News on 21 December 2000
The Jarvis University Partnership Programme (Jarvis UPP)
has been announced preferred bidder by Oxford Brookes University for the
development of 750 new bedrooms on the university’s Headington campus.
The whole life cost is estimated at £80m at current prices including
£20m of FM and life cycle maintenance costs. The £24m funding
required will be provided by Jarvis, Barclays Bank and Barclays UK Infrastructure
Fund.
Under the contract Jarvis UPP is to design, build and operate the accommodation
for a 30 year period and the university will grant a 30 year leashold
interest in the sites. The en-suite bedrooms (with IT links to the rest
of the university) are to be rented at competitive prices.
Paul Large, finance director at Oxford Brookes, said: “This project
has required very careful consideration owing to the environment constraints
that the site poses. Jarvis UPP has provided us with a tailor made, cost-effective
solution to overcome these problems. This, combined with their proven
experience in providing such facilities for our other universities, was
the reason that we chose to work with Jarvis.”
Chief executive of Jarvis Accommodation Services and chairman of Jarvis
UPP, Henry Lafferty, commented: “This appointment confirms Jarvis
UPP’s position as the leading independent operator of student residential
accommodation in the UK. The company currently manages over 3,600 rooms,
with a further 2,600 rooms under development and is working with universities
in Luton, Manchester, Oxford, Plymouth, Reading, Ulster and York.”
Last month Jarvis reached financial close on the £22m student accommodation
project at The Royal Northern College of Music (RNCM) (see
News story) and this month signed an agreement with the University
of York for the development of 738 new post-graduate study bedrooms (see
News story).
www.jarvisplc.com
