Balfour Beatty is shortlisted for the development of a student village. This development set by Royal Holloway, University of London will happen at Rusham Park in Egham, Surrey. Balfour Beatty will design, build, finance and operate a new 1,400 room student village.
This is a 50-year concession contract while in addition; the company will look after the existing 621-bed George Eliot student accommodation complex in London. The contractor will be working alongside Student Living by Sodexo as the operator.
The estimation costs of £130m are set for the design and build part of the contract. Balfour Beatty plans to have the curtain walling, bathroom pods and other components made off site in factories. Balfour Beatty Investments will invest 85% of the equity to finance the project.
Royal Holloway is investing the 15% for the project and the construction is expected to start soon after financial close in early 2022. The total completion of the project is scheduled for September 2024.