Equans has been chosen to deliver a major £140m post-graduate student accommodation project for the London School of Economics and Political Science (LSE) involving the design, build, operational services and maintenance of the scheme.
Under the terms of the contract, Equans will demolish an existing warehouse on Glengall Road, Southwark, prior to delivering a student accommodation scheme for LSE.
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This will be followed by a five-decade facilities management and lifecycle contract.
The new 15-storey halls of residence will offer 676 student bed spaces, with more amenities including a new gym, external courtyards, roof terraces, shared kitchens, a cinema room, laundry room, amenity space and staff offices.
After construction, Equans, the new brand for Engie’s services-led activity, will be in charge of the hard and soft FM and lifecycle management of the halls of residence, right from furnishings, through to infrastructure replacement, including electrical wiring, shower facilities and lifts.
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The firm will also be responsible for offering high speed WiFi and IT services across the accommodation.
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By GlobalDataEquans will also offer energy management and monitoring across the sites. It will incorporate many smart building technologies, to maximise energy efficiency, reduce carbon emissions and cut down fuel bills.
Over a third of the accommodation is meant for lower income students and the rooms will be marketed at a discount price, as against other properties in the LSE portfolio.
Equans UK & Ireland divisional CEO Colin Macpherson said: “LSE is one of the world’s leading institutions and we are delighted to be playing a key role in supporting their sustainability drive, while enhancing the university experience for students.
“We have a substantial portfolio of universities, which we are actively supporting to achieve their net zero carbon targets, and currently manage more than 10,000 student rooms across the UK -so LSE is fantastic addition.”
LSE director of residential services Ian Spencer said: “I look forward to working with Equans on this exciting development which brings LSE closer to our goal of offering all first-year students a place in halls. Glengall Road will provide modern, sustainable accommodation for LSE graduate students. All rooms are ensuite and will be let on 51 week tenancy contracts. LSE will also provide reception and pastoral support services as well as dealing with applications and allocations.”
Work commenced on site this month and the accommodation will be ready for the September 2024 term start.
The scheme will be modelled as a PPP (Public Private Partnership) with LSE holding a 19.9% stake and DIF Capital Partners holding the majority 80.1% stake in the special purpose vehicle, Spark Living (LSE Glengall Road).
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Image: The accommodation will be ready for the September 2024 term start. Credit: Equans.
