Bouygues UK has been appointed main contractor for a £115m development of student rooms, restaurants, bars and a cinema in Canterbury, Kent.
Linkcity, the property development company of Bouygues UK, has exchanged contracts with Canterbury City Council, Harrison Street and The Hyde Group to bring forward a the development on the 8.4-acre site of a former coach park and Serco depot in the Kingsmead area of Canterbury.
The Riverside will include more than 50,000 sq ft of retail, leisure and restaurant space, as well as 491 student residences and 189 affordable flats.
The student rooms will be owned under a 80/20 equity split between student housing operator Harrison Street and Uliving, Linkcity’s own student accommodation brand, which will also manage the student residences on completion. Debt financing has been provided by Lloyds for this element of the scheme.
Linkcity will manage the development of the retail and leisure space and student accommodation elements, which have a value of £70m. The 189 new affordable homes will be built in partnership with The Hyde Group. The scheme’s overall gross development value is £115m…