26th Jan 2015 07:27
LONDON (Alliance News) - Balfour Beatty PLC on Monday said it has been named the preferred bidder for the GBP120 million East Slope Residences project at the University of Sussex.
The FTSE 250-listed construction and support services group said it will work in partnership with the university to design, build, finance and operate the project under a 50-year deal.
It expects construction on the project to start in 2016 and said it will be handled by its UK construction services business.
"Following the revaluation of the portfolio last week, this project demonstrates the continued value our Investments business brings to the whole group. We look forward to supporting the university with their growth ambitions and delivering on their sustainability targets," said Balfour Chief Executive Officer Leo Quinn.
By Sam Unsted; [email protected]; @SamUAtAlliance
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