Interserve-led student accommodation job price soars as scheme reaches financial close

By Jonathan Owen2018-08-20T06:01:00

The £105m project originally had a pricetag of £85m and was due to start in April

A £105m project in which a consortium being led by Interserve is to finance, design, build and operate two colleges for Durham University, with accommodation for a thousand students, is suffering major cost overruns and delays.

Interserve, who was announced as the preferred bidder on the scheme last October, announced today that financial close on the deal has been reached.

It is leading a consortium including fund and asset management firm Equitix and student accommodation developer and operator, Campus Living Villages UK (CLV).

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community