Equitix-led bid picked for £400m University of Manchester student gig
Viridis, a JV between the global investor, Graham Construction, and Derwent FM has been selected as the preferred bidder for the redevelopment of the Owens Park campus in Fallowfield.
Equitix, which has offices around the world and works across various sectors from transport to digital infrastructure, put together a proposition for the £400m project alongside Graham, with whom it has worked before.
Equitix and Graham previously linked up in York, delivering 1,480 beds across 18 accommodation blocks for the city’s university.
The University of Manchester launched a hunt for a development partner for the Owens Park project last August and secured outline approval for the redevelopment of the site earlier this year.
The scheme was designed by Sheppard Robson, which also advised Equitix on its bid, and proposes increasing the number of student beds currently on site by 900.
The scheme would see the tower block, Oak House, Owens Park, and Woolton Hall demolished. Together, those buildings provide around 2,370 student beds.
These ageing buildings are to be replaced with 3,300 new student bedspaces – an increase of 300 units compared to a 2015 iteration of the scheme that did not materialise.
Dr Simon Merrywest, director for the student experience at University of Manchester, said: “We are delighted to have reached another key milestone in the progression of our plans for the Fallowfield Campus redevelopment with the selection of Viridis as preferred bidder and our delivery partner.
“Clearly, there remains a lot of work to do in order to reach financial close on this exciting programme by summer 2025.”
He added: “As we have said previously, these plans show our commitment to providing our new and returning students with modern, high-quality accommodation. This much needed update to one of our most popular student campuses will help us to continue to meet the needs of our student population by delivering well-connected, serviced, modern accommodation in a supportive and inclusive environment.”
The Fallowfield job is the most recent win for Equitix in the student space. Last December, in partnership with Bouygues UK, Equitix was appointed by London School of Economics as the preferred bidder for a 2,000-bed London’s Bankside student scheme located behind the Tate Modern art gallery.
Achal Bhuwania, Equitix cheief investment officer, said: “This win was achieved through our relentless focus on building trust and long-lasting relationships as well as providing best in class solutions with core focus on sustainability and value for money.”
Operis, Osborne Clarke, Howdens, and WSP all advised on the bid.
