BALFOUR BEATTY HAS JUST STARTED WORK ON A 1900-BED STUDENT ACCOMMODATION SCHEME FOR SUSSEX UNIVERSITY AFTER CLOSING A 54-YEAR DESIGN, BUILD, FINANCE AND MAINTAIN DEAL.
The West Slope Residences is the next stage in the University's campus modernisation plan, which saw Balfour deliver the East Slope Residences project back in 2020.
Balfour Beatty Investments will invest £32m to take 81% of the project equity, with the University of Sussex acting as a co-investor providing the remaining 19%.
In addition, Balfour Beatty Investments has provided the funding strategy with £171m of wrapped bond financing raised through a private placement.
The project also includes building a health and wellbeing centre, catering and shops for students.
Balfour Beatty has adopted offsite manufacturer for the project, building modular steel frame and bedroom units in a controlled factory environment.
Ion Appuhamy, managing director of Balfour Beatty Investments, said: "The West Slope Residences is the most ambitious development programme the University of Sussex has undertaken in recent years, and will significantly contribute to and enhance the student experience.
"Building on the success of the East Slope Residences project, we now look forward to providing an additional campus for students whilst simultaneously showcasing our extensive experience in the design, funding and construction of high-quality accommodation and amenities."
Balfour Beatty has built a portfolio of nearly 7,000 beds in development or operation across the UK, based on an end-to-end offer from development and design, through to financing, construction, and maintenance.
Original Source: Balfour starts £171m Sussex Uni student DBFO job
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