25th Jun 2014 15:18
LONDON (Alliance News) - St Modwen Properties PLC said Wednesday that it had inked a new accommodation development agreement with Swansea University to deliver an additional GBP50 million of student accommodation and new facilities at the university's Bay Campus development.
St. Modwen, which is currently developing the new GBP450 million campus, said it will develop a further 545 additional student apartments for occupation during the first quarter of 2016. The agreement also covers new student facilities including a gym and sports hall, student union offices, a laundrette and créche.
The total amount of space constructed will be around 1 million square foot.
"The development at the Swansea University Bay Campus is starting to take shape with many of the key buildings now well underway as the project's first phase gears up to complete next year," said Rupert Joseland, St.Modwen's regional director for South Wales.
Shares in St.Modwen were trading up 1.0% at 337.40 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
SMP.L