The £85 million project will see the Interserve-led consortium, featuring asset management firm Equitix and on-campus student accommodation developer and operator Campus Living Villages UK (CLV), finance, build and operate two new college facilities in Durham City for up to 50 years.
The new residential facilities will be designed and built by Interserve, providing up to 1,000 new student bed spaces plus associated academic and social college spaces on a University-owned area of land to the south of the city. A University hub building will also be developed on the same site, featuring student facilities and administrative space.
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Facilities management services will be provided by CLV, while tenancy management, academic and pastoral activities will remain the responsibility of the University. Space will also be provided for John Snow College, which is relocating from the University's Queen's Campus in Stockton-on-Tees, and a new 17th college.
Debbie White, Interserve's chief executive, said: "We look forward to building on our 15-year relationship with Durham University by starting work on this exciting project, following the opening of the Interserve-built Ogden Centre for Fundamental Physics in March."
Jane Robinson, Chief Operating Officer, Durham University added: "The development of two new colleges at Mount Oswald is a key project in delivering a wider student experience as good as anywhere in the world. We are very pleased to be working with the consortium to deliver this project."
(LM)
