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Kier secures £27.4m student accomodation contract

Kier has been awarded a £27.4 million contract to build 850 units of student accommodation for the University of Bedfordshire at its Park Square Campus in Luton.

The development will be delivered in two phases between August 2011 and 2012 and will include a range of en-suite rooms and studios, as well as communal areas.

Barclays Corporate provided the £27.4m as senior debt finance to student accommodation developer Campus Living Villages, who appointed regional branch of Kier, Kier Marmott as construction partner.

Property relationship director for Barclays Corporate in Manchester Kevin Harwood, said: “Although the economic challenges are global, the property market remains local and there will always be opportunities.

“The student market is rather buoyant at the moment as student numbers continue to soar and the demand for quality new accommodation is also very high.”