Lend Lease lands £240m deal for student accommodation

Lend Lease has signed an exclusive delivery agreement with Manor Property Group, to design and construct up to 40,000 student sheffieldaccommodation units at 70 locations across England and Scotland. Manor Property Group is one of the United Kingdom’s leading privately owned developers. The work will be delivered by Lend Lease’s project management and construction business, with the first five locations to commence in 2013.

These first five projects will comprise a total of 3,500 units and have a combined contract value of £240 million (circa A$370 million). They are located in the university cities of Birmingham, Leeds, Manchester, Sheffield and Hull, with completion expected in 2015. Manor Property Group and Lend Lease then plan to deliver additional sites comprising 36,500 units across the United Kingdom.

Lend Lease Group Chief Executive Officer and Managing Director, Steve McCann, said “We are very pleased to have secured this agreement with Manor Property Group, which leverages the core capability of Lend Lease’s project management and construction business in the UK student accommodation sector, and adds to our construction work. We will continue to deliver third party work alongside our significant UK development pipeline.”

Lend Lease has previously partnered with the University of Sheffield to deliver student accommodation totalling 4,000 beds through a combination of new build and refurbishment.

Source