Jarvis signs off £124m Lancaster University

Jarvis has reached financial close on the country's largest university accommodation project - building and maintaining 3,405 student rooms for Lancaster University.

Jarvis will build and maintain the accommodation for 38 years. The capital cost of the project is £124m. The whole life value of the project is £339m.

The first phase, providing 402 new rooms, has already been completed. The final phase is set for completion in September 2005. The project may be extended for a further phase, taking the total number of rooms to 4,426.