The first BAM Connislow development is on site in Ainsley Street, Durham. It will provide housing for 223 students and be completed in time for letting for the 2014 academic year. Other potential projects around the UK are under consideration.
David Cotton, BAM’s business development director, said: “BAM has a thorough understanding of the university sector. We have built more than 100 university faculty and accommodation buildings in the past ten years and we understand that competition to attract the most talented students is global.
“The availability of quality student accommodation, especially for post-graduate and international students, is an important factor for universities. BAM acted as Connislow's principal contractor on an accommodation scheme in Green Lane Durham. Our excellent collaboration on that project led to the formation of the joint venture.”
John Parkinson, managing director of the BAM Connislow JV, added: “The joint venture will focus on developments in university towns where future supply is constrained by land availability, historic factors and planning policy. Our developments are likely to appeal to funding partners who wish to pursue a longer-term investment strategy and who are attracted to the prime, scarce nature of the developments.”