Firm will design and build the Durham scheme’s two new residential facilities

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A consortium led by Interserve has secured an £85m project to finance, design, build and operate two new colleges in Durham.

Commissioned by Durham University, the consortium – made up of Interserve, fund and asset management firm Equitix and on-campus student accommodation developer and operator, Campus Living Villages UK – will finance, build and operate the two new facilities for up to 50 years.

Interserve’s construction division will design and build the two new residential facilities, which will have up to 1,000 student bed spaces, plus associated academic and social college spaces on a University-owned area of land just to the south of the city.

The firm will also design and build a University hub building on the same site, comprising student facilities and administrative space.

Facilities management services will be provided by CLV, while tenancy management, academic and pastoral activities will remain the responsibility of the University.

Last month Interserve announced the appointment of Mark Whiteley as the group’s finance chief, a week after issuing a profits warning and indicating that losses on its energy from waste activities would rise above the £160m originally set aside by the firm.