£28m PFI student accommodation deal on offer from University of Wales Bangor

The University of Wales Bangor is looking to appoint a private sector partner to build it 1,080 new student accommodation units under a PFI contract.

The units will be built at the University's Ffriddoedd campus in Bangor, North Wales. The deal is expected to be worth around £28m over the term of the contract.

The University expects around 500 units to be built initially. This will be followed by the demolition of an existing facility and the construction of the rest of the units on that site.

The likely concession period for the management and maintenance of the units is 25 years. Practical completion and occupation is scheduled for the 2005-05 academic year.