Temple Quarter Enterprise Campus - Student Accommodation Development Partner

Tender description

The University is seeking to procure an experienced student accommodation development partner for the commercial delivery of the University's new campus: the Temple Quarter Enterprise Campus ('TQEC') in the vicinity of Bristol Temple Meads railway station. The University is working towards the TQEC being operational in autumn 2021. The University is looking for a partner to bring vision, innovation and add value across the whole TQEC project, drawing on a wide range of previous experience, including developing brownfield inner city sites. The TQEC will make provision for around 3 000 students, with a current expectation that the majority of these will be postgraduate. To support this student body the University envisages provision for c. 800 members of staff, both academic and support, that would be based substantially at TQEC. Current proposals are for a minimum of 1 000 beds and in the region of 43 400 m2 of academic buildings. It is anticipated that the student residences agreements will deliver an off balance sheet transaction (or one that has minimal impact on the University's balance sheet) and a capital receipt to the University. The University wants to achieve a high end student residences facility that is in keeping with being a top 50 global institution, one of the leading UK Universities and enhances the student experience on the new TQEC campus. It is anticipated that the development partner's role would include: Acting as a development and project manager; Designing the student residences facility (the design of the academic buildings will remain with the University); Support on the design of public realm at the TQEC; Soft and possibly hard facilities management services ('FMS') for the student residences facility and possibly hard FMS for the academic buildings. The University will retain some services relative to its students such as; pastoral care; marketing/allocation; rent collection; debt recovery; Provide equity for the student residences facility. It is anticipated that a special purpose vehicle ('SPV') will be formed and governed by a shareholders agreement, with the University also a shareholder. The SPV will form the primary contracting entity for the delivery of the student residences facility and the vehicle into which equity and sub-debt will be injected. The University envisages entering into a project agreement with the SPV for an operation term of c. 50 years (subject to dialogue) from practical completion; Run a competition to secure the financing for the SPV; Together with the University, procuring a building contractor / contractors for both the residential and academic buildings, as well as public realm (with delivery of residential and academic buildings under 2 separate contracts).