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29/07/2024
Consortium Named To Redevelop Manchester Campus
Viridis, a consortium of Equitix (infrastructure investor, developer and manager), GRAHAM (equity and construction) and Derwent FM (facilities management), has been named as preferred bidder and delivery partner to redevelop the University of Manchester’s Fallowfield Campus redevelopment under a Design, Build, Finance and Operate (DBFO) model.
This selection followed a competitive tendering process and represents an important step towards a significant upgrade of the University’s student accommodation offering.
The University and Viridis consortium will now work together to further develop its DBFO delivery plans with the aim of reaching financial close by summer 2025.
The redevelopment will create modern, high-quality, purpose-built student accommodation on the Fallowfield campus. It forms part of a phased redevelopment to increase the supply of modern bedrooms and student socialising spaces to provide a supportive residential experience.
The University of Manchester's proposal to redevelop the Fallowfield Campus to provide more high-quality, modern student accommodation was approved by Manchester City Council Planning and Highways Committee in January 2024.
The approved plans encompass the redevelopment of Owens Park, Oak House and Woolton Hall to meet the demand for student bedrooms in inclusive, safe and sociable surroundings.
Located near the University's main buildings, the site is well-connected and provides students with a wide range of support services to ensure a world-class student experience.
On completion, the wider Fallowfield campus will offer up to 5,400 student beds by replacing the existing older accommodation on-site and delivering 3,300 updated bedrooms to meet the growing demand for high-quality, modern bedrooms across the popular campus.
The redevelopment will be delivered in multiple phases. Demolition of Owens Park Tower and surrounding buildings, which have been closed for several years, is ongoing and due to complete early in 2025.
Dr Simon Merrywest, Director for the Student Experience, University of Manchester said: "We are delighted to have reached another key milestone in the progression of our plans for the Fallowfield Campus Redevelopment with the selection of Viridis as preferred bidder and our delivery partner. Clearly, there remains a lot of work to do in order to reach financial close on this exciting programme by summer 2025.
"As we have said previously, these plans show our commitment to providing our new and returning students with modern, high-quality accommodation. This much needed update to one of our most popular student campuses will help us to continue to meet the needs of our student population by delivering well-connected, serviced, modern accommodation in a supportive and inclusive environment.
"As we progress, we will continue to work with our Fallowfield neighbours and local neighbourhood managers so that both our students and the surrounding community can benefit as much as possible from the redevelopment project."
Achal Bhuwania, Equitix CIO said: "Delighted that an Equitix consortium has been selected to support the University of Manchester in its next stage of growth and development, to provide a world-class student living experience. This is further testament to the proven capabilities and commitment to UK greenfield infrastructure as well as supporting British supply chain partners. This win was achieved through our relentless focus on building trust and long-lasting relationships as well as providing best in class solutions with core focus on sustainability and value for money."
This selection followed a competitive tendering process and represents an important step towards a significant upgrade of the University’s student accommodation offering.
The University and Viridis consortium will now work together to further develop its DBFO delivery plans with the aim of reaching financial close by summer 2025.
The redevelopment will create modern, high-quality, purpose-built student accommodation on the Fallowfield campus. It forms part of a phased redevelopment to increase the supply of modern bedrooms and student socialising spaces to provide a supportive residential experience.
The University of Manchester's proposal to redevelop the Fallowfield Campus to provide more high-quality, modern student accommodation was approved by Manchester City Council Planning and Highways Committee in January 2024.
The approved plans encompass the redevelopment of Owens Park, Oak House and Woolton Hall to meet the demand for student bedrooms in inclusive, safe and sociable surroundings.
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Located near the University's main buildings, the site is well-connected and provides students with a wide range of support services to ensure a world-class student experience.
On completion, the wider Fallowfield campus will offer up to 5,400 student beds by replacing the existing older accommodation on-site and delivering 3,300 updated bedrooms to meet the growing demand for high-quality, modern bedrooms across the popular campus.
The redevelopment will be delivered in multiple phases. Demolition of Owens Park Tower and surrounding buildings, which have been closed for several years, is ongoing and due to complete early in 2025.
Dr Simon Merrywest, Director for the Student Experience, University of Manchester said: "We are delighted to have reached another key milestone in the progression of our plans for the Fallowfield Campus Redevelopment with the selection of Viridis as preferred bidder and our delivery partner. Clearly, there remains a lot of work to do in order to reach financial close on this exciting programme by summer 2025.
"As we have said previously, these plans show our commitment to providing our new and returning students with modern, high-quality accommodation. This much needed update to one of our most popular student campuses will help us to continue to meet the needs of our student population by delivering well-connected, serviced, modern accommodation in a supportive and inclusive environment.
"As we progress, we will continue to work with our Fallowfield neighbours and local neighbourhood managers so that both our students and the surrounding community can benefit as much as possible from the redevelopment project."
Achal Bhuwania, Equitix CIO said: "Delighted that an Equitix consortium has been selected to support the University of Manchester in its next stage of growth and development, to provide a world-class student living experience. This is further testament to the proven capabilities and commitment to UK greenfield infrastructure as well as supporting British supply chain partners. This win was achieved through our relentless focus on building trust and long-lasting relationships as well as providing best in class solutions with core focus on sustainability and value for money."
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