Falmouth University has kicked off procurement for its new student accomodation development, which could be worth as much as £60m.
The development, which has obtained outline planning consent for up to 1,049 bedspaces at the university’s Penryn campus, will be delivered under a design, build, finance and operate model.
The delivery of the bedspaces will be under a phased model, with between 400 and 500 bed spaces under phase one. This first phase is set to be completed for the beginning of the 2018/19 academic year.
Following the delivery of phase one, the university will have the option of extending the successful bidder’s contract to cover the design and build of phase two, which will include the remaining 500 bedspaces. This phase would be completed and ready for occupation at the beginning of the 2020/21 academic year.
Once the design and build phase is complete, the winning bidder will deliver hard and soft facilities management services for the student accomodation. The duration of the contract is a minimum of 40 years, up to a maximum of 50 years, from the completion of the first phase of the project.
Bidders will also have the option of using FX Plus (a joint venture owned by Falmouth University and the University of Exeter) to deliver some or all of the soft FM services.
In total, the university expects the scheme to be worth £25m and £60m.
Midas won the most recent student accomodation development contract at the university’s Falmouth campus in 2011.