Balfour Beatty wins University of Edinburgh contract

Balfour Beatty, the infrastructure group, has been appointed preferred bidder for the University of Edinburgh's post-graduate student accommodation project.

The 50-year concession contract, worth £110m, involves the design, build and maintenance of student accommodation facilities for 1,160 students, as well as an out-reach centre which will become the focal point for the University's "community-based" teaching activities.

Balfour Beatty will invest 100% of the required equity in the project, which is expected to reach financial close in spring 2013.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

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

Sign up

Ian Tyler, Balfour Beatty's Chief Executive said: "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."

Balfour Beatty's share price had risen 0.6% just after the open.

BS