Student Accommodation at Aston University, Birmingham.

Descriptions

This notice relates to a proposed project agreement and ancillary documentation to be awarded by Aston University (the ‘University’) in respect of the delivery of student accommodation in Birmingham. Pursuant to an existing agreement, the University intends to exercise pre-emption rights over Aston Student Village's interest in the Aston Student Village site in Birmingham. In order to ensure the operation of this project, the University intends to enter into a project agreement with a special purpose vehicle (‘the SPV’) under which the project will be brought forward. The SPV is jointly owned by the University and a third party investor. As part of the project agreement, the SPV will take on certain service provision obligations, including in respect of FM services. Ancillary to the project agreement, the SPV will obtain leases of the Aston Student Village site.