Construction News

03/05/2016

Balfour Beatty Reaches Financial Close On Glasgow Project

Balfour Beatty has reached financial close for a student accommodation project in Glasgow.

The Kennedy Street project will feature 536 bedrooms split over two blocks in the east side of the city.

Both blocks will be located around a central courtyard containing 149 self-contained studios and 387 bedrooms in cluster flats.

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Development finance for the project has now been raised with Investec Bank.

Ian Woosey, Investment Director at Balfour Beatty Investments, said: "As one of the leading developer/contractors in the student accommodation market, we are delighted to have arranged the optimum funding package to carry out this development in Glasgow."

Construction began in November 2015 and the scheme is on schedule to be completed by July 2017.

(LM)

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