University Partnerships Programme (UPP) has been appointed as preferred bidder to deliver a new student accommodation scheme for the University of Hull valued at around £130 million.
The 43-year partnership between the University and UPP will provide a further 1,450 students with a room, helping to meet the growing demand for high quality, on-campus accommodation.
The scheme will comprise a mixture of new build and estate transfer and UPP will raise the required investment and handle the design, construction and operation of the scheme. The construction value of the project is more than £80 million.
This latest partnership boosts UPP’s portfolio to around 31,500 rooms through long term partnerships with 15 leading universities across the UK.
Once the transaction is complete, UPP will have invested approximately £2.2 billion in universities across the UK since 1998, demonstrating the appetite amongst long term institutional investment for the higher education sector.
Sean O’Shea, Group Chief Executive of UPP, said: “We are committed to driving investment into the UK’s higher education sector and plan to invest a further £1 billion into universities over the next two years that will help deliver world class infrastructure and continue attracting the brightest and best students from across the world.”
Stephen Willis, Chief Finance Officer at the University of Hull, said: “The bold transformation well under-way on campus is a critical element in ensuring an outstanding student experience and a huge statement of confidence in the future of both the University and the city of Hull. We’re proud to be investing so significantly in making Hull a highly desirable place to live, work, study, visit and invest.”
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