Fallowfield campus redevelopment project will deliver 3,300 high-quality, sustainable student rooms alongside a range of modern shared amenities, enhancing the student experience for future generations.
The £530 million project will be delivered through an innovative 50-year partnership model between The University of Manchester, Equitix, GRAHAM and Rothesay, with cornerstone funding provided by Rothesay.
Fallowfield campus is set to become the world’s largest single-phase Passivhaus-certified purpose-built student accommodation scheme, achieving operational energy usage approximately 50% lower than conventional new-build student accommodation.
Long-term partnership represents a significant investment in Manchester, supporting the delivery of world-class student accommodation, driving outstanding student experience and long-term social value outcomes.
New high-quality student living for University of Manchester students, with some of the world’s most advanced sustainability credentials, has moved a step closer by reaching Financial Close.
The £530 million redevelopment project will be delivered through an innovative 50-year partnership model between The University of Manchester, Equitix, one of the UK’s leading investors in student accommodation; GRAHAM, a leading UK contractor and investor in the higher education and purpose-built student accommodation sectors; and Rothesay, the UK’s largest specialist pensions insurer.
Bringing together expertise across long-term investment, development, construction and student accommodation operations, the partnership has been established to deliver, operate and maintain high-quality, sustainable student accommodation that will enhance the student experience while supporting the University’s long-term strategic objectives.
The accommodation on the University’s Fallowfield campus is the world’s largest single-phase Passivhaus student accommodation development, combining exceptionally low energy demand, net zero carbon operations and a major programme of biodiversity, wellbeing and social value measures.
It will be a wellbeing-led living environment designed around daylight, air quality, acoustic performance, accessibility, overheating protection and access to nature.
Minister for Pensions, Torsten Bell, said:
“Britain needs to get back into the business of investing in its own future, and we are supporting the building, investing and innovating that makes that happen. This significant commitment to sustainable student housing in Manchester
shows how institutional investment can achieve that while delivering strong long-term outcomes for savers.”
Neil McFarlane, Strategic Development Director at GRAHAM Investment Projects, said:
“Projects of this scale can only be delivered through strong collaboration between the public and private sectors, and reaching financial close is a major milestone that enables us to move into delivery.
“Significantly, Fallowfield is the largest Passivhaus student accommodation project in the world as well as being the largest pre-cast MMC-centred development in the UK, setting a new benchmark for sustainable development. We are proud to be at the forefront of delivering a project of this scale and together with our partners, we look forward to creating a development that will have a lasting positive impact for students, the local economy and Manchester for generations to come.”
Barra Mac Ruairí, Chief Property Officer at the University of Manchester, said
“We are very pleased that by working in true partnership we looked for innovative solutions to opportunities and the inevitable challenges which working at such scale presents. Getting to this milestone was a tremendous endeavour. Our new Fallowfield residences are going to be among the most sustainable in the world and are designed to deliver an outstanding student experience. I’m looking forward to working with our partners as we continue to develop the site.”
Equitix CEO, Hugh Crossley, said:
“As one of the UK’s leading developers and investors in infrastructure, Equitix is proud to work alongside our consortium partners to reach this significant milestone. This is a true partnership with the University of Manchester, demonstrating that projects of this scale are built on shared ambition and long-term commitment. With extensive experience developing and investing in student accommodation, we recognise the important role high-quality living environments play in supporting students and university communities. We are
particularly pleased to further strengthen our investment in the North West and will work hard to ensure the project delivers value for the benefit of the students, the University of Manchester and our investors for years to come.”
Tom Pearce, CEO of Rothesay, commented:
“Rothesay is committed to making high-quality investments that deliver real social and environmental value while securing the future for the nearly one million people whose pensions we protect. As the cornerstone funder of this innovative partnership, Rothesay is investing in the long-term future of the University of Manchester and its students. It highlights how our dedicated in-house origination team continues to provide long-term retirement certainty for Rothesay policyholders alongside supporting productive finance and economic growth across the UK.”