Services group lands £200m University of Leicester contract

A £200m contract to overseas a huge student accommodation and regeneration scheme in Leicester has been awarded.

ENGIE has won the contract from Freemens Common Village, the special purpose vehicle (SPV) established to design, build, fund, manage and operate the project for University of Leicester.

The scheme includes the delivery of 1,164 student homes across seven blocks, a new multi-storey car park and teaching centre, a 50-year facilities management contract and will see ENGIE take an equity stake in the project alongside Equitix and the University of Leicester.

Martin Smithurst, divisional chief operating officer for ENGIE’s Places & Communities Division (North), said: “This is a prime project for ENGIE, as it’s one of the few occasions where we get to showcase our broad capabilities in placemaking. These contracts not only allow us to demonstrate our expertise across energy, services and regeneration; but provides us with the opportunity to apply our long-term investment model, by taking an equity stake in the scheme. This assures our partners and students of our long-term commitment to Leicester and its university.

“We have delivered several similar higher education projects across the country and we’re delighted to be working with the University of Leicester, as well as Equitix, on such a remarkable scheme that will create a lasting legacy in Leicester.”

Martyn Riddleston, chief financial officer for University of Leicester, said: “The Freemen’s Common development is an exciting and important project for the University that will enable us to continue to deliver the best experience for our students. We are delighted to be working with ENGIE and Equitix to deliver the project.”

Ben Leech, director for Equitix, said: “Achieving financial and contractual close for Freemen’s Common represents the culmination of two years of dialogue with the University of Leicester and the wider local stakeholder group. We are delighted to be embarking on this exciting project, which demonstrates our continued capability in the higher education market.”

Building work is likely to start in September and will take three years to complete.