Interserve JV seals £105m Durham Uni DBFO deal

Aaron Morby 7 years ago
Share

An Interserve-led consortium has reached financial close on a £105m project for Durham University to finance, design, build and operate two new colleges.

Mount Oswald scheme will involve building two new colleges
Mount Oswald scheme will involve building two new colleges

Interserve was announced as preferred bidder for the Mount Oswald project in October 2017 when it was billed as a £85m scheme.

The consortium also containing fund and asset management firm Equitix and student accommodation developer and operator, Campus Living Villages UK, will design, build, finance and operate two new college facilities under a 51-year concession.

The project will mark the first new Durham University college to be founded in the city since 2006.

Residential accommodation is limited to four storeys in height. The Hub and College Hearts are two storeys.

Interserve will be responsible for designing and building the two new college facilities – totalling 1,000-bed spaces – plus a feature new University hub building with 300-seat banquet hall, sports and music facilities.

Planned new hub building

Work will commence shortly on the University-acquired site just to the south of the city with the scheme due to be completed in 2020.

Debbie White, Interserve’s chief executive, said: “We are delighted to have reached financial close on this project and look forward to starting on site imminently.

“This project builds on our extensive experience in the further education sector and our strong 15-year relationship with Durham University.”

Latest news

Winners named for £2.6bn NHS SBS Modular 3 framework

Twenty-seven secure spots on health, education and resi framework
2 days ago

Leeds kicks off homes vision for Elland Road regeneration

Council plans to deliver 2,000 homes around United’s revamped stadium
2 days ago

Britcon targets £70m turnover after string of framework wins

Major AMP8 win and regional expansion fuel contractor’s biggest growth push yet
3 days ago

Go-ahead for 37-storey tower at Leeds Merrion Centre

Town Centre Securities to deliver over 1,000 student rooms
3 days ago

Taylor Wimpey fined £800k after apprentice falls down stairwell

Teenage brickie injured after falling with pile of concrete blocks
3 days ago

Green light for life sciences buildings in campus expansion

Construction to start this year on Wellcome Genome Campus in South Cambridgeshire
3 days ago

Morgan Sindall scores £63m twin wins on flagship leisure projects

£36m Southampton and £27m Bishop Auckland jobs get underway
3 days ago

Hill and L&G partner on £450m Coventry city centre revamp

Partners to deliver opening phase of 991-home City Centre South scheme
3 days ago

Graham snaps up sector veteran to lead office fit-outs

Peter Allan most recently held director roles at ISG and Overbury
3 days ago

Construction growth of 0.9% bucks wider shrinking economy

Construction output climbs for third straight month
4 days ago

Crest Nicholson returns to profit

House builder back in the black after huge fire safety provisions last year
4 days ago

JN Bentley profit surges as revenue tops £500m

Surging water work and plant investment underpin £19m profit
4 days ago

Willmott Dixon bags £49m East London business school job

Builder secures second job in a year for Queen Mary University
4 days ago

Another extension for competition probe into house builders

Spotlight will stay on seven housing giants for another few months
4 days ago

Strike ballot for 1,500 Sellafield construction workers

36 contractors working on nuclear clean-up could be hit
4 days ago

WSP to buy Ricardo

Consulting giant to add another 2,700 staff
5 days ago

Infrastructure and major projects boost profits at Vp

Specialist construction, water and transmission sectors are star performers
4 days ago

TClarke jumps to top of M&E firms rankings

Growth in data centres and commercial refits creates optimism for year ahead
5 days ago

JRL plans Sutton 12-storey office to co-living revamp

St Nicholas House to be stripped back and reworked into high-rise homes
5 days ago

Plan to double affordable homes spend at centre of spending review

£39bn will be injected into social housing over 10-years
5 days ago

Lindum lands £44m automation centre contract

Construction to start this summer on Sutton-in-Ashfield site
5 days ago

Esh seals £160m sewer repairs deal with Northumbrian Water

Eight-year deal caps 25-year partnership with Northumbrian
5 days ago

Rolls-Royce wins race to build UK’s first small modular reactor

BAM Nuttall, Laing O’Rourke and Atkins are supporting Rolls-Royce-led consortium
6 days ago

Plans in for £100m Digbeth regeneration scheme

Developer Hartwell plans mixed-use project at former ironworks site
5 days ago

Founder retakes the reins in Reds10 leadership shake-up

Chief exec steps aside as founder returns to steer growth push
6 days ago

Sizewell C powers up as Government commits £14bn funding

Around 70% of contracts for 3,500 British suppliers as construction to gear up
6 days ago

Plans in for 3,000-capacity TraffordCity ice arena

Second ice rink for Trafford as Peel pushes leisure-led regeneration
6 days ago

Walker Modular wins pods deal at £90m Greystar site

Latest package win with McAleer & Rushe on Birmingham student tower
6 days ago

Pre-pack deal rescues online building materials firm

Lords acquires £71m-turnover CMO from administrators for £1.8m
6 days ago

Russell WBHO lands £25m Oldham industrial deal

Next phase of scheme will deliver 13 distribution and manufacturing units
6 days ago

Contractor services