UPP is rising above the recent doom and gloom as it celebrates another spectacular year with occupancy levels of more than 99 per cent across its portfolio of university partners.
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15/07/2008 - UPP and Leeds Metropolitan University agree new £26 million student accommodation scheme
University Partnerships Programme (UPP), one of the UK's largest providers of student accommodation, today announced that it is designing, building, financing and operating a major new development for Leeds Metropolitan University.
With a total value of around £26 million, the Carnegie Village scheme on the university's Headingley campus consists of 479 rooms built to UPP's unique Eco-Residence model. This is a class-leading template for sustainable student housing that has also been employed at other UPP schemes.
Shepherd Construction is the contractor and UPP Residential Services Ltd will provide both hard and soft facilities management services to the development, which is currently on a 45-year lease.
This is the second UPP property transaction financed by Barclays Bank in as many months. It demonstrates the strength of the university accommodation market and its continuing appeal to funding providers, despite the global economic slowdown.
Sean O'Shea, managing director of UPP, comments:
"This marks our second accommodation project with Leeds Metropolitan, following an earlier scheme in 2005. We have a real partnership built on solid financial foundations.
"Leeds Metropolitan has also adopted the Eco-Residence design that is currently flourishing at Lancaster University and is in development at other UPP schemes. It marks a major step forward in sustainability and energy efficiency."
Stephen Willis, Director of Finance & Resources at Leeds Metropolitan University, adds:
"Carnegie Village is set to be a landmark scheme, with the Eco-Residences reinforcing our position as a high-quality and environmentally conscious university able to attract the best students.
"Our partnership with UPP is hugely important to us and has proved beneficial to both parties and most significantly, our students; not least through an accommodation design that puts us at the forefront of sustainable thinking."
UPP is already working on site at Carnegie Village and the development is scheduled for completion in August 2009.
ENDS
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