Contemporary student accommodation facilities for 1,000 students adjacent to Aberystwyth University’s main campus including 102 studio flats specifically designed for postgraduate students.
The design was developed in dialogue with the University and inspired by the landscape and architecture of rural Wales. The new development features a series of three storey buildings with flats for six or eight students living in self-catered accommodation.
A central hub will also provide a range of social, learning and living functions including launderettes, bike stores and a communal space for clubs and societies. There will also be a new grass sports pitch.
As part of the partnership with the University, students have been involved in the process of helping ensure that the new residences reflect their aspirations and the priorities of UMCA (the Welsh Students’ Union) and the Students’ Union. This helps to ensure the entire development works to enhance the student living experience.
Construction delivery
We acted as the design and build contractor for the project.
Innovative project finance solutions
We worked with Aberystwyth University to assess the funding options available under different risk scenarios. Following a wide-ranging market assessment, we proposed that a pension funding route offered the best value for money. This ensured there was no refinancing risk and allowed operational flexibility, while being more cost effective than a wrapped bond solution or bank funding. Using this model Balfour Beatty raised the equivalent of £51 million of long-term senior debt with Legal & General (L&G).
Operation of the project
We have implemented a customer focused self-delivery model backed by head office support in relation to training and health and safety.
Services delivered by Balfour Beatty’s dedicated multi skilled team include, building maintenance, helpdesk, grounds maintenance, pest control, external window cleaning, and waste management. The key benefits and advantages of the FM self-delivery service are a more responsive service; better quality; good customer relations and a more efficient service to the project.
