Balfour to build £42m student housing scheme
Having previously delivered 2,520 units across five central London schemes for Urbanest as part of a long-running partnership, this latest £42 million project at 5 Miles Street, Vauxhall will include 454 apartments at a variety of price points.
The 33-storey building will include a wealth of personal and communal study areas, lounges and a cycle store, together with significant enhancements to the public realm.
With focus on long term sustainability, photovoltaic panels and a green roof will be incorporated in order to minimize carbon emissions and reduce fuel consumption, alongside a combined heat and power (CHP) unit designed to recycle heat and energy within the development.
The scheme will create a number of jobs locally alongside an additional 20 apprenticeships as part of Balfour Beatty’s ongoing commitment to The 5% Club, which aims to have a minimum of 5% of the total workforce made up of apprentices or graduates.
The development will contribute to the wider £400 million regeneration of Vauxhall Square, which will include a significant amount of new office and residential development, alongside a new hotel and cinema complex.
Construction for 5 Miles Street is set to begin imminently and is scheduled to complete in summer 2018.
David Kennedy, Managing Director of London Region for Balfour Beatty said:“We are looking forward to continuing our longstanding relationship with Urbanest.
“To date we’ve delivered over 2,500 units of student accommodation for Urbanest and over 20,000 beds for private sector customers and academic institutes as well as significant investment into a number of schemes.
“Vauxhall Square is an important part of London’s development by incorporating the local student population into the local community and we’re pleased to be a part of the wider project”.