Cancellation of Student Village and Residence Transaction for George Eliot Hall and Rusham Park

About

Royal Holloway and Bedford New College awarded a contract to Balfour Beatty Infrastructure Investments Limited for a residence transaction involving George Eliot Hall and Rusham Park, valued at £85,000,000.

The project aimed to enter into a long-term agreement for the potential delivery of a c.2000 bed student village through a demand risk partnership, including design, build, finance, operation and maintenance, as well as the stock transfer, finance, and operation and maintenance of the existing George Eliot Hall.

However, in accordance with regulation 55(1) of the Public Contracts Regulations 2015, the college decided not to proceed with the procurement due to financial pressures from increased borrowing costs and construction costs, rendering the project no longer financially viable.