which is expected to reach financial close in mid-2013. The deal brings Balfour Beatty’s tally of student accommodation design and build contracts to more than £120m, including the University of Edinburgh’s £110m student accommodation project.
Balfour Beatty CEO Designate, Andrew McNaughton, said “We are delighted to have been selected as preferred bidder for this long-term contract in the student accommodation sector, our second success in this area in five months. We look forward to working with the local supply chain to deliver this project.”