Balfour Beatty has been appointed preferred bidder for the University of Edinburgh’s £110 million Holyrood postgraduate student accommodation and outreach centre project.
The 50-year concession contract involves the design, build and maintenance of student accommodation facilities for the University of Edinburgh.
It includes accommodation facilities for 1,160 postgraduate students, as well as an outreach centre which will become the focal point for the University’s community-based teaching activities and continuous professional development courses.
Energy for the facilities will be provided by the University’s combined heat and power energy centre.
Balfour Beatty will invest 100 per cent of the required equity, in the project, which is expected to reach financial close in spring 2013.
Chief executive Ian Tyler said: “We are delighted to have been selected as preferred bidder for this long-term contract in the student accommodation sector, which is a key area of focus for us.
“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.”