FTSE 250-listed infrastructure group Balfour Beatty are poised to be offered the contract for the University’s £120 million East Slope reconstruction project.
Balfour Beatty announced this morning that it had been appointed as the University’s preferred bidder for the lucrative student accommodation project, adding to their already large portfolio of student accommodation development across the world.
The move will mean that the construction company will work together in a 50 year partnership with the University of Sussex to design, build and maintain the planned 2,000 bedroom living space.
According to reports presented at the University Council meeting in the Summer, the preferred bidder for the project was due to be announced in December last year.
In a statement, Leo Quinn, Chief Executive of Balfour Beatty, said: “Following the revaluation of the portfolio last week, this project demonstrates the continued value our Investments business brings to the whole Group.
“We look forward to supporting the University with their growth ambitions and delivering on their sustainability targets.”
After years of deliberation, the University finally declared in 2013 their intention to demolish East Slope by Autumn 2016 to make way for the newly developed residences.
Construction of the project is expected to start in late 2016.
The University have been contacted for a response.
Read next week’s Badger for more.