The University of Birmingham has entered a long-term partnership with infrastructure investor Equitix and developer EQUANS to build low-carbon student accommodation at its Pritchatts Park Student Village.
The £157m (€184m) project to transform Pritchatts Park is being funded by Pension Insurance Corporation and will see existing accommodation refurbished and 496 new student rooms built, along with a multi-storey car park.
It is the University’s first low-carbon accommodation and will enable Equitix and EQUANS to expand their student accommodation portfolio.
Simon Bray, director of campus services at the University of Birmingham, said: “Outstanding global education is at the core of our mission; the University is passionate about investing in high-quality, affordable accommodation for our students to enhance their on-campus experience while they study with us.”
Hugh Crossley, CEO of Equitix, said: “We are delighted to work with University of Birmingham and be part of their continued growth and success, and are pleased to extend our strong track record in developing and operating outstanding accommodation that exceeds residents’ expectations.”
Jake Fellows, regional operations director at EQUANS, said: “EQUANS has a multifaceted offer which spans construction, regeneration, energy and zero-carbon technologies; so, we are perfectly placed to bring the University of Birmingham’s vision for a low-carbon, high-quality student campus to life.
“We are delighted to have reached financial close on this hugely significant project as the year draws to a close. Every partner involved in this deal is passionate about its success and our respective equity stakes in the scheme, speak to this.”