It is expected that, by Autumn 2017, Bournemouth University will be able to commence its upcoming project to enhance and develop facilities available on campus through a £40m investment project.
The arrangement, which has incorporates both the university and Threesixty Developments, looks to lay the foundations for a new 10,000 meters squared facility within which it will be able to host its Faculty of Health & Social Science in addition to a vast student accommodation totalling some 550 beds as a separate development. And for these developments, a joint planning application is on the books, with the view to having it submitted this spring, thus giving plenty of notice for the completion of the facility by 2018, and the complementing accommodation for students by 2019.
As part of the deal, Threesixty Developments has agreed that its sister organisation, The Student Housing Company will be in charge of running the accommodation facet of the development, yet with a guarantee that the University will be able to benefit from a referral agreement to secure further student accommodation for those who need it most – most specifically, this entails international students coming over for their first year at the university.
Commenting on the development, Christian Davis, Development & Transaction Director at Threesixty highlighted the time and effort put into ensuring that both parties have been able to come to mutual terms which will benefit both, whilst also taking the university another step along the road to creating further academic and accommodation assets on the campus. Though there is still more to confirm with regard to receiving planning permission and guaranteeing positive impacts on the local community, the project, at this stage, is generally well-anticipated by key stakeholders.
Jim Andrews, Chief Operating Officer at Bournemouth University commented: “We are delighted that this complex commercial transaction is now complete and we can focus in delivering world class facilities.”