Interserve PLC Interserve wins £105m Durham University project
17 August 2018 - 4:00PM
RNS Non-Regulatory
TIDMIRV
Interserve PLC
17 August 2018
News Release
17(th) August 2018
INTERSERVE CONSORTIUM WIN GBP105M PROJECT
FOR DURHAM UNIVERSITY
Interserve, the international support services and construction
group, and its consortium have reached financial close on a GBP105
million project for Durham University. The scheme - Mount Oswald -
forms part of the University's strategy to deliver world-class
research, education and a wider student experience. The
Interserve-led consortium announced that it was preferred bidder
for the project in October 2017.
The consortium, made up of Interserve, fund and asset management
firm Equitix and on-campus student accommodation developer and
operator, Campus Living Villages UK, will design, build, finance
and operate two new college facilities on a 51 year concession. The
project will mark the first new Durham University college to be
founded in the city since 2006.
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. Work will commence shortly with the
scheme due to be completed in 2020.
The project will mark the continuing of a 15-year relationship
between the University and Interserve. The facilities are being
built on a University-acquired site just to the south of the
city.
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.
Through our understanding and expertise in delivering market
leading education projects, we are proud to be supporting Durham
University to realise their University Strategy 2017-2027 by
delivering these world-class facilities".
Professor Stuart Corbridge, Vice-Chancellor at Durham
University, said:
"Our ambitious University Strategy, 2017-2027 aims to ensure we
continue to deliver world-class research, education and wider
student experience. The development of two college facilities at
Mount Oswald, including one brand new College and a purpose-built
new home for our John Snow College, is a key project in delivering
a wider student experience as good as anywhere in the world.
"We are pleased to have reached financial close and look forward
to work beginning on site shortly."
Ends
For more information contact:
Ian Green, Media Relations Manager, Interserve 07740 513535
Legal identifier number: 549300MVYY4EZCRFHZ09
This announcement contains inside information
About Interserve
Interserve is one of the world's foremost support services and
construction companies. Everything we do is shaped by our core
values. We are a leader in innovative and sustainable outcomes for
our clients and a great place to work for our people. We offer
advice, design, construction, equipment, facilities management and
frontline public services. Headquartered in the UK and FTSE listed,
we have gross revenues of GBP3.7 billion and a workforce of circa
75,000 people worldwide.
Website: www.interserve.com
For Interserve news follow: @interservenews
For construction news follow: @IRVconstruction
About Durham University
-- Durham is consistently ranked as one of the world's leading
universities as shown by its World Top 100 position in two
influential global league tables.
-- In the QS World University Rankings 2019, the University is
74th. In the Times Higher Education (THE) World University Rankings
2018, Durham is ranked 97th.
-- In national league tables, Durham is consistently recognised
as one of the top universities in the UK. The University is ranked
fifth in the Times and Sunday Times Good University Guide 2018,
fifth in the Guardian University Guide 2019 and sixth in The
Complete University Guide 2019.
-- A member of the Russell Group of leading research-intensive
UK universities. In the 2018 QS World University Subject Rankings
Durham University achieved its best results to date with nine
subjects in the top 50 and a total of 16 subjects in the top
100.
-- Ranked in the top 40 globally for the employability of its
students by blue-chip companies world-wide (QS World University
Rankings 2019)
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END
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