Bouygues UK has won the third phase on a student accommodation scheme for the University of Essex for £168 million including construction, development and facility management.

Bouygues UK and Uliving, student accommodation brand of Linkcity UK in consortium with Equitix have successfully achieved financial close of the 50-year concession for the delivery of 1,262 student bedrooms for the University of Essex. The project known as 'The Pastures' is located on the Colchester campus and is the third phase of student accommodation that Uliving will be delivering for the University of Essex, following the handover of Phase 1 (648 new build bedrooms and stock transfer of 772 bedrooms) and Phase 2 (643 bedrooms) built by Bouygues UK in 2013 and 2018 respectively.

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Once Bouygues UK have completed the construction, facilities management services will be carried out by Bouygues Energies & Services. Equitix is Uliving’s equity partner on this scheme funded by £113 million indexed and fixed rate bonds listed on The International Stock Exchange and wrapped by Assured Guaranty.

Construction works are due to start in September 2021 and completion is scheduled for the beginning of the 2023/2024 academic year.