Balfour Beatty preferred bidder for university accommodation project
Infrastructure company Balfour Beatty on Monday said it has been appointed as the preferred bidder for a 45m-pound student accommodation project at Aberystwyth University on the Welsh coast.
Infrastructure company Balfour Beatty on Monday said it has been appointed as the preferred bidder for a 45m-pound student accommodation project at Aberystwyth University on the Welsh coast.
The project involves a 32-year concession contract for the design, build and maintenance of student accommodation facilities for the university.
Located adjacent to the university's main campus, it will provide accommodation for 1,000 students along with learning and communal facilities.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The FTSE 250 company will invest 10% of the required equity in the project, which is expected to reach financial close by mid-year.
"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," Chief Executive Officer Designate, Andrew McNaughton, said:
"We look forward to working with the local supply chain to deliver this project."
Balfour Beatty currently has more than £120m worth of build contracts for UK study accommodation including a £110m project for the University of Edinburgh.
Shares rose 0.30% to 271.40p at 08:24 Monday.
RD
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published