Back to TFG Asset Management Press Releases

Equitix secures new accommodation deal with Durham University

15 Aug 2018

Equitix, a leading UK infrastructure manager and developer,alongside Campus Living Villages, a global operator and investor in studentaccommodation, today announce  financialclose of a major accommodation development project at Durham University.

The scheme – the Mount Oswald project – forms part of theUniversity’s strategy to deliver world-class research, education and widerstudent experience.  It will see theconstruction of two new college facilities totalling nearly 1,000 additionalrooms.

Over 700 of these will be en-suite bedrooms, arranged in amix of cluster flats of between eight and 12 students. The remaining rooms willhave shared bathroom facilities arranged in townhouses and studios.

Work will begin shortly and is expected to be completed in2020. Equitix will oversee all aspects of the development in a managementservices capacity, monitoring the construction and operation of the newresidences. Interserve Construction will undertake the construction services,with Campus Living Villages overseeing the day-to-day management of the facilitiesonce delivered.

Geoff Jackson, CEO of Equitix comments: “We are delighted toadd the Mount Oswald project to our growing portfolio of student accommodation.

“Durham is one of the oldest and most prestigiousuniversities in the UK and one of the few that has remained committed to theCollegiate system. The opportunity to develop two new college facilities insuch a historic institution is both extremely rare and exciting and we areconfident that Equitix is well positioned to provide students with top-qualityaccommodation that will enhance their university experience.”

Lisa Brown, Joint Head of Operations at Campus LivingVillages said: Lisa Brown, Joint Head of Operations at Campus Living Villagessaid: “We are thrilled to become a key operator at Durham University, aprestigious and world-renowned institution, further cementing Campus LivingVillages as a University Partnership business. We have the experience todeliver the best in student accommodation and look forward to continuing to puthis into practice.”

Professor Stuart Corbridge, Vice-Chancellor at DurhamUniversity, said: “Our ambitious University Strategy, 2017-2027 aims to ensurewe continue to deliver world-class research, education and wider studentexperience. The development of two college facilities at Mount Oswald,including a brand new College and a purpose-built new home for our John SnowCollege, is a key project in delivering a wider student experience as good asanywhere in the world.

“We are pleased to have reached financial close and lookforward to work beginning on site shortly.”