Newbridge Advisors has advised Uliving on winning and achieving Financial Close on a new student accommodation project at University of Brighton. The five new towers at the Moulsecoomb campus, ranging in height from 8 to 18 floors, will provide over 800 affordable student bedrooms and space at ground level for new Students’ Union and fitness facilities. The visually striking development is being built on the site of the university’s Mithras House car park and is due to be ready for students starting courses from September 2021.
University of Brighton Vice-Chancellor, Professor Debra Humphris said: “This is a huge milestone as work begins on the next stage of the university’s biggest ever capital development programme. The new student accommodation and other facilities that form part of the Big Build will transform our biggest campus.”
Development partner Uliving is taking on the financing, development and management of the new student facilities with a 50-year operating term. Its investment partner is John Laing and Aviva Investors’ Lime Property Fund is providing long-term development finance through an income strip deal. The development will be delivered by construction company Bouygues UK, and Bouygues Energies and Services will be in charge of facilities management. Axel Boutrolle, Uliving’s CEO, said: “We are excited to be working with the University of Brighton to bring its ambitions to life. The Moulsecoomb campus will boost the availability of modern, high-quality, purpose built student accommodation in this vibrant city, freeing up homes for local families”.