Subscribe to our free fortnightly newsletter and stay ahead with the latest news in HE

Uliving to finance £67.5m student accommodation scheme

The new student accommodation will be developed at University of Essex and will include 643 new bedrooms

Posted by Lucinda Reid | June 03, 2017 | Facilities

Uliving, the student accommodation developer and operator, has finalised agreements to finance a new £67.5 million student accommodation development for the University of Essex in Colchester.

The Copse, which will see the creation of 643 new student bedrooms, is being funded through an index-linked wrapped bond placement. Equity partners together with Uliving are Equitix and Centro Place Investment; the credit enhancer is Assured Guaranty; the bond purchaser is Pension Insurance Corporation; and the bond arranger is TradeRisks.

The Copse continues Uliving’s partnership with the University of Essex to upgrade its student accommodation offering. Having refurbished 780 existing bedrooms as part of The Quays and developed 648 new bedrooms as part of The Meadows, this new phase links in with the previous buildings and is the latest addition to the University’s Knowledge Gateway, a research and technology park at its Colchester Campus.

Nicolas Guérin, Uliving’s Board Director, said: “Finalising this innovative debt package is a major step forward for this project, which continues our partnership with the University of Essex and will see us further expanding its accommodation offer and improving its student experience. With financial close now reached and early works underway on site, I look forward to seeing this exciting project brought to fruition.”

Work on the project is set to complete in September 2018. Bouygues UK is the main contractor and early works are already underway on site.

Chris Oldham, University of Essex, added: “We are committed to providing a first-class living and learning experience for the growing number of students who choose to study at the University of Essex. Providing high-quality, purpose-built on-campus accommodation is at the heart of that commitment and we’re pleased this latest development has received financial backing."

Subscribe to our free fortnightly newsletter and stay ahead with the latest news in HE

Related stories

Content (and connectivity) is king

The best of Student Accommodation 2017

Gloucester approves new student housing

A new year on campus

Student Accommodation Awards return this December

CityBlock completes Reading student accommodation

Happy on the inside, happy on the outside

Accommodation key to keeping students happy

LK2 urges developers to 'return to basics'

University of Essex announces new Chancellor

Market place - view all

ViewSonic

ViewSonic® Corporation, headquartered in Walnut, California, is...

Red sky

We’re the UK’s leading independent solar installer, hel...

AVG

AVG Antivirus offers a range of products that are ideal for Educati...

Monitor IT

The cashless campus is becoming more of a reality. Universities and...

Capita

We're the UK's leading provider of business process outsourcing and...

S&C Slatter

S&C Slatter have over 20 years experience as specialists in constru...