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Equitix and ENGIE Secure New Accommodation Deal with Kingston University

19 Oct 2018

A consortium, comprisingleading investors into UK student accommodation Equitix and ENGIE, has beenselected as the preferred bidder for Kingston University’s studentaccommodation with an overall funding requirement of c£100m.

Named ‘The ResidencesProject’, this development will see the refurbishment of the University’s KingstonHill and Seething Wells halls of residence. With innovative architecture andcareful planning, the project will comprise 1,332 new student bedrooms, therebyincreasing the overall number of bedrooms at these sites by 116.

The negotiations that will now take place will cover theconsortium taking responsibility for all aspects of the development, fromsecuring the project financing to the construction and the ongoing managementand maintenance of the facilities.Atcontract close, ENGIE will provide Facilities Management services to both sitesfor 50 years, supported by Fresh Student Living who will provide front of houseservices.

Keith Brennan, Registrar and University Secretary said: ‘Fromthe outset, the quality of the Kingston Student Living’s proposals shonethrough, underpinned by the clear enthusiasm of the team involved.  TheUniversity were looking for a fresh approach for our student accommodation atthese sites and a team that we could work with as long term partners for the benefitof our students and we look forward to working closely with Equitix and Engie.’

Geoff Jackson, CEO of Equitixcomments: “We are delighted to add this prestigious project to our existingstudent accommodation portfolio and look forward to working closely withKingston University to help it deliver its vision for top-quality studenthousing”.

Sam Hockman, Chief Operating Officer for ENGIE’s Places& Communities Division South, said: “We have a comprehensive background inthe delivery of state-of-the-art student accommodation and our widescalecapabilities in energy, services and facilities management, means we are wellpositioned to bring Kingston University’s vision to life.  Students will benefit from top of the range,energy efficient facilities and we are delighted to be partnering theuniversity and Equitix to enhance their university experience.”

ENGIE has confirmed refurbishment and building work islikely to commence in June 2019, with an anticipated completion date of August 2021.