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Galliford Try bags £52.5m Elite student job

Galliford Try has won a £52.5m contract to build a student accommodation complex in Coventry.

The contractor will build three student blocks of three, 12 and 14 storeys for developer The Elite Group.

Two low-rise blocks will also be built as well as office and maintenance facilities for the accommodation management team.

The scheme will house 922 students in total.

The new project is the second such scheme Galliford Try is delivering in the city, following on from the £47.5m Godiva project for Coventry University.

In September, the contractor revealed it is no longer interested in large fixed-price infrastructure projects after its construction arm revealed a -5.9 per cent profit margin.

It revealed a £98m exceptional charge for the year to 30 June 2017 to settle legacy contracts, which the group defined as those contracted in 2014 or earlier and of which 80 per cent related to two joint venture infrastructure projects.

The company said one of the projects was now largely complete, while the other – which represented a larger proportion of the £98m costs – was due for completion in mid-2018.

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